AK Steel Holding Co. (NYSE:AKS) was up 3.8% during trading on Wednesday . The stock traded as high as $2.63 and last traded at $2.71, approximately 428,102 shares changed hands during mid-day trading. A decline of 94% from the average daily volume of 7,196,513 shares. The stock had previously closed at $2.61.

A number of equities research analysts recently weighed in on the stock. Goldman Sachs Group lowered their price objective on shares of AK Steel from $2.25 to $1.50 and set a “buy” rating for the company in a research report on Tuesday, June 4th. Credit Suisse Group cut shares of AK Steel from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $3.50 to $2.05 in a report on Thursday, May 23rd. BMO Capital Markets set a $3.00 target price on AK Steel and gave the company a “hold” rating in a research note on Wednesday, July 31st. Deutsche Bank set a $2.00 target price on AK Steel and gave the company a “hold” rating in a report on Thursday, May 30th. Finally, Citigroup set a $3.00 price target on AK Steel and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $2.73.

The company has a debt-to-equity ratio of 4.54, a quick ratio of 0.76 and a current ratio of 2.02. The stock has a market capitalization of $816.29 million, a price-to-earnings ratio of 4.39, a price-to-earnings-growth ratio of 1.16 and a beta of 3.08. The business’s 50 day simple moving average is $2.40 and its 200-day simple moving average is $2.43.

AK Steel (NYSE:AKS) last released its quarterly earnings results on Monday, July 29th. The basic materials company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.15. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.73 billion. AK Steel had a return on equity of 57.52% and a net margin of 2.40%. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 earnings per share. As a group, sell-side analysts expect that AK Steel Holding Co. will post 0.42 EPS for the current year.

Institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its stake in shares of AK Steel by 5.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,423,378 shares of the basic materials company’s stock worth $16,703,000 after acquiring an additional 368,190 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in shares of AK Steel in the 1st quarter worth $45,000. Bank of Montreal Can lifted its holdings in shares of AK Steel by 170.4% in the first quarter. Bank of Montreal Can now owns 37,268 shares of the basic materials company’s stock valued at $103,000 after buying an additional 23,485 shares during the period. SG Americas Securities LLC acquired a new stake in shares of AK Steel in the first quarter valued at $915,000. Finally, Janney Montgomery Scott LLC bought a new position in AK Steel during the first quarter valued at about $33,000. 62.09% of the stock is currently owned by hedge funds and other institutional investors.

About AK Steel (NYSE:AKS)

AK Steel Holding Corporation, through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, and stainless and electrical steel products in the United States and internationally. It produces flat-rolled carbon steel products, including coated, cold-rolled, and hot-rolled carbon steel products; grain-oriented specialty stainless and electrical steels; and carbon and stainless steel tubing products.

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