AK Steel Holding Co. (AKS) Receives Average Rating of “Hold” from Analysts
AK Steel Holding Co. (NYSE:AKS) has been assigned a consensus rating of “Hold” from the fifteen brokerages that are currently covering the firm. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $8.38.
A number of equities research analysts have issued reports on the company. Morgan Stanley cut AK Steel Holding from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $8.39 to $11.00 in a research report on Monday, February 13th. Vetr cut AK Steel Holding from a “hold” rating to a “sell” rating and set a $8.49 target price for the company. in a research report on Monday, February 20th. Jefferies Group LLC reaffirmed a “buy” rating and set a $13.00 target price (up previously from $7.50) on shares of AK Steel Holding in a research report on Tuesday, December 13th. Citigroup Inc cut AK Steel Holding from a “neutral” rating to a “sell” rating and set a $8.00 target price for the company. in a research report on Thursday, January 19th. Finally, JPMorgan Chase & Co. lowered AK Steel Holding from an “overweight” rating to a “neutral” rating and set a $8.00 price target for the company. in a report on Wednesday, January 25th.
Several hedge funds and other institutional investors have recently modified their holdings of AKS. FMR LLC purchased a new position in shares of AK Steel Holding during the fourth quarter worth approximately $49,391,000. JPMorgan Chase & Co. raised its position in shares of AK Steel Holding by 395.7% in the third quarter. JPMorgan Chase & Co. now owns 5,307,865 shares of the company’s stock worth $25,637,000 after buying an additional 4,237,133 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of AK Steel Holding during the third quarter worth approximately $19,565,000. Norges Bank purchased a new position in shares of AK Steel Holding during the fourth quarter worth approximately $30,527,000. Finally, Rothschild Asset Management Inc. purchased a new position in shares of AK Steel Holding during the third quarter worth approximately $13,695,000. Institutional investors and hedge funds own 62.21% of the company’s stock.
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Shares of AK Steel Holding (NYSE:AKS) traded down 1.56% during mid-day trading on Monday, hitting $8.18. 6,082,305 shares of the company were exchanged. The stock’s market cap is $2.57 billion. The stock’s 50-day moving average price is $8.25 and its 200 day moving average price is $7.54. AK Steel Holding has a 12-month low of $3.31 and a 12-month high of $11.39.
AK Steel Holding (NYSE:AKS) last announced its earnings results on Tuesday, January 24th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.16. The firm earned $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. AK Steel Holding had a negative return on equity of 47.34% and a negative net margin of 0.13%. The company’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 earnings per share. On average, equities analysts anticipate that AK Steel Holding will post $0.72 EPS for the current fiscal year.
About AK Steel Holding
AK Steel Holding Corporation is a producer of flat-rolled carbon, stainless and electrical steels, and tubular products through its subsidiary, AK Steel Corporation (AK Steel). The Company also operates blast furnaces and electric arc furnaces. As of December 31, 2016, its operations included eight steelmaking and finishing plants, two coke plants and two tube manufacturing plants across states, including Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia, and a tube manufacturing plant in Mexico.
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