Longbow Research upgraded shares of AK Steel (NYSE:AKS) from a neutral rating to a buy rating in a report published on Wednesday, December 20th, Marketbeat.com reports. They currently have $7.00 price objective on the basic materials company’s stock, up from their prior price objective of $5.53.
Several other research firms have also recently issued reports on AKS. ValuEngine raised AK Steel from a buy rating to a strong-buy rating in a research note on Tuesday, August 22nd. Bank of America reissued a buy rating and set a $9.00 target price on shares of AK Steel in a research note on Wednesday, September 6th. Macquarie started coverage on AK Steel in a research report on Wednesday, September 6th. They set an outperform rating and a $7.00 price target on the stock. Jefferies Group restated a buy rating on shares of AK Steel in a research report on Monday, September 18th. Finally, KeyCorp restated a hold rating on shares of AK Steel in a research report on Tuesday, September 19th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $7.54.
Shares of AK Steel (NYSE AKS) traded down $0.01 during trading on Wednesday, reaching $6.43. The company’s stock had a trading volume of 18,510,000 shares, compared to its average volume of 15,880,000. The company has a quick ratio of 0.75, a current ratio of 1.92 and a debt-to-equity ratio of 11.89. The stock has a market cap of $2,020.00, a PE ratio of 42.87, a P/E/G ratio of 2.08 and a beta of 2.90. AK Steel has a 1-year low of $4.00 and a 1-year high of $11.28.
Large investors have recently made changes to their positions in the company. Crow Point Partners LLC bought a new position in shares of AK Steel during the fourth quarter valued at $110,000. Alps Advisors Inc. increased its position in AK Steel by 35.0% during the second quarter. Alps Advisors Inc. now owns 17,639 shares of the basic materials company’s stock valued at $116,000 after acquiring an additional 4,573 shares during the last quarter. Riverhead Capital Management LLC increased its position in AK Steel by 74.4% during the second quarter. Riverhead Capital Management LLC now owns 17,616 shares of the basic materials company’s stock valued at $116,000 after acquiring an additional 7,516 shares during the last quarter. MML Investors Services LLC purchased a new stake in AK Steel during the second quarter valued at $141,000. Finally, Raymond James Financial Services Advisors Inc. increased its position in AK Steel by 0.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 21,887 shares of the basic materials company’s stock valued at $144,000 after acquiring an additional 193 shares during the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.
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AK Steel Company Profile
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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