AK Steel Holding Co. (NYSE:AKS) – Equities research analysts at Jefferies Group increased their FY2017 earnings estimates for AK Steel in a research report issued on Tuesday. Jefferies Group analyst S. Rosenfeld now anticipates that the basic materials company will post earnings of $0.22 per share for the year, up from their prior forecast of $0.20. Jefferies Group currently has a “Hold” rating and a $6.50 target price on the stock. Jefferies Group also issued estimates for AK Steel’s Q4 2017 earnings at ($0.19) EPS and FY2018 earnings at $0.62 EPS.
AKS has been the subject of a number of other reports. Credit Suisse Group raised AK Steel from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $6.00 to $7.00 in a research note on Tuesday, November 21st. BMO Capital Markets decreased their price target on AK Steel from $7.00 to $5.00 and set a “market perform” rating for the company in a research note on Wednesday, November 1st. JPMorgan Chase & Co. raised AK Steel from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $6.00 to $7.00 in a research note on Thursday, December 7th. Clarkson Capital lowered AK Steel from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 1st. Finally, Zacks Investment Research raised AK Steel from a “sell” rating to a “hold” rating in a research note on Wednesday, November 22nd. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $7.54.
Shares of AK Steel (NYSE:AKS) opened at $6.44 on Thursday. AK Steel has a one year low of $4.00 and a one year high of $11.28. The company has a current ratio of 1.92, a quick ratio of 0.75 and a debt-to-equity ratio of 11.89. The stock has a market capitalization of $2,030.00, a P/E ratio of 42.93, a P/E/G ratio of 2.08 and a beta of 2.90.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Crow Point Partners LLC purchased a new position in shares of AK Steel in the 4th quarter valued at $110,000. Riverhead Capital Management LLC increased its holdings in shares of AK Steel by 74.4% in the 2nd 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 period. MML Investors Services LLC purchased a new position in shares of AK Steel in the 2nd quarter valued at $141,000. Raymond James Financial Services Advisors Inc. increased its holdings in shares of AK Steel by 0.9% in the 2nd 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 period. Finally, IPG Investment Advisors LLC purchased a new position in shares of AK Steel in the 3rd quarter valued at $145,000. Institutional investors own 65.25% of the company’s stock.
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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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