Shares of AK Steel Holding Co. (NYSE:AKS) have received an average recommendation of “Buy” from the nineteen analysts that are currently covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $7.56.
AKS has been the subject of a number of research reports. Cowen reiterated a “hold” rating and set a $6.00 target price on shares of AK Steel in a research report on Tuesday, October 24th. Macquarie initiated coverage on shares of AK Steel in a research report on Wednesday, September 6th. They set an “outperform” rating and a $7.00 target price for the company. Bank of America reiterated a “buy” rating and set a $9.00 target price on shares of AK Steel in a research report on Wednesday, September 6th. BMO Capital Markets restated a “hold” rating and issued a $7.00 price objective on shares of AK Steel in a research report on Thursday, October 5th. Finally, Longbow Research restated a “neutral” rating on shares of AK Steel in a research report on Tuesday, October 3rd.
Shares of AK Steel (NYSE AKS) traded down $0.07 on Friday, hitting $5.65. 2,120,804 shares of the stock were exchanged, compared to its average volume of 18,523,826. The company has a market cap of $1,800.00, a P/E ratio of 8.66, a PEG ratio of 4.53 and a beta of 2.89. AK Steel has a 52 week low of $4.00 and a 52 week 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.
Hedge funds have recently bought and sold shares of the business. State of New Jersey Common Pension Fund D purchased a new stake in AK Steel in the 3rd quarter worth approximately $81,614,000. BW Gestao de Investimentos Ltda. acquired a new stake in shares of AK Steel during the second quarter worth about $9,855,000. Brandywine Global Investment Management LLC acquired a new stake in shares of AK Steel during the second quarter worth about $5,860,000. Ameriprise Financial Inc. raised its position in AK Steel by 29.9% during the second quarter. Ameriprise Financial Inc. now owns 3,760,681 shares of the basic materials company’s stock valued at $24,709,000 after acquiring an additional 865,110 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in AK Steel by 14.3% during the second quarter. Dimensional Fund Advisors LP now owns 6,162,355 shares of the basic materials company’s stock valued at $40,489,000 after acquiring an additional 772,725 shares in the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.
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About AK Steel
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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