AK Steel Holding Co. (NYSE:AKS) was the recipient of a significant decline in short interest in January. As of January 31st, there was short interest totalling 52,154,777 shares, a decline of 12.4% from the January 12th total of 59,512,504 shares. Based on an average trading volume of 23,836,504 shares, the short-interest ratio is currently 2.2 days. Currently, 16.9% of the company’s shares are short sold.
Shares of AK Steel (NYSE:AKS) opened at $4.76 on Tuesday. AK Steel has a 12 month low of $4.00 and a 12 month high of $9.19. The stock has a market capitalization of $1,500.00, a PE ratio of 238.00, a price-to-earnings-growth ratio of 1.69 and a beta of 2.87. The company has a quick ratio of 0.69, a current ratio of 1.83 and a debt-to-equity ratio of 15.72.
AK Steel (NYSE:AKS) last released its quarterly earnings results on Tuesday, January 30th. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.07. AK Steel had a return on equity of 70.67% and a net margin of 0.16%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the business posted $0.25 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. equities research analysts forecast that AK Steel will post 0.53 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Crow Point Partners LLC acquired a new stake in shares of AK Steel in the fourth quarter valued at about $110,000. Hourglass Capital LLC acquired a new stake in shares of AK Steel in the fourth quarter valued at about $133,000. Raymond James Financial Services Advisors Inc. increased its position in shares of AK Steel by 0.9% in 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. IPG Investment Advisors LLC acquired a new stake in shares of AK Steel in the third quarter valued at about $145,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of AK Steel in the fourth quarter valued at about $155,000. 64.50% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have weighed in on AKS. Jefferies Group lowered AK Steel from a “buy” rating to a “hold” rating and reduced their target price for the stock from $6.64 to $6.50 in a report on Tuesday, January 9th. Zacks Investment Research lowered AK Steel from a “buy” rating to a “hold” rating in a report on Wednesday, January 17th. Cowen reiterated a “hold” rating and set a $7.00 target price on shares of AK Steel in a report on Thursday, January 4th. Longbow Research upgraded AK Steel from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $5.53 to $7.00 in a report on Wednesday, December 20th. Finally, Bank of America lowered AK Steel from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $8.00 to $5.50 in a report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. AK Steel currently has an average rating of “Hold” and a consensus target price of $6.88.
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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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