Shares of AK Steel Holding Co. (NYSE:AKS) gapped down before the market opened on Wednesday . The stock had previously closed at $5.80, but opened at $5.81. AK Steel shares last traded at $5.81, with a volume of 7726823 shares trading hands.
Several brokerages recently issued reports on AKS. Jefferies Group downgraded AK Steel from a “buy” rating to a “hold” rating and decreased their target price for the company from $6.64 to $6.50 in a research note on Tuesday, January 9th. Zacks Investment Research downgraded AK Steel from a “buy” rating to a “hold” rating in a research note on Wednesday, January 17th. Cowen reaffirmed a “hold” rating and issued a $7.00 price objective on shares of AK Steel in a research note on Thursday, January 4th. Longbow Research raised AK Steel from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $5.53 to $7.00 in a research note on Wednesday, December 20th. Finally, Bank of America downgraded AK Steel from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $8.00 to $5.50 in a research note on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $6.88.
The company has a market capitalization of $1,790.00, a price-to-earnings ratio of 51.73, a P/E/G ratio of 2.24 and a beta of 2.87. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.83 and a quick ratio of 0.69.
AK Steel (NYSE:AKS) last announced its earnings results on Tuesday, January 30th. The basic materials company reported ($0.06) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.07. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. AK Steel had a return on equity of 71.24% and a net margin of 0.16%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 EPS. equities analysts anticipate that AK Steel Holding Co. will post 0.53 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in AKS. Crow Point Partners LLC purchased a new position in shares of AK Steel in the 4th quarter worth approximately $110,000. Delpha Capital Management LLC purchased a new position in shares of AK Steel in the 4th quarter worth approximately $123,000. Hourglass Capital LLC purchased a new position in shares of AK Steel in the 4th quarter worth approximately $133,000. Raymond James Financial Services Advisors Inc. boosted 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 worth $144,000 after purchasing 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 worth approximately $145,000. Hedge funds and other institutional investors own 67.79% 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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