Goldman Sachs began coverage on shares of AK Steel (NYSE:AKS) in a report published on Tuesday, MarketBeat.com reports. The firm issued a neutral rating and a $6.00 price objective on the basic materials company’s stock.
Several other brokerages have also recently weighed in on AKS. Jefferies Group cut AK Steel from a buy rating to a hold rating and dropped their price objective for the company from $6.64 to $6.50 in a report on Tuesday, January 9th. Bank of America cut AK Steel from a buy rating to an underperform rating and dropped their price objective for the company from $8.00 to $5.50 in a report on Wednesday, January 31st. Vetr cut AK Steel from a strong-buy rating to a buy rating and set a $6.34 price objective for the company. in a report on Thursday, March 8th. Morgan Stanley dropped their price objective on AK Steel from $7.00 to $6.50 and set an equal weight rating for the company in a report on Wednesday, January 31st. Finally, Zacks Investment Research cut AK Steel from a buy rating to a hold rating in a report on Wednesday, January 17th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. AK Steel currently has an average rating of Hold and an average price target of $6.65.
Shares of AK Steel (NYSE:AKS) opened at $4.40 on Tuesday. The stock has a market capitalization of $1,554.35, a price-to-earnings ratio of 220.11, a P/E/G ratio of 1.70 and a beta of 2.74. AK Steel has a one year low of $4.00 and a one year high of $7.70. The company has a quick ratio of 0.69, a current ratio of 1.83 and a debt-to-equity ratio of 16.33.
AK Steel (NYSE:AKS) last announced its quarterly earnings data on Tuesday, January 30th. The basic materials company reported ($0.06) earnings per share for the quarter, beating the Thomson Reuters’ 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 EPS. equities analysts predict that AK Steel will post 0.58 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of AKS. Millennium Management LLC raised its holdings in shares of AK Steel by 189.0% during the 4th quarter. Millennium Management LLC now owns 3,362,383 shares of the basic materials company’s stock worth $19,031,000 after buying an additional 2,198,798 shares in the last quarter. Shellback Capital LP acquired a new position in shares of AK Steel during the 4th quarter worth $6,816,000. Masters Capital Management LLC acquired a new position in shares of AK Steel during the 4th quarter worth $5,660,000. Creative Planning raised its holdings in shares of AK Steel by 66.7% during the 4th quarter. Creative Planning now owns 2,327,366 shares of the basic materials company’s stock worth $13,173,000 after buying an additional 931,560 shares in the last quarter. Finally, BlueCrest Capital Management Ltd raised its holdings in shares of AK Steel by 77.6% during the 4th quarter. BlueCrest Capital Management Ltd now owns 1,792,056 shares of the basic materials company’s stock worth $10,143,000 after buying an additional 783,002 shares in the last quarter. 67.76% of the stock is owned by 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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