UBS began coverage on shares of AK Steel (NYSE:AKS) in a report released on Tuesday morning, www.benzinga.com reports. The brokerage issued a sell rating and a $3.25 target price 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. Zacks Investment Research cut AK Steel from a buy rating to a hold rating in a report on Wednesday, January 17th. Finally, 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. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. The company has an average rating of Hold and a consensus price target of $6.42.
Shares of NYSE AKS opened at $4.75 on Tuesday. The firm has a market capitalization of $1,484.99, a price-to-earnings ratio of 15.32, a P/E/G ratio of 1.46 and a beta of 2.89. 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 has a fifty-two week low of $4.00 and a fifty-two week high of $7.54.
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 research analysts forecast that AK Steel will post 0.65 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of AKS. Louisiana State Employees Retirement System grew its position in AK Steel by 6.1% during the 4th quarter. Louisiana State Employees Retirement System now owns 135,400 shares of the basic materials company’s stock worth $766,000 after acquiring an additional 7,800 shares during the last quarter. California Public Employees Retirement System grew its position in AK Steel by 3.5% during the 4th quarter. California Public Employees Retirement System now owns 428,300 shares of the basic materials company’s stock worth $2,424,000 after acquiring an additional 14,300 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in AK Steel by 11.5% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 154,231 shares of the basic materials company’s stock worth $874,000 after acquiring an additional 15,950 shares during the last quarter. CIBC Asset Management Inc grew its position in AK Steel by 68.0% during the 4th quarter. CIBC Asset Management Inc now owns 39,756 shares of the basic materials company’s stock worth $225,000 after acquiring an additional 16,094 shares during the last quarter. Finally, Crow Point Partners LLC bought a new stake in AK Steel during the 4th quarter worth $110,000. Institutional investors own 67.84% of the company’s stock.
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AK Steel Company Profile
AK Steel Holding Corporation, through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, stainless, and electrical steels, and tubular products in the United States and internationally. It produces flat-rolled carbon steel products, including coated, cold-rolled, and hot-rolled carbon steel products; grain-oriented specialty stainless and electrical steels; and carbon and stainless steel tubing products.
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