AK Steel Holding Co. (NYSE:AKS)’s stock price traded up 6.3% on Tuesday . The stock traded as high as $2.63 and last traded at $2.53, 10,834,966 shares changed hands during mid-day trading. An increase of 20% from the average session volume of 9,055,699 shares. The stock had previously closed at $2.38.
Several equities analysts have weighed in on the stock. Cowen reiterated a “market perform” rating and issued a $2.40 target price (up from $1.90) on shares of AK Steel in a report on Wednesday, July 31st. BMO Capital Markets set a $3.00 target price on shares of AK Steel and gave the company a “hold” rating in a report on Wednesday, July 31st. Credit Suisse Group lowered shares of AK Steel from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $3.50 to $2.05 in a report on Thursday, May 23rd. Citigroup set a $3.00 target price on shares of AK Steel and gave the company a “hold” rating in a report on Wednesday, July 31st. Finally, Deutsche Bank set a $2.00 target price on shares of AK Steel and gave the company a “hold” rating in a report on Thursday, May 30th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $2.73.
The company’s 50 day moving average is $2.40. The company has a market capitalization of $771.98 million, a price-to-earnings ratio of 3.95, a PEG ratio of 1.15 and a beta of 3.07. The company has a debt-to-equity ratio of 4.54, a current ratio of 2.02 and a quick ratio of 0.76.
AK Steel (NYSE:AKS) last released its quarterly earnings results on Monday, July 29th. The basic materials company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.15. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.73 billion. AK Steel had a net margin of 2.40% and a return on equity of 57.52%. The business’s revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 EPS. Equities research analysts forecast that AK Steel Holding Co. will post 0.42 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Naples Global Advisors LLC purchased a new stake in AK Steel during the 2nd quarter worth approximately $25,000. Convergence Investment Partners LLC purchased a new stake in AK Steel during the 1st quarter worth approximately $30,000. Janney Montgomery Scott LLC purchased a new stake in AK Steel during the 1st quarter worth approximately $33,000. Nomura Asset Management Co. Ltd. purchased a new stake in AK Steel during the 1st quarter worth approximately $42,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in AK Steel during the 1st quarter worth approximately $45,000. 60.63% of the stock is currently owned by institutional investors and hedge funds.
About AK Steel (NYSE:AKS)
AK Steel Holding Corporation, through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, and stainless and electrical steel 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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