AK Steel Holding Co. (NYSE:AKS)’s share price shot up 5.1% during mid-day trading on Tuesday . The stock traded as high as $3.16 and last traded at $3.12, 12,282,936 shares changed hands during mid-day trading. An increase of 69% from the average session volume of 7,273,322 shares. The stock had previously closed at $2.97.
Several brokerages have issued reports on AKS. Exane BNP Paribas began coverage on shares of AK Steel in a report on Thursday, November 14th. They issued an “underperform” rating and a $2.00 target price for the company. ValuEngine cut shares of AK Steel from a “sell” rating to a “strong sell” rating in a report on Saturday, December 7th. JPMorgan Chase & Co. raised shares of AK Steel to a “hold” rating in a report on Thursday, December 19th. Finally, UBS Group raised shares of AK Steel from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $2.00 to $3.50 in a report on Wednesday, December 11th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. AK Steel currently has a consensus rating of “Hold” and an average price target of $2.56.
The business’s 50 day moving average price is $3.16 and its 200 day moving average price is $2.61. The stock has a market capitalization of $951.70 million, a P/E ratio of 4.88 and a beta of 3.18. The company has a debt-to-equity ratio of 4.77, a current ratio of 2.06 and a quick ratio of 0.70.
AK Steel (NYSE:AKS) last announced its quarterly earnings results on Wednesday, October 30th. The basic materials company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). AK Steel had a return on equity of 42.48% and a net margin of 1.50%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the firm earned $0.21 earnings per share. The business’s revenue was down 11.5% compared to the same quarter last year. As a group, analysts forecast that AK Steel Holding Co. will post 0.36 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in the company. 6 Meridian grew its stake in shares of AK Steel by 11.7% in the fourth quarter. 6 Meridian now owns 109,117 shares of the basic materials company’s stock worth $359,000 after acquiring an additional 11,460 shares during the period. Millennium Management LLC grew its position in AK Steel by 59.4% during the third quarter. Millennium Management LLC now owns 473,896 shares of the basic materials company’s stock valued at $1,075,000 after buying an additional 176,547 shares during the period. Squarepoint Ops LLC grew its position in AK Steel by 85.5% during the third quarter. Squarepoint Ops LLC now owns 275,800 shares of the basic materials company’s stock valued at $626,000 after buying an additional 127,087 shares during the period. Public Employees Retirement System of Ohio grew its position in AK Steel by 14.4% during the third quarter. Public Employees Retirement System of Ohio now owns 34,744 shares of the basic materials company’s stock valued at $79,000 after buying an additional 4,368 shares during the period. Finally, Sunbelt Securities Inc. bought a new stake in AK Steel during the third quarter valued at approximately $27,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.
AK Steel Company Profile (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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