AK Steel Holding Corp. (AKS) Lifted to “Hold” at Deutsche Bank AG
AK Steel Holding Corp. (NYSE:AKS) was upgraded by equities research analysts at Deutsche Bank AG from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
Several other analysts have also issued reports on AKS. Vetr upgraded AK Steel Holding Corp. from a “hold” rating to a “strong-buy” rating and set a $5.78 price objective for the company in a report on Wednesday, August 24th. Barclays PLC increased their price objective on AK Steel Holding Corp. from $5.00 to $6.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 3rd. Jefferies Group cut their price objective on AK Steel Holding Corp. from $5.50 to $4.50 and set a “hold” rating for the company in a report on Thursday, September 15th. Zacks Investment Research lowered AK Steel Holding Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, August 16th. Finally, Morgan Stanley reiterated a “hold” rating on shares of AK Steel Holding Corp. in a report on Tuesday, August 16th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $5.05.
AK Steel Holding Corp. (NYSE:AKS) opened at 4.83 on Monday. The firm’s market cap is $1.15 billion. AK Steel Holding Corp. has a 1-year low of $1.64 and a 1-year high of $7.09. The company has a 50 day moving average price of $4.64 and a 200 day moving average price of $4.68.
AK Steel Holding Corp. (NYSE:AKS) last released its earnings results on Tuesday, July 26th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.10. The company earned $1.49 billion during the quarter, compared to analyst estimates of $1.53 billion. AK Steel Holding Corp. had a negative return on equity of 12.89% and a negative net margin of 2.18%. The company’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.36) earnings per share. On average, equities research analysts forecast that AK Steel Holding Corp. will post $0.32 earnings per share for the current year.
In related news, Director Vicente Wright sold 27,000 shares of AK Steel Holding Corp. stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $6.70, for a total transaction of $180,900.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.80% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in AK Steel Holding Corp. by 76.0% in the second quarter. Vanguard Group Inc. now owns 25,910,412 shares of the company’s stock worth $120,742,000 after buying an additional 11,192,363 shares during the period. BlackRock Fund Advisors increased its stake in AK Steel Holding Corp. by 38.4% in the second quarter. BlackRock Fund Advisors now owns 15,281,224 shares of the company’s stock worth $71,211,000 after buying an additional 4,235,960 shares during the period. State Street Corp increased its stake in AK Steel Holding Corp. by 24.4% in the second quarter. State Street Corp now owns 10,542,005 shares of the company’s stock worth $49,124,000 after buying an additional 2,064,534 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in AK Steel Holding Corp. by 30.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,935,730 shares of the company’s stock worth $27,661,000 after buying an additional 1,396,118 shares during the period. Finally, Anchor Bolt Capital LP purchased a new stake in AK Steel Holding Corp. during the second quarter worth $21,206,000. 68.71% of the stock is currently owned by institutional investors and hedge funds.
About AK Steel Holding Corp.
AK Steel Holding Corporation is an integrated producer of flat-rolled carbon, stainless and electrical steels and tubular products through its subsidiary, AK Steel Corporation (AK Steel). The Company operates approximately eight steelmaking and finishing plants, over two coke plants and approximately two tube manufacturing plants across states, which include Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia.
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