Brokerages Set AK Steel Holding Corp. (AKS) PT at $6.19
Shares of AK Steel Holding Corp. (NYSE:AKS) have been given a consensus recommendation of “Hold” by the sixteen brokerages that are covering the stock. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $6.20.
Several brokerages recently commented on AKS. Vetr downgraded shares of AK Steel Holding Corp. from a “sell” rating to a “strong sell” rating and set a $6.36 price objective for the company. in a research note on Monday. Jefferies Group reissued a “hold” rating on shares of AK Steel Holding Corp. in a research note on Saturday, October 1st. Credit Suisse Group AG set a $8.00 price target on shares of AK Steel Holding Corp. and gave the company a “buy” rating in a research report on Saturday, October 8th. Rosenblatt Securities started coverage on shares of AK Steel Holding Corp. in a research report on Monday, August 22nd. They issued a “buy” rating and a $6.00 price target for the company. Finally, Barclays PLC upped their price target on shares of AK Steel Holding Corp. from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 3rd.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AKS. BlackRock Inc. raised its position in AK Steel Holding Corp. by 61.5% in the first quarter. BlackRock Inc. now owns 24,495 shares of the company’s stock worth $101,000 after buying an additional 9,327 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in AK Steel Holding Corp. during the third quarter worth $106,000. Wedbush Securities Inc. acquired a new position in AK Steel Holding Corp. during the third quarter worth $120,000. PineBridge Investments L.P. raised its position in AK Steel Holding Corp. by 41.7% in the second quarter. PineBridge Investments L.P. now owns 30,205 shares of the company’s stock worth $141,000 after buying an additional 8,896 shares during the period. Finally, Raymond James & Associates raised its position in AK Steel Holding Corp. by 4.7% in the second quarter. Raymond James & Associates now owns 30,628 shares of the company’s stock worth $143,000 after buying an additional 1,386 shares during the period. 59.52% of the stock is currently owned by hedge funds and other institutional investors.
AK Steel Holding Corp. (NYSE:AKS) opened at 7.50 on Wednesday. The company’s market capitalization is $1.79 billion. The stock’s 50 day moving average is $5.21 and its 200-day moving average is $4.87. AK Steel Holding Corp. has a 12 month low of $1.64 and a 12 month high of $7.54.
AK Steel Holding Corp. (NYSE:AKS) last issued its quarterly earnings data on Tuesday, October 25th. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.08. The business earned $1.45 billion during the quarter, compared to the consensus estimate of $1.47 billion. AK Steel Holding Corp. had a negative net margin of 1.54% and a negative return on equity of 24.32%. The firm’s revenue was down 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.04 EPS. On average, analysts expect that AK Steel Holding Corp. will post $0.30 EPS for the current year.
AK Steel Holding Corp. Company Profile
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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