Zacks Investment Research lowered shares of AK Steel Holding Corporation (NYSE:AKS) from a hold rating to a sell rating in a research report report published on Tuesday, July 11th.

According to Zacks, “AK Steel faces a challenging macroeconomic environment and weakness in the electrical steel market. It is also exposed to a volatile raw material pricing environment. The U.S. steel industry is also not out of the woods yet. AK Steel has also underperformed the Zacks categorized 'Steel-Producers' industry over a year.”

Several other research analysts also recently issued reports on AKS. Vetr downgraded AK Steel Holding Corporation from a strong-buy rating to a buy rating and set a $8.95 price objective for the company. in a research note on Wednesday, March 15th. J P Morgan Chase & Co reissued a neutral rating and set a $9.00 target price (up previously from $8.00) on shares of AK Steel Holding Corporation in a research report on Wednesday, March 22nd. Citigroup Inc. raised shares of AK Steel Holding Corporation from a sell rating to a neutral rating and decreased their target price for the company from $8.00 to $7.00 in a research report on Wednesday, April 19th. Jefferies Group LLC increased their target price on shares of AK Steel Holding Corporation from $9.00 to $11.50 and gave the company a hold rating in a research report on Wednesday, April 19th. Finally, Macquarie upgraded AK Steel Holding Corporation from a neutral rating to an outperform rating and increased their price target for the stock from $7.30 to $8.10 in a report on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Hold and an average target price of $8.06.

Shares of AK Steel Holding Corporation (NYSE AKS) traded up 0.92% during mid-day trading on Tuesday, hitting $5.51. 15,852,967 shares of the stock traded hands. The stock has a 50-day moving average of $6.27 and a 200-day moving average of $7.01. AK Steel Holding Corporation has a 52 week low of $3.87 and a 52 week high of $11.39. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 14.42 and a beta of 2.86.

AK Steel Holding Corporation (NYSE:AKS) last released its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.06. AK Steel Holding Corporation had a return on equity of 735.25% and a net margin of 1.88%. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the firm posted $0.08 earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year. Analysts anticipate that AK Steel Holding Corporation will post $0.49 EPS for the current year.

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A number of hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. increased its stake in shares of AK Steel Holding Corporation by 7.4% in the second quarter. American Century Companies Inc. now owns 1,003,135 shares of the basic materials company’s stock valued at $6,591,000 after buying an additional 68,850 shares during the last quarter. Truepoint Inc. boosted its stake in shares of AK Steel Holding Corporation by 75.0% in the second quarter. Truepoint Inc. now owns 35,000 shares of the basic materials company’s stock valued at $187,000 after buying an additional 15,000 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of AK Steel Holding Corporation by 36.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 156,436 shares of the basic materials company’s stock valued at $1,028,000 after buying an additional 41,484 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of AK Steel Holding Corporation during the second quarter valued at $357,000. Finally, Shikiar Asset Management Inc. boosted its stake in shares of AK Steel Holding Corporation by 2.5% in the second quarter. Shikiar Asset Management Inc. now owns 62,500 shares of the basic materials company’s stock valued at $411,000 after buying an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

About AK Steel Holding Corporation

AK Steel Holding Corporation is a producer of flat-rolled carbon, stainless and electrical steels, and tubular products through its subsidiary, AK Steel Corporation (AK Steel). The Company also operates blast furnaces and electric arc furnaces. As of December 31, 2016, its operations included eight steelmaking and finishing plants, two coke plants and two tube manufacturing plants across states, including Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia, and a tube manufacturing plant in Mexico.

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Analyst Recommendations for AK Steel Holding Corporation (NYSE:AKS)

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