Bank of America Corporation reaffirmed their buy rating on shares of AK Steel Holding Corporation (NYSE:AKS) in a research report sent to investors on Wednesday morning. They currently have a $9.00 target price on the basic materials company’s stock.

Several other research firms also recently commented on AKS. Zacks Investment Research raised shares of AK Steel Holding Corporation from a sell rating to a hold rating in a research note on Thursday, July 20th. Jefferies Group LLC reissued a buy rating and set a $9.00 price target on shares of AK Steel Holding Corporation in a research note on Wednesday, June 28th. Deutsche Bank AG raised shares of AK Steel Holding Corporation from a hold rating to a buy rating and set a $10.00 price target on the stock in a research note on Friday, June 23rd. Longbow Research downgraded shares of AK Steel Holding Corporation from a buy rating to a neutral rating and lifted their price target for the stock from $6.20 to $6.24 in a research note on Thursday, July 27th. Finally, ValuEngine downgraded shares of AK Steel Holding Corporation from a strong-buy rating to a buy rating in a research note on Thursday, July 27th. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $8.46.

Shares of AK Steel Holding Corporation (AKS) opened at 5.87 on Wednesday. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 15.37 and a beta of 2.87. The firm’s 50-day moving average is $5.57 and its 200-day moving average is $6.44. AK Steel Holding Corporation has a 12-month low of $3.87 and a 12-month high of $11.39.

AK Steel Holding Corporation (NYSE:AKS) last posted its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.13 by $0.06. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.55 billion. AK Steel Holding Corporation had a net margin of 1.88% and a return on equity of 735.25%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $0.08 earnings per share. On average, equities analysts predict that AK Steel Holding Corporation will post $0.52 EPS for the current year.

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A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in AK Steel Holding Corporation by 52,055.2% during the first quarter. BlackRock Inc. now owns 39,293,178 shares of the basic materials company’s stock valued at $282,518,000 after buying an additional 39,217,839 shares during the period. Vanguard Group Inc. lifted its position in AK Steel Holding Corporation by 6.6% during the first quarter. Vanguard Group Inc. now owns 37,074,630 shares of the basic materials company’s stock valued at $266,566,000 after buying an additional 2,308,220 shares during the period. TIAA CREF Investment Management LLC lifted its position in AK Steel Holding Corporation by 25.6% during the first quarter. TIAA CREF Investment Management LLC now owns 16,463,348 shares of the basic materials company’s stock valued at $118,371,000 after buying an additional 3,357,464 shares during the period. State Street Corp raised its position in shares of AK Steel Holding Corporation by 20.3% in the 1st quarter. State Street Corp now owns 12,737,201 shares of the basic materials company’s stock worth $91,579,000 after purchasing an additional 2,151,457 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in shares of AK Steel Holding Corporation by 63.5% in the 1st quarter. Teachers Advisors LLC now owns 8,114,044 shares of the basic materials company’s stock worth $58,340,000 after purchasing an additional 3,150,282 shares during the last quarter. 72.86% of the stock is owned by institutional investors and hedge funds.

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.

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

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