AK Steel Holding Co. (NYSE:AKS) gapped down prior to trading on Wednesday . The stock had previously closed at $5.73, but opened at $6.09. AK Steel shares last traded at $6.36, with a volume of 17829564 shares trading hands.

Several equities research analysts have commented on AKS shares. Jefferies Group reiterated a “buy” rating on shares of AK Steel in a research note on Friday, November 10th. Longbow Research upgraded shares of AK Steel from a “neutral” rating to a “buy” rating and increased their price objective for the company from $5.53 to $7.00 in a research note on Wednesday, December 20th. Zacks Investment Research upgraded shares of AK Steel from a “hold” rating to a “buy” rating and set a $7.50 price objective for the company in a research note on Monday. TheStreet lowered shares of AK Steel from a “c” rating to a “d+” rating in a research note on Tuesday, October 31st. Finally, KeyCorp reiterated a “hold” rating on shares of AK Steel in a research note on Tuesday, September 19th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $7.54.

The company has a market capitalization of $2,030.00, a PE ratio of 42.93, a price-to-earnings-growth ratio of 2.08 and a beta of 2.90. The company has a current ratio of 1.92, a quick ratio of 0.75 and a debt-to-equity ratio of 11.89.

Institutional investors have recently added to or reduced their stakes in the company. New Jersey Better Educational Savings Trust bought a new position in shares of AK Steel during the 3rd quarter valued at approximately $1,118,000. Northern Trust Corp grew its position in shares of AK Steel by 3.6% during the 2nd quarter. Northern Trust Corp now owns 3,829,715 shares of the basic materials company’s stock valued at $25,160,000 after acquiring an additional 132,062 shares during the period. Stevens Capital Management LP bought a new position in shares of AK Steel during the 3rd quarter valued at approximately $488,000. BW Gestao de Investimentos Ltda. bought a new position in AK Steel in the 2nd quarter worth approximately $9,855,000. Finally, Benefit Street Partners LLC bought a new position in AK Steel in the 2nd quarter worth approximately $4,008,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

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AK Steel Company Profile

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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