AK Steel Holding Co. (NYSE:AKS) has been assigned an average recommendation of “Hold” from the fifteen analysts that are currently covering the company. Three analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $8.18.
A number of equities analysts have recently issued reports on the stock. Credit Suisse Group AG lowered shares of AK Steel Holding from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $8.00 to $9.50 in a research report on Thursday, January 12th. Zacks Investment Research upgraded shares of AK Steel Holding from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Wednesday, January 4th. Citigroup Inc lowered shares of AK Steel Holding from a “neutral” rating to a “sell” rating and set a $8.00 price objective on the stock. in a research report on Thursday, January 19th. Vetr upgraded shares of AK Steel Holding from a “buy” rating to a “strong-buy” rating and set a $10.52 price objective on the stock in a research report on Monday, January 23rd. Finally, JPMorgan Chase & Co. downgraded AK Steel Holding from an “overweight” rating to a “neutral” rating and set a $8.00 target price for the company. in a report on Wednesday, January 25th.
Several institutional investors have recently made changes to their positions in AKS. Lucus Advisors LLC raised its position in shares of AK Steel Holding by 2.0% in the third quarter. Lucus Advisors LLC now owns 79,301 shares of the basic materials company’s stock worth $383,000 after buying an additional 1,558 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in AK Steel Holding during the third quarter valued at about $106,000. Victory Capital Management Inc. purchased a new stake in AK Steel Holding during the third quarter valued at about $19,565,000. Neuberger Berman Group LLC purchased a new stake in AK Steel Holding during the third quarter valued at about $498,000. Finally, Wells Fargo & Company MN raised its stake in AK Steel Holding by 24.4% in the third quarter. Wells Fargo & Company MN now owns 303,542 shares of the basic materials company’s stock valued at $1,466,000 after buying an additional 59,626 shares in the last quarter. 62.21% of the stock is currently owned by institutional investors.
Shares of AK Steel Holding (NYSE:AKS) traded down 1.2639% during trading on Monday, hitting $6.7338. 16,854,719 shares of the company traded hands. AK Steel Holding has a 52 week low of $3.31 and a 52 week high of $11.39. The company’s market capitalization is $2.12 billion. The company has a 50 day moving average price of $7.40 and a 200 day moving average price of $7.96.
AK Steel Holding (NYSE:AKS) last announced its quarterly earnings results on Tuesday, January 24th. The basic materials company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.18. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. AK Steel Holding had a negative net margin of 0.13% and a negative return on equity of 47.34%. The firm’s revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 earnings per share. On average, analysts expect that AK Steel Holding will post $0.68 earnings per share for the current year.
AK Steel Holding 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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