AK Steel’s (AKS) Hold Rating Reaffirmed at Cowen

Cowen reissued their hold rating on shares of AK Steel (NYSE:AKS) in a research report report published on Thursday morning. The brokerage currently has a $7.00 target price on the basic materials company’s stock.

A number of other brokerages have also recently issued reports on AKS. Macquarie began coverage on AK Steel in a research report on Wednesday, September 6th. They issued an outperform rating and a $7.00 target price for the company. Bank of America reissued a buy rating and issued a $9.00 target price on shares of AK Steel in a research report on Wednesday, September 6th. BMO Capital Markets reissued a hold rating and issued a $7.00 target price on shares of AK Steel in a research report on Thursday, October 5th. Longbow Research reissued a neutral rating on shares of AK Steel in a research report on Tuesday, October 3rd. Finally, KeyCorp reissued a hold rating on shares of AK Steel in a research report on Tuesday, September 19th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $7.72.

Shares of AK Steel (NYSE AKS) traded up $0.21 during midday trading on Thursday, hitting $6.55. The company had a trading volume of 21,207,000 shares, compared to its average volume of 22,716,400. The firm has a market cap of $2,060.00, a PE ratio of 43.67, a PEG ratio of 2.00 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. AK Steel has a 1 year low of $4.00 and a 1 year high of $11.28.

Institutional investors and hedge funds have recently bought and sold shares of the business. Riverhead Capital Management LLC raised its stake in AK Steel by 74.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 17,616 shares of the basic materials company’s stock valued at $116,000 after acquiring an additional 7,516 shares during the last quarter. MML Investors Services LLC purchased a new stake in AK Steel during the 2nd quarter valued at approximately $141,000. Raymond James Financial Services Advisors Inc. raised its stake in AK Steel by 0.9% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 21,887 shares of the basic materials company’s stock valued at $144,000 after acquiring an additional 193 shares during the last quarter. IPG Investment Advisors LLC purchased a new stake in AK Steel during the 3rd quarter valued at approximately $145,000. Finally, First Allied Advisory Services Inc. raised its stake in AK Steel by 33.9% during the 2nd quarter. First Allied Advisory Services Inc. now owns 25,717 shares of the basic materials company’s stock valued at $172,000 after acquiring an additional 6,507 shares during the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

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About AK Steel

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 (NYSE:AKS)

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