AK Steel Holding Co. (AKS) Receives Average Recommendation of “Hold” from Analysts

AK Steel Holding Co. (NYSE:AKS) has been assigned an average rating of “Hold” from the sixteen brokerages that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $5.39.

A number of equities research analysts have recently issued reports on AKS shares. Morgan Stanley raised shares of AK Steel from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $6.00 to $5.50 in a report on Monday, August 27th. Zacks Investment Research raised shares of AK Steel from a “sell” rating to a “hold” rating in a report on Monday, November 12th. Seaport Global Securities started coverage on shares of AK Steel in a report on Thursday, October 11th. They issued a “neutral” rating and a $5.00 price target on the stock. ValuEngine downgraded shares of AK Steel from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 24th. Finally, Bank of America raised shares of AK Steel from an “underperform” rating to a “buy” rating and set a $6.00 price target on the stock in a report on Friday, September 7th.

AKS opened at $2.95 on Friday. The stock has a market cap of $975.03 million, a P/E ratio of 9.52, a P/E/G ratio of 1.03 and a beta of 2.71. The company has a debt-to-equity ratio of 4.65, a current ratio of 2.03 and a quick ratio of 0.77. AK Steel has a fifty-two week low of $2.90 and a fifty-two week high of $6.80.

AK Steel (NYSE:AKS) last posted its quarterly earnings results on Thursday, October 25th. The basic materials company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.02). The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.82 billion. AK Steel had a net margin of 0.67% and a return on equity of 45.52%. Analysts predict that AK Steel will post 0.6 earnings per share for the current year.

In other news, CEO Roger K. Newport purchased 10,000 shares of the business’s stock in a transaction on Tuesday, November 27th. The stock was acquired at an average cost of $3.03 per share, for a total transaction of $30,300.00. Following the purchase, the chief executive officer now directly owns 461,297 shares in the company, valued at approximately $1,397,729.91. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.13% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of AKS. Schwab Charles Investment Management Inc. increased its position in shares of AK Steel by 12.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,266,504 shares of the basic materials company’s stock valued at $9,837,000 after purchasing an additional 244,247 shares during the last quarter. OppenheimerFunds Inc. grew its position in shares of AK Steel by 13.4% during the 2nd quarter. OppenheimerFunds Inc. now owns 822,828 shares of the basic materials company’s stock worth $3,571,000 after buying an additional 97,088 shares in the last quarter. United Services Automobile Association grew its position in shares of AK Steel by 615.9% during the 2nd quarter. United Services Automobile Association now owns 344,674 shares of the basic materials company’s stock worth $101,827,000 after buying an additional 296,531 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of AK Steel by 6.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,357,323 shares of the basic materials company’s stock worth $31,931,000 after purchasing an additional 460,313 shares during the last quarter. Finally, Virtu Financial LLC lifted its stake in shares of AK Steel by 358.7% during the 3rd quarter. Virtu Financial LLC now owns 248,088 shares of the basic materials company’s stock worth $1,216,000 after purchasing an additional 194,005 shares during the last quarter. 65.95% of the stock is currently owned by institutional investors.

AK Steel Company Profile

AK Steel Holding Corporation, through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, stainless, and electrical steels, and tubular products in the United States and internationally. It produces flat-rolled carbon steel products, including coated, cold-rolled, and hot-rolled carbon steel products; grain-oriented specialty stainless and electrical steels; and carbon and stainless steel tubing products.

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Analyst Recommendations for AK Steel (NYSE:AKS)

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