UBS began coverage on shares of AK Steel (NYSE:AKS) in a research report issued to clients and investors on Tuesday, www.benzinga.com reports. The brokerage set a “sell” rating and a $3.25 price target on the basic materials company’s stock. UBS’s price objective would suggest a potential downside of 31.58% from the company’s current price.
Other equities research analysts have also issued research reports about the company. Goldman Sachs initiated coverage on AK Steel in a research report on Tuesday, March 20th. They issued a “neutral” rating and a $6.00 price target on the stock. ValuEngine upgraded AK Steel from a “sell” rating to a “hold” rating in a research report on Wednesday, March 14th. Morgan Stanley reduced their price target on AK Steel from $7.00 to $6.50 and set an “equal weight” rating on the stock in a research report on Wednesday, January 31st. Jefferies Group reiterated a “hold” rating and issued a $6.00 price target on shares of AK Steel in a research report on Tuesday, January 30th. Finally, Cowen reiterated a “hold” rating and issued a $5.50 price target on shares of AK Steel in a research report on Wednesday, January 31st. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $6.40.
AKS stock traded up $0.04 during midday trading on Tuesday, reaching $4.75. 4,478,755 shares of the stock were exchanged, compared to its average volume of 20,056,535. The firm has a market capitalization of $1,428.23, a P/E ratio of 15.29, a P/E/G ratio of 1.43 and a beta of 2.89. AK Steel has a 52 week low of $4.00 and a 52 week high of $7.54. The company has a quick ratio of 0.69, a current ratio of 1.83 and a debt-to-equity ratio of 16.33.
Several large investors have recently made changes to their positions in the company. MetLife Investment Advisors LLC acquired a new position in shares of AK Steel in the 4th quarter valued at about $728,000. LPL Financial LLC lifted its stake in shares of AK Steel by 85.2% in the 4th quarter. LPL Financial LLC now owns 81,550 shares of the basic materials company’s stock valued at $462,000 after purchasing an additional 37,522 shares during the period. Millennium Management LLC lifted its stake in shares of AK Steel by 189.0% in the 4th quarter. Millennium Management LLC now owns 3,362,383 shares of the basic materials company’s stock valued at $19,031,000 after purchasing an additional 2,198,798 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its stake in AK Steel by 11.5% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 154,231 shares of the basic materials company’s stock worth $874,000 after buying an additional 15,950 shares during the period. Finally, Raymond James & Associates raised its stake in AK Steel by 182.0% during the 4th quarter. Raymond James & Associates now owns 117,679 shares of the basic materials company’s stock worth $666,000 after buying an additional 75,946 shares during the period. 67.84% of the stock is currently owned by institutional investors.
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About AK Steel
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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