AK Steel Holding Co. (NYSE:AKS) has been assigned a consensus rating of “Hold” from the fifteen brokerages that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $2.68.
Several analysts have recently weighed in on the company. Citigroup set a $3.00 price objective on AK Steel and gave the stock a “hold” rating in a report on Wednesday, July 31st. Goldman Sachs Group decreased their price objective on shares of AK Steel from $2.25 to $1.50 and set a “buy” rating on the stock in a report on Tuesday, June 4th. BMO Capital Markets set a $3.00 price objective on shares of AK Steel and gave the company a “hold” rating in a report on Wednesday, July 31st. Credit Suisse Group downgraded shares of AK Steel from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $3.50 to $2.05 in a report on Thursday, May 23rd. Finally, Deutsche Bank set a $2.00 price objective on shares of AK Steel and gave the company a “hold” rating in a report on Thursday, May 30th.
Shares of NYSE AKS traded up $0.10 during trading on Wednesday, hitting $2.39. 304,280 shares of the company were exchanged, compared to its average volume of 11,031,202. The company has a market cap of $708.70 million, a price-to-earnings ratio of 3.73, a PEG ratio of 1.06 and a beta of 3.07. AK Steel has a 1 year low of $1.66 and a 1 year high of $5.11. The firm’s fifty day moving average price is $2.40 and its 200 day moving average price is $2.52. The company has a debt-to-equity ratio of 4.54, a current ratio of 2.02 and a quick ratio of 0.76.
Several hedge funds and other institutional investors have recently modified their holdings of AKS. Naples Global Advisors LLC bought a new position in shares of AK Steel in the 2nd quarter valued at $25,000. Convergence Investment Partners LLC bought a new position in AK Steel in the 1st quarter worth about $30,000. Janney Montgomery Scott LLC bought a new position in AK Steel in the 1st quarter worth about $33,000. Nomura Asset Management Co. Ltd. bought a new position in AK Steel in the 1st quarter worth about $42,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in AK Steel in the 1st quarter worth about $45,000. Institutional investors and hedge funds own 61.84% of the company’s stock.
About AK Steel
AK Steel Holding Corporation, through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, and stainless and electrical steel 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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