AK Steel (AKS) PT Lowered to $2.50

AK Steel (NYSE:AKS) had its price objective lowered by Deutsche Bank to $2.50 in a research report sent to investors on Tuesday, The Fly reports. The brokerage currently has a hold rating on the basic materials company’s stock.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley set a $5.00 price target on shares of AK Steel and gave the stock a buy rating in a research note on Wednesday, November 7th. Zacks Investment Research raised shares of AK Steel from a sell rating to a hold rating in a research note on Monday, November 12th. Cowen started coverage on shares of AK Steel in a research note on Tuesday, January 8th. They set a market perform rating and a $2.50 price target for the company. Longbow Research cut shares of AK Steel from a buy rating to a neutral rating and set a $2.77 price target for the company. in a research note on Wednesday, January 30th. Finally, Macquarie cut shares of AK Steel from an outperform rating to a neutral rating and set a $3.00 price target for the company. in a research note on Tuesday, January 29th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $3.90.

NYSE AKS traded down $0.01 during trading hours on Tuesday, reaching $3.15. 284,385 shares of the company’s stock were exchanged, compared to its average volume of 10,823,886. AK Steel has a one year low of $2.05 and a one year high of $6.14. The company has a debt-to-equity ratio of 4.64, a quick ratio of 0.69 and a current ratio of 1.95. The stock has a market cap of $997.11 million, a price-to-earnings ratio of 4.95, a PEG ratio of 1.01 and a beta of 2.73.

AK Steel (NYSE:AKS) last issued its quarterly earnings results on Monday, January 28th. The basic materials company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.05. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.70 billion. AK Steel had a net margin of 2.73% and a return on equity of 54.01%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the business earned ($0.06) EPS. On average, analysts predict that AK Steel will post 0.59 EPS for the current year.

In related news, CEO Roger K. Newport acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, November 27th. The stock was bought at an average price of $3.03 per share, with a total value of $30,300.00. Following the acquisition, the chief executive officer now owns 461,297 shares in the company, valued at approximately $1,397,729.91. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.13% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of AK Steel by 1.6% in the 3rd quarter. BlackRock Inc. now owns 45,742,755 shares of the basic materials company’s stock valued at $224,140,000 after buying an additional 717,919 shares during the last quarter. Vanguard Group Inc boosted its holdings in shares of AK Steel by 1.7% in the 3rd quarter. Vanguard Group Inc now owns 32,062,343 shares of the basic materials company’s stock valued at $157,105,000 after buying an additional 531,265 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of AK Steel by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 32,062,343 shares of the basic materials company’s stock valued at $157,105,000 after buying an additional 531,265 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of AK Steel by 62.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,833,600 shares of the basic materials company’s stock valued at $48,184,000 after buying an additional 3,763,963 shares during the last quarter. Finally, Merriman Wealth Management LLC boosted its holdings in shares of AK Steel by 8.0% in the 4th quarter. Merriman Wealth Management LLC now owns 4,010,050 shares of the basic materials company’s stock valued at $10,266,000 after buying an additional 298,500 shares during the last quarter. 65.88% of the stock is 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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