AK Steel Holding Corporation (AKS) Given Average Rating of “Buy” by Brokerages

Shares of AK Steel Holding Corporation (NYSE:AKS) have received an average recommendation of “Buy” from the seventeen ratings firms that are currently covering the company, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $8.24.

AKS has been the topic of several recent research reports. Longbow Research initiated coverage on shares of AK Steel Holding Corporation in a research note on Friday, May 19th. They issued a “neutral” rating on the stock. Clarkson Capital raised shares of AK Steel Holding Corporation from a “neutral” rating to a “buy” rating and set a $8.00 target price on the stock in a research note on Thursday, May 25th. Deutsche Bank AG upgraded shares of AK Steel Holding Corporation from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Friday, June 23rd. Jefferies Group LLC reiterated a “buy” rating and issued a $9.00 price target on shares of AK Steel Holding Corporation in a research report on Wednesday, June 28th. Finally, Zacks Investment Research downgraded shares of AK Steel Holding Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th.

Hedge funds have recently made changes to their positions in the business. Cornerstone Financial Partners LLC acquired a new stake in AK Steel Holding Corporation during the 2nd quarter worth approximately $154,000. Vanguard Group Inc. raised its holdings in AK Steel Holding Corporation by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 37,074,630 shares of the basic materials company’s stock worth $266,566,000 after buying an additional 2,308,220 shares during the period. First Trust Advisors LP raised its holdings in AK Steel Holding Corporation by 56.9% during the 2nd quarter. First Trust Advisors LP now owns 377,889 shares of the basic materials company’s stock worth $2,483,000 after buying an additional 137,078 shares during the period. Royce & Associates LP raised its holdings in AK Steel Holding Corporation by 9.0% during the 2nd quarter. Royce & Associates LP now owns 1,841,109 shares of the basic materials company’s stock worth $12,096,000 after buying an additional 152,500 shares during the period. Finally, Boston Advisors LLC raised its holdings in AK Steel Holding Corporation by 11.6% during the 2nd quarter. Boston Advisors LLC now owns 598,670 shares of the basic materials company’s stock worth $3,933,000 after buying an additional 62,070 shares during the period. Hedge funds and other institutional investors own 72.86% of the company’s stock.

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Shares of AK Steel Holding Corporation (AKS) opened at 5.76 on Wednesday. The stock’s 50 day moving average is $5.55 and its 200-day moving average is $6.39. AK Steel Holding Corporation has a 12-month low of $3.87 and a 12-month high of $11.39. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 15.08 and a beta of 2.87.

AK Steel Holding Corporation (NYSE:AKS) last issued its earnings results on Tuesday, July 25th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.06. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.55 billion. AK Steel Holding Corporation had a net margin of 1.88% and a return on equity of 735.25%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 EPS. On average, analysts anticipate that AK Steel Holding Corporation will post $0.52 EPS for the current fiscal year.

About AK Steel Holding Corporation

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 Holding Corporation (NYSE:AKS)

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