Vetr cut shares of AK Steel (NYSE:AKS) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday. The brokerage currently has $6.34 price target on the basic materials company’s stock.
AKS has been the subject of several other research reports. Zacks Investment Research raised shares of AK Steel from a hold rating to a buy rating and set a $7.50 price objective for the company in a research note on Monday, January 8th. Cowen reiterated a hold rating and issued a $7.00 target price on shares of AK Steel in a research note on Thursday, January 4th. Jefferies Group downgraded shares of AK Steel from a buy rating to a hold rating and reduced their target price for the stock from $6.64 to $6.50 in a research note on Tuesday, January 9th. Longbow Research upgraded shares of AK Steel from a neutral rating to a buy rating and lifted their target price for the stock from $5.53 to $7.00 in a research note on Wednesday, December 20th. Finally, JPMorgan Chase & Co. upgraded shares of AK Steel from a neutral rating to an overweight rating and lifted their target price for the stock from $6.00 to $7.00 in a research note on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. AK Steel presently has a consensus rating of Hold and an average target price of $6.69.
Shares of AK Steel (AKS) opened at $5.26 on Thursday. The stock has a market cap of $1,660.00, a P/E ratio of 47.82, a P/E/G ratio of 1.96 and a beta of 2.73. AK Steel has a fifty-two week low of $4.00 and a fifty-two week high of $8.65. The company has a quick ratio of 0.69, a current ratio of 1.83 and a debt-to-equity ratio of 16.33.
Large investors have recently modified their holdings of the stock. MetLife Investment Advisors LLC purchased a new position in AK Steel in the 4th quarter worth approximately $728,000. LPL Financial LLC grew its stake in AK Steel by 85.2% in the 4th quarter. LPL Financial LLC now owns 81,550 shares of the basic materials company’s stock worth $462,000 after buying an additional 37,522 shares in the last quarter. Millennium Management LLC grew its stake in 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 worth $19,031,000 after buying an additional 2,198,798 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in AK Steel by 11.5% in 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 in the last quarter. Finally, Raymond James & Associates grew its stake in AK Steel by 182.0% in 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 in the last quarter. 67.23% of the stock is owned by institutional investors.
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AK Steel Company Profile
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.
To view Vetr’s full report, visit Vetr’s official website.
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