Shares of AK Steel Holding Co. (NYSE:AKS) have received an average recommendation of “Hold” from the nineteen ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $6.65.
A number of research firms recently issued reports on AKS. Vetr cut shares of AK Steel from a “strong-buy” rating to a “buy” rating and set a $6.34 price objective for the company. in a research report on Thursday. upgraded shares of AK Steel from a “neutral” rating to an “outperform” rating in a research report on Tuesday, November 21st. Jefferies Group reiterated a “hold” rating and set a $6.00 price objective on shares of AK Steel in a research report on Tuesday, January 30th. Zacks Investment Research upgraded shares of AK Steel from a “sell” rating to a “hold” rating in a research report on Wednesday, November 22nd. Finally, Morgan Stanley lowered their price objective on shares of AK Steel from $7.00 to $6.50 and set an “equal weight” rating for the company in a research report on Wednesday, January 31st.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Crow Point Partners LLC bought a new stake in shares of AK Steel in the 4th quarter valued at $110,000. Delpha Capital Management LLC bought a new stake in shares of AK Steel in the 4th quarter valued at $123,000. Hourglass Capital LLC bought a new stake in shares of AK Steel in the 4th quarter valued at $133,000. Raymond James Financial Services Advisors Inc. boosted its stake in shares of AK Steel by 0.9% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 21,887 shares of the basic materials company’s stock valued at $144,000 after purchasing an additional 193 shares during the last quarter. Finally, IPG Investment Advisors LLC bought a new stake in shares of AK Steel in the 3rd quarter valued at $145,000. 67.81% of the stock is currently owned by hedge funds and other institutional investors.
AK Steel (NYSE:AKS) last issued its earnings results on Tuesday, January 30th. The basic materials company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.07. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. AK Steel had a net margin of 0.16% and a return on equity of 71.24%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 EPS. sell-side analysts forecast that AK Steel will post 0.54 EPS for the current fiscal year.
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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.
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