Brokerages Set AK Steel Holding Co. (AKS) Target Price at $5.36

Shares of AK Steel Holding Co. (NYSE:AKS) have been given an average recommendation of “Hold” by the nineteen analysts that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $5.36.

Several brokerages have commented on AKS. Seaport Global Securities began coverage on AK Steel in a research note on Thursday, October 11th. They set a “neutral” rating and a $5.00 price target for the company. Clarkson Capital upgraded AK Steel from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 11th. Bank of America upgraded AK Steel from an “underperform” rating to a “buy” rating and set a $6.00 price target for the company in a research note on Friday, September 7th. Morgan Stanley lowered AK Steel to a “buy” rating in a research note on Tuesday, August 28th. Finally, ValuEngine upgraded AK Steel from a “strong sell” rating to a “sell” rating in a research note on Monday, July 30th.

AK Steel stock traded down $0.23 during trading on Thursday, hitting $4.44. The company’s stock had a trading volume of 11,320,271 shares, compared to its average volume of 8,463,537. The firm has a market capitalization of $1.40 billion, a P/E ratio of 16.44, a PEG ratio of 1.21 and a beta of 2.82. AK Steel has a 1-year low of $4.00 and a 1-year high of $6.80. The company has a current ratio of 2.01, a quick ratio of 0.76 and a debt-to-equity ratio of 5.49.

AK Steel (NYSE:AKS) last released its earnings results on Monday, July 30th. The basic materials company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. AK Steel had a negative net margin of 0.44% and a positive return on equity of 33.56%. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 earnings per share. As a group, equities analysts predict that AK Steel will post 0.73 EPS for the current year.

In related news, CEO Roger K. Newport bought 10,000 shares of the stock in a transaction dated Wednesday, August 15th. The stock was acquired at an average price of $4.03 per share, for a total transaction of $40,300.00. Following the completion of the purchase, the chief executive officer now owns 451,297 shares in the company, valued at $1,818,726.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.13% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its stake in shares of AK Steel by 106.2% in the first quarter. PNC Financial Services Group Inc. now owns 22,076 shares of the basic materials company’s stock valued at $100,000 after buying an additional 11,370 shares in the last quarter. New Jersey Better Educational Savings Trust boosted its holdings in AK Steel by 17.6% in the third quarter. New Jersey Better Educational Savings Trust now owns 100,000 shares of the basic materials company’s stock valued at $490,000 after purchasing an additional 15,000 shares during the last quarter. MetLife Investment Advisors LLC boosted its holdings in AK Steel by 11.7% in the first quarter. MetLife Investment Advisors LLC now owns 143,725 shares of the basic materials company’s stock valued at $651,000 after purchasing an additional 15,052 shares during the last quarter. Northern Trust Corp boosted its holdings in AK Steel by 0.4% in the second quarter. Northern Trust Corp now owns 3,854,893 shares of the basic materials company’s stock valued at $16,730,000 after purchasing an additional 16,163 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in AK Steel by 2.2% in the second quarter. Rhumbline Advisers now owns 790,942 shares of the basic materials company’s stock valued at $3,433,000 after purchasing an additional 16,667 shares during the last quarter. Institutional investors and hedge funds own 64.88% of the company’s stock.

About AK Steel

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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