AK Steel (AKS) Earns “Hold” Rating from Cowen
Other research analysts also recently issued research reports about the company. Jefferies Group reiterated a hold rating and set a $6.00 price target on shares of AK Steel in a research note on Tuesday, January 30th. Longbow Research reiterated a neutral rating on shares of AK Steel in a research note on Tuesday, October 3rd. Bank of America downgraded AK Steel from a buy rating to an underperform rating and cut their price target for the stock from $8.00 to $5.50 in a research note on Wednesday. Morgan Stanley cut their target price on AK Steel from $7.00 to $6.50 and set an equal weight rating for the company in a research note on Wednesday. Finally, upgraded AK Steel from a neutral rating to an outperform rating in a research note on Tuesday, November 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $6.88.
AK Steel (AKS) opened at $4.76 on Wednesday. The company has a debt-to-equity ratio of 15.72, a quick ratio of 0.75 and a current ratio of 1.83. The firm has a market capitalization of $1,500.00, a price-to-earnings ratio of 238.00, a PEG ratio of 1.88 and a beta of 2.87. AK Steel has a 12 month low of $4.00 and a 12 month high of $9.19.
Large investors have recently added to or reduced their stakes in the business. Archford Capital Strategies LLC raised its holdings in shares of AK Steel by 12,352.2% in the 2nd quarter. Archford Capital Strategies LLC now owns 14,320 shares of the basic materials company’s stock valued at $1,909,000 after acquiring an additional 14,205 shares in the last quarter. Riverhead Capital Management LLC raised its holdings in shares of AK Steel by 74.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 17,616 shares of the basic materials company’s stock valued at $116,000 after acquiring an additional 7,516 shares in the last quarter. Crow Point Partners LLC purchased a new stake in shares of AK Steel in the 4th quarter valued at about $110,000. MML Investors Services LLC purchased a new stake in shares of AK Steel in the 2nd quarter valued at about $141,000. Finally, Raymond James Financial Services Advisors Inc. raised its holdings 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 acquiring an additional 193 shares in the last quarter. 65.39% of the stock is currently owned by hedge funds and other institutional investors.
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About AK Steel
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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