AK Steel (AKS) Shares Gap Up to $2.63
AK Steel Holding Co. (NYSE:AKS)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $2.56, but opened at $2.63. AK Steel shares last traded at $2.71, with a volume of 7584319 shares.
A number of research firms recently issued reports on AKS. Deutsche Bank decreased their price target on shares of AK Steel to $2.50 and set a “hold” rating for the company in a research note on Tuesday, February 5th. TheStreet raised shares of AK Steel from a “d+” rating to a “c-” rating in a research note on Thursday, February 21st. Zacks Investment Research downgraded shares of AK Steel from a “buy” rating to a “hold” rating in a research note on Thursday, February 14th. Bank of America downgraded shares of AK Steel from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $5.00 to $2.50 in a research note on Wednesday, January 30th. Finally, Longbow Research downgraded shares of AK Steel from a “buy” rating to a “neutral” rating and set a $2.77 price target for the company. in a research note on Wednesday, January 30th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $3.55.
The company has a market cap of $858.78 million, a price-to-earnings ratio of 4.23, a P/E/G ratio of 1.14 and a beta of 2.85. The company has a current ratio of 1.95, a quick ratio of 0.69 and a debt-to-equity ratio of 4.64.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Stratos Wealth Partners LTD. purchased a new stake in shares of AK Steel during the fourth quarter valued at approximately $25,000. Claybrook Capital LLC purchased a new stake in shares of AK Steel during the fourth quarter valued at approximately $38,000. Magnus Financial Group LLC purchased a new stake in shares of AK Steel during the fourth quarter valued at approximately $40,000. Blueshift Asset Management LLC purchased a new stake in shares of AK Steel during the fourth quarter valued at approximately $45,000. Finally, Shoker Investment Counsel Inc. grew its holdings in shares of AK Steel by 42.6% during the fourth quarter. Shoker Investment Counsel Inc. now owns 25,360 shares of the basic materials company’s stock valued at $57,000 after buying an additional 7,580 shares during the last quarter. 62.67% of the stock is owned by institutional investors and hedge funds.
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AK Steel Company Profile (NYSE:AKS)
AK Steel Holding Corporation, through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, and stainless and electrical steel 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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