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.

AK Steel (NYSE:AKS) last announced its earnings results on Monday, January 28th. The basic materials company reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.05. AK Steel had a net margin of 2.73% and a return on equity of 54.01%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the firm earned ($0.06) earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities analysts predict that AK Steel Holding Co. will post 0.46 earnings per share for the current fiscal year.

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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