AK Steel Holding Co. (AKS) Cut to Buy at Vetr Inc.
Vetr cut shares of AK Steel Holding Co. (NYSE:AKS) from a strong-buy rating to a buy rating in a research report released on Wednesday morning. The brokerage currently has $8.95 price target on the stock.
Several other research firms have also recently commented on AKS. Credit Suisse Group AG cut shares of AK Steel Holding from an outperform rating to a neutral rating and raised their price target for the stock from $8.00 to $9.50 in a report on Thursday, January 12th. Zacks Investment Research upgraded shares of AK Steel Holding from a hold rating to a buy rating and set a $11.00 price target for the company in a report on Wednesday, January 4th. Jefferies Group LLC restated a buy rating and set a $13.00 price target (up from $7.50) on shares of AK Steel Holding in a report on Tuesday, December 13th. Citigroup Inc cut shares of AK Steel Holding from a neutral rating to a sell rating and set a $8.00 price target for the company. in a report on Thursday, January 19th. Finally, Deutsche Bank AG restated a hold rating on shares of AK Steel Holding in a report on Monday, December 5th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $8.21.
Shares of AK Steel Holding (NYSE:AKS) opened at 8.31 on Wednesday. The company’s 50-day moving average is $8.25 and its 200-day moving average is $7.54. The firm’s market capitalization is $2.62 billion. AK Steel Holding has a 12-month low of $3.31 and a 12-month high of $11.39.
AK Steel Holding (NYSE:AKS) last posted its quarterly earnings results on Tuesday, January 24th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.09 by $0.16. The business earned $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. AK Steel Holding had a negative net margin of 0.13% and a negative return on equity of 47.34%. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period last year, the company posted $0.30 earnings per share. On average, equities analysts forecast that AK Steel Holding will post $0.72 earnings per share for the current fiscal year.
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A number of institutional investors have recently made changes to their positions in the company. Hodges Capital Management Inc. bought a new position in shares of AK Steel Holding during the fourth quarter worth about $1,736,000. BlackRock Fund Advisors raised its position in shares of AK Steel Holding by 8.7% in the third quarter. BlackRock Fund Advisors now owns 16,604,292 shares of the company’s stock worth $80,199,000 after buying an additional 1,323,068 shares during the period. Victory Capital Management Inc. bought a new position in shares of AK Steel Holding during the third quarter worth about $19,565,000. Nicholas Investment Partners LP bought a new position in shares of AK Steel Holding during the fourth quarter worth about $3,295,000. Finally, Rothschild Asset Management Inc. bought a new position in shares of AK Steel Holding during the third quarter worth about $13,695,000. 62.21% of the stock is currently owned by institutional investors and hedge funds.
About AK Steel Holding
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.
To view Vetr’s full report, visit Vetr’s official website.
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