AK Steel Holding Co. (AKS) Price Target Raised to $11.50 at Jefferies Group LLC
AK Steel Holding Co. (NYSE:AKS) had its price target lifted by Jefferies Group LLC from $9.00 to $11.50 in a research note issued on Wednesday. The firm presently has a “hold” rating on the basic materials company’s stock. Jefferies Group LLC’s price objective would indicate a potential upside of 68.62% from the stock’s previous close.
Several other analysts also recently issued reports on AKS. Morgan Stanley downgraded AK Steel Holding from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $8.39 to $11.00 in a research note on Monday, February 13th. Vetr raised AK Steel Holding from a “sell” rating to a “hold” rating and set a $8.49 price target on the stock in a research note on Tuesday, February 14th. Citigroup Inc downgraded AK Steel Holding from a “neutral” rating to a “sell” rating and set a $8.00 price target on the stock. in a research note on Thursday, January 19th. JPMorgan Chase & Co. downgraded AK Steel Holding from an “overweight” rating to a “neutral” rating and set a $8.00 price target on the stock. in a research note on Wednesday, January 25th. Finally, Zacks Investment Research raised AK Steel Holding from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Wednesday, January 4th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. AK Steel Holding presently has an average rating of “Hold” and a consensus target price of $8.22.
Shares of AK Steel Holding (NYSE:AKS) opened at 6.82 on Wednesday. The firm’s market capitalization is $2.15 billion. The stock’s 50 day moving average price is $7.40 and its 200-day moving average price is $7.96. 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 released its quarterly earnings results on Tuesday, January 24th. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.18. AK Steel Holding had a negative return on equity of 47.34% and a negative net margin of 0.13%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the business posted $0.30 EPS. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, equities research analysts predict that AK Steel Holding will post $0.68 EPS for the current fiscal year.
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Several hedge funds have recently added to or reduced their stakes in AKS. FMR LLC acquired a new position in AK Steel Holding during the fourth quarter worth approximately $49,391,000. JPMorgan Chase & Co. boosted its position in AK Steel Holding by 395.7% in the third quarter. JPMorgan Chase & Co. now owns 5,307,865 shares of the basic materials company’s stock worth $25,637,000 after buying an additional 4,237,133 shares during the last quarter. Teachers Advisors LLC boosted its position in AK Steel Holding by 172.4% in the fourth quarter. Teachers Advisors LLC now owns 4,963,762 shares of the basic materials company’s stock worth $50,680,000 after buying an additional 3,141,703 shares during the last quarter. Norges Bank acquired a new position in AK Steel Holding during the fourth quarter worth approximately $30,527,000. Finally, Rothschild Asset Management Inc. acquired a new position in AK Steel Holding during the third quarter worth approximately $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.
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