Longbow Research cut shares of AK Steel Holding Corporation (NYSE:AKS) from a buy rating to a neutral rating in a research note released on Thursday, MarketBeat reports. Longbow Research currently has $6.24 target price on the basic materials company’s stock, up from their prior target price of $6.20.

A number of other equities research analysts also recently issued reports on the stock. ValuEngine downgraded shares of AK Steel Holding Corporation from a strong-buy rating to a buy rating in a research note on Thursday. Zacks Investment Research upgraded shares of AK Steel Holding Corporation from a sell rating to a hold rating in a research note on Thursday, July 20th. Deutsche Bank AG reiterated a buy rating and set a $10.00 price objective on shares of AK Steel Holding Corporation in a research note on Thursday, July 6th. Jefferies Group LLC reiterated a buy rating and set a $9.00 price objective on shares of AK Steel Holding Corporation in a research note on Wednesday, June 28th. Finally, Clarkson Capital upgraded shares of AK Steel Holding Corporation from a neutral rating to a buy rating and set a $8.00 price objective on the stock in a research note on Thursday, May 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. AK Steel Holding Corporation currently has a consensus rating of Hold and a consensus price target of $8.19.

AK Steel Holding Corporation (NYSE AKS) opened at 5.47 on Thursday. The company’s 50-day moving average is $6.32 and its 200 day moving average is $7.13. The company has a market capitalization of $1.72 billion, a P/E ratio of 14.32 and a beta of 2.88. AK Steel Holding Corporation has a one year low of $3.87 and a one year high of $11.39.

AK Steel Holding Corporation (NYSE:AKS) last announced its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.55 billion. AK Steel Holding Corporation had a net margin of 1.88% and a return on equity of 735.25%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.08 earnings per share. Analysts predict that AK Steel Holding Corporation will post $0.53 EPS for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Stifel Financial Corp acquired a new position in shares of AK Steel Holding Corporation during the first quarter worth about $110,000. Meadow Creek Investment Management LLC raised its position in shares of AK Steel Holding Corporation by 14.6% in the first quarter. Meadow Creek Investment Management LLC now owns 16,016 shares of the basic materials company’s stock worth $115,000 after buying an additional 2,044 shares during the period. Concert Wealth Management Inc. raised its position in shares of AK Steel Holding Corporation by 12.2% in the first quarter. Concert Wealth Management Inc. now owns 16,600 shares of the basic materials company’s stock worth $167,000 after buying an additional 1,800 shares during the period. Wedbush Securities Inc. acquired a new position in shares of AK Steel Holding Corporation during the first quarter worth about $128,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of AK Steel Holding Corporation during the first quarter worth about $135,000. Institutional investors and hedge funds own 77.55% of the company’s stock.

AK Steel Holding Corporation Company Profile

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.

Analyst Recommendations for AK Steel Holding Corporation (NYSE:AKS)

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