AK Steel Holding Co. (NYSE:AKS)’s share price traded up 5.2% during trading on Tuesday . The company traded as high as $2.65 and last traded at $2.63, 8,323,596 shares were traded during mid-day trading. A decline of 7% from the average session volume of 8,911,255 shares. The stock had previously closed at $2.50.
A number of analysts have recently commented on the company. Citigroup set a $3.00 price target on AK Steel and gave the company a “hold” rating in a report on Wednesday, July 31st. BMO Capital Markets set a $3.00 price target on AK Steel and gave the company a “hold” rating in a report on Wednesday, July 31st. Cowen restated a “market perform” rating and issued a $2.40 price target (up from $1.90) on shares of AK Steel in a report on Wednesday, July 31st. JPMorgan Chase & Co. lowered AK Steel from an “overweight” rating to an “underweight” rating in a report on Monday, September 23rd. Finally, ValuEngine upgraded AK Steel from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. AK Steel has an average rating of “Hold” and an average price target of $2.52.
The firm has a market cap of $802.05 million, a P/E ratio of 3.91, a price-to-earnings-growth ratio of 1.26 and a beta of 3.02. The company has a quick ratio of 0.76, a current ratio of 2.02 and a debt-to-equity ratio of 4.54. The firm has a fifty day moving average of $2.41 and a 200-day moving average of $2.34.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James Trust N.A. bought a new stake in AK Steel during the third quarter worth $41,000. Rhumbline Advisers lifted its stake in shares of AK Steel by 4.1% in the 3rd quarter. Rhumbline Advisers now owns 1,007,732 shares of the basic materials company’s stock valued at $2,288,000 after acquiring an additional 39,937 shares during the last quarter. 6 Meridian bought a new position in shares of AK Steel in the 3rd quarter valued at $222,000. NEXT Financial Group Inc lifted its stake in shares of AK Steel by 93.7% in the 3rd quarter. NEXT Financial Group Inc now owns 68,213 shares of the basic materials company’s stock valued at $155,000 after acquiring an additional 33,000 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of AK Steel in the 3rd quarter valued at $61,000. Institutional investors and hedge funds own 61.73% of the company’s stock.
About AK Steel (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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