AK Steel (NYSE:AKS) Trading 5.2% Higher

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.

AK Steel (NYSE:AKS) last released its earnings results on Monday, July 29th. The basic materials company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.15. AK Steel had a return on equity of 57.52% and a net margin of 2.40%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the company posted $0.18 earnings per share. AK Steel’s revenue was down 3.8% on a year-over-year basis. On average, equities analysts forecast that AK Steel Holding Co. will post 0.42 EPS for the current year.

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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