A number of other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. raised AK Steel from an underweight rating to a neutral rating in a research report on Wednesday. Exane BNP Paribas initiated coverage on AK Steel in a research note on Thursday, November 14th. They issued an underperform rating and a $2.00 target price on the stock. Finally, UBS Group reiterated a sell rating and issued a $2.00 target price (down from $2.25) on shares of AK Steel in a report on Thursday, November 14th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $2.44.
Shares of NYSE:AKS opened at $3.23 on Friday. The firm has a 50 day moving average of $2.66 and a 200 day moving average of $2.38. The company has a quick ratio of 0.70, a current ratio of 2.06 and a debt-to-equity ratio of 4.77. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 5.20, a price-to-earnings-growth ratio of 1.77 and a beta of 3.14. AK Steel has a 52 week low of $1.66 and a 52 week high of $3.32.
Institutional investors have recently bought and sold shares of the company. Sunbelt Securities Inc. purchased a new position in AK Steel during the 3rd quarter worth $27,000. Raymond James Trust N.A. acquired a new position in AK Steel during the 3rd quarter valued at about $41,000. Meeder Asset Management Inc. purchased a new stake in AK Steel in the third quarter valued at about $61,000. Public Employees Retirement System of Ohio raised its stake in AK Steel by 27.4% in the second quarter. Public Employees Retirement System of Ohio now owns 30,376 shares of the basic materials company’s stock valued at $72,000 after buying an additional 6,526 shares during the last quarter. Finally, Financial Advocates Investment Management boosted its holdings in AK Steel by 133.8% in the second quarter. Financial Advocates Investment Management now owns 33,725 shares of the basic materials company’s stock worth $80,000 after acquiring an additional 19,300 shares in the last quarter. 59.33% of the stock is owned by hedge funds and other institutional investors.
AK Steel Company Profile
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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