Jefferies Group lowered shares of AK Steel (NYSE:AKS) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. Jefferies Group currently has $6.50 price objective on the basic materials company’s stock, down from their prior price objective of $6.64. Jefferies Group also issued estimates for AK Steel’s Q4 2017 earnings at ($0.19) EPS, FY2017 earnings at $0.22 EPS, FY2018 earnings at $0.62 EPS and FY2019 earnings at $0.63 EPS.
Several other research analysts have also recently issued reports on AKS. Cowen reissued a hold rating and issued a $7.00 target price on shares of AK Steel in a research report on Thursday, January 4th. BMO Capital Markets dropped their target price on AK Steel from $7.00 to $5.00 and set a market perform rating on the stock in a research report on Wednesday, November 1st. Clarkson Capital cut AK Steel from a buy rating to a neutral rating in a research report on Wednesday, November 1st. KeyCorp reaffirmed a hold rating on shares of AK Steel in a research report on Tuesday, September 19th. Finally, Longbow Research reaffirmed a neutral rating on shares of AK Steel in a research report on Tuesday, October 3rd. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $7.54.
Shares of AK Steel (AKS) traded down $0.24 during trading hours on Tuesday, reaching $6.19. The company’s stock had a trading volume of 22,100,000 shares, compared to its average volume of 16,070,000. The stock has a market capitalization of $1,950.00, a PE ratio of 41.27, a price-to-earnings-growth ratio of 1.60 and a beta of 2.90. The company has a debt-to-equity ratio of 11.89, a current ratio of 1.92 and a quick ratio of 0.75. AK Steel has a fifty-two week low of $4.00 and a fifty-two week high of $10.78.
Hedge funds have recently bought and sold shares of the company. New Jersey Better Educational Savings Trust purchased a new position in shares of AK Steel during the 3rd quarter valued at about $1,118,000. Northern Trust Corp raised its stake in AK Steel by 3.6% during the 2nd quarter. Northern Trust Corp now owns 3,829,715 shares of the basic materials company’s stock valued at $25,160,000 after purchasing an additional 132,062 shares during the period. Stevens Capital Management LP bought a new stake in AK Steel during the 3rd quarter valued at approximately $488,000. BW Gestao de Investimentos Ltda. bought a new stake in AK Steel during the 2nd quarter valued at approximately $9,855,000. Finally, Benefit Street Partners LLC bought a new stake in AK Steel during the 2nd quarter valued at approximately $4,008,000. 65.25% of the stock is currently owned by hedge funds and other institutional investors.
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About AK Steel
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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