AK Steel (NYSE:AKS) Trading Down 5.5%

AK Steel Holding Co. (NYSE:AKS)’s stock price traded down 5.5% during trading on Thursday . The stock traded as low as $2.33 and last traded at $2.25, 318,595 shares were traded during trading. A decline of 97% from the average session volume of 10,836,199 shares. The stock had previously closed at $2.38.

AKS has been the topic of several analyst reports. Deutsche Bank set a $2.00 price target on shares of AK Steel and gave the stock a “hold” rating in a report on Thursday, May 30th. Credit Suisse Group cut shares of AK Steel from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $3.50 to $2.05 in a report on Thursday, May 23rd. Citigroup set a $3.00 price target on shares of AK Steel and gave the stock a “hold” rating in a report on Wednesday, July 31st. BMO Capital Markets set a $3.00 price target on shares of AK Steel and gave the stock a “hold” rating in a report on Wednesday, July 31st. Finally, Cowen reiterated a “market perform” rating and issued a $2.40 target price (up from $1.90) on shares of AK Steel in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $2.73.

The company has a debt-to-equity ratio of 4.54, a current ratio of 2.02 and a quick ratio of 0.76. The stock has a market capitalization of $756.17 million, a PE ratio of 3.50, a PEG ratio of 1.12 and a beta of 3.07. The stock’s 50 day simple moving average is $2.40 and its two-hundred day simple moving average is $2.52.

AK Steel (NYSE:AKS) last released its earnings results on Monday, July 29th. The basic materials company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.15. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.73 billion. AK Steel had a net margin of 2.40% and a return on equity of 57.52%. The company’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 earnings per share. As a group, equities research analysts predict that AK Steel Holding Co. will post 0.42 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can lifted its stake in shares of AK Steel by 170.4% during the 1st quarter. Bank of Montreal Can now owns 37,268 shares of the basic materials company’s stock valued at $103,000 after buying an additional 23,485 shares in the last quarter. Systematic Financial Management LP purchased a new stake in shares of AK Steel during the 1st quarter valued at approximately $1,154,000. Teza Capital Management LLC lifted its stake in shares of AK Steel by 59.7% during the 1st quarter. Teza Capital Management LLC now owns 222,343 shares of the basic materials company’s stock valued at $611,000 after buying an additional 83,079 shares in the last quarter. Norges Bank purchased a new stake in shares of AK Steel during the 4th quarter valued at approximately $2,751,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of AK Steel by 5.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,423,378 shares of the basic materials company’s stock valued at $16,703,000 after buying an additional 368,190 shares in the last quarter. Institutional investors own 60.63% 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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