Shares of AK Steel Holding Co. (NYSE:AKS) were up 6% during trading on Thursday . The stock traded as high as $2.30 and last traded at $2.29, approximately 9,481,991 shares were traded during mid-day trading. An increase of 6% from the average daily volume of 8,964,341 shares. The stock had previously closed at $2.16.
Several analysts have commented on AKS shares. ValuEngine raised shares of AK Steel from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. BMO Capital Markets set a $3.00 price objective on shares of AK Steel and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Cowen reaffirmed a “market perform” rating and issued a $2.40 price objective (up previously from $1.90) on shares of AK Steel in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lowered shares of AK Steel from an “overweight” rating to an “underweight” rating in a research report on Monday, September 23rd. Finally, Citigroup set a $3.00 price target on shares of AK Steel and gave the company a “hold” rating in a research report on Wednesday, July 31st. Four 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. The company currently has an average rating of “Hold” and an average price target of $2.52.
The firm’s 50 day moving average is $2.33 and its 200 day moving average is $2.36. The company has a market cap of $790.98 million, a PE ratio of 3.91, a PEG ratio of 1.03 and a beta of 3.02. The company has a debt-to-equity ratio of 4.54, a current ratio of 2.02 and a quick ratio of 0.76.
AK Steel (NYSE:AKS) last issued its quarterly earnings data on Monday, July 29th. The basic materials company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.06 by $0.15. The company had revenue of $1.68 billion during 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%. AK Steel’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.18 earnings per share. As a group, analysts anticipate that AK Steel Holding Co. will post 0.42 EPS for the current year.
A number of large investors have recently modified their holdings of AKS. Naples Global Advisors LLC purchased a new position in AK Steel in the 2nd quarter worth approximately $25,000. Public Employees Retirement System of Ohio grew its stake in AK Steel by 27.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 30,376 shares of the basic materials company’s stock worth $72,000 after buying an additional 6,526 shares in the last quarter. Financial Advocates Investment Management grew its stake in AK Steel by 133.8% in the 2nd quarter. Financial Advocates Investment Management now owns 33,725 shares of the basic materials company’s stock worth $80,000 after buying an additional 19,300 shares in the last quarter. NEXT Financial Group Inc grew its stake in AK Steel by 18.4% in the 2nd quarter. NEXT Financial Group Inc now owns 35,213 shares of the basic materials company’s stock worth $83,000 after buying an additional 5,463 shares in the last quarter. Finally, Frontier Wealth Management LLC grew its stake in AK Steel by 261.9% in the 2nd quarter. Frontier Wealth Management LLC now owns 39,826 shares of the basic materials company’s stock worth $94,000 after buying an additional 28,821 shares in the last quarter. 61.62% of the stock is owned by institutional investors.
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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