Jefferies Group Lowers AK Steel Holding Corp. (AKS) Price Target to $4.50
AK Steel Holding Corp. (NYSE:AKS) had its price target trimmed by Jefferies Group from $5.50 to $4.50 in a research note issued to investors on Thursday. The firm currently has a hold rating on the stock.
Several other analysts have also recently issued reports on AKS. Credit Suisse Group AG upgraded AK Steel Holding Corp. from an underperform rating to an outperform rating and increased their target price for the stock from $3.50 to $7.00 in a research report on Wednesday, June 8th. Bank of America Corp. restated a sell rating on shares of AK Steel Holding Corp. in a report on Thursday, June 16th. Zacks Investment Research upgraded AK Steel Holding Corp. from a hold rating to a buy rating and set a $4.50 price target for the company in a report on Tuesday, June 28th. Deutsche Bank AG restated a sell rating on shares of AK Steel Holding Corp. in a report on Thursday, July 7th. Finally, Barclays PLC raised their price target on AK Steel Holding Corp. from $4.00 to $5.00 and gave the company an equal weight rating in a report on Tuesday, July 12th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. AK Steel Holding Corp. presently has an average rating of Hold and an average target price of $5.05.
AK Steel Holding Corp. (NYSE:AKS) opened at 4.30 on Thursday. The company’s market cap is $1.02 billion. AK Steel Holding Corp. has a one year low of $1.64 and a one year high of $7.09. The company’s 50 day moving average price is $4.86 and its 200-day moving average price is $4.63.
AK Steel Holding Corp. (NYSE:AKS) last released its earnings results on Tuesday, July 26th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.10. AK Steel Holding Corp. had a negative return on equity of 12.89% and a negative net margin of 2.18%. The firm earned $1.49 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the business posted ($0.36) earnings per share. The firm’s revenue was down 11.7% on a year-over-year basis. On average, analysts forecast that AK Steel Holding Corp. will post $0.32 EPS for the current fiscal year.
In other AK Steel Holding Corp. news, Director Vicente Wright sold 27,000 shares of the business’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $6.70, for a total transaction of $180,900.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.
A number of hedge funds have recently bought and sold shares of AKS. BlackRock Inc. increased its stake in AK Steel Holding Corp. by 61.5% in the first quarter. BlackRock Inc. now owns 24,495 shares of the company’s stock valued at $101,000 after buying an additional 9,327 shares during the last quarter. PineBridge Investments L.P. boosted its position in shares of AK Steel Holding Corp. by 41.7% in the second quarter. PineBridge Investments L.P. now owns 30,205 shares of the company’s stock valued at $141,000 after buying an additional 8,896 shares during the period. Raymond James & Associates boosted its position in shares of AK Steel Holding Corp. by 4.7% in the second quarter. Raymond James & Associates now owns 30,628 shares of the company’s stock valued at $143,000 after buying an additional 1,386 shares during the period. Quantbot Technologies LP bought a new position in shares of AK Steel Holding Corp. during the second quarter valued at about $148,000. Finally, Teacher Retirement System of Texas boosted its position in shares of AK Steel Holding Corp. by 47.0% in the second quarter. Teacher Retirement System of Texas now owns 31,744 shares of the company’s stock valued at $148,000 after buying an additional 10,149 shares during the period. Institutional investors and hedge funds own 68.71% of the company’s stock.
About AK Steel Holding Corp.
AK Steel Holding Corporation is an integrated producer of flat-rolled carbon, stainless and electrical steels and tubular products through its subsidiary, AK Steel Corporation (AK Steel). The Company operates approximately eight steelmaking and finishing plants, over two coke plants and approximately two tube manufacturing plants across states, which include Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia.
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