Analysts’ Weekly Ratings Changes for AK Steel Holding (AKS)
AK Steel Holding (NYSE: AKS) was the recipient of a ratings changes during the seven days:
- AK Steel Holding was downgraded by analysts at Credit Agricole from an “underperform” rating to a “sell” rating.
- AK Steel Holding was downgraded by analysts at JPMorgan Chase from an “overweight” rating to a “neutral” rating. They now have a $7.00 price target on the stock, down previously from $9.50. They wrote, “We rate AKS Neutral with a $7 December 2013 price target. Over time, we think AKS’ efforts to increase its raw material integration into iron ore and met coal will provide more stability to the company’s earnings, which have been squeezed by elevated raw material costs over the past several years. However, in the shorter-term, we think these investments and the company’s cash pension requirements will suppress the company’s cash flows, particularly in the environment of weaker steel prices that we are forecasting. Additionally, we think the benefits of the company’s iron ore and coal assets will be less apparent in a lower raw material cost environment.”
- AK Steel Holding was downgraded by analysts at CRT Capital from a “buy” rating to a “buy” rating. They now have a $7.00 price target on the stock.
- AK Steel Holding had its “hold” rating reaffirmed by analysts at Jefferies Group. They now have a $5.00 price target on the stock.
- AK Steel Holding had its “underperform” rating reaffirmed by analysts at Macquarie. They now have a $5.00 price target on the stock.
Shares of AK Steel Holding Co. opened at 5.25 on Monday. AK Steel Holding Co. has a one year low of $4.44 and a one year high of $10.33. The company’s market cap is $580.7 million.
AK Steel Holding Corporation (AK Holding) is an integrated producer of flat-rolled carbon, stainless and electrical steels and tubular products through its wholly owned subsidiary, AK Steel Corporation (AK Steel).