Jefferies Group LLC reiterated their buy rating on shares of AK Steel Holding Corporation (NYSE:AKS) in a report released on Monday.

Several other brokerages also recently issued reports on AKS. Longbow Research raised shares of AK Steel Holding Corporation from a neutral rating to a buy rating in a report on Monday, June 19th. BMO Capital Markets set a $7.00 price target on shares of AK Steel Holding Corporation and gave the company a hold rating in a report on Sunday, July 30th. Zacks Investment Research downgraded shares of AK Steel Holding Corporation from a hold rating to a sell rating in a report on Tuesday, July 11th. Clarkson Capital raised shares of AK Steel Holding Corporation from a neutral rating to a buy rating and set a $8.00 price target on the stock in a report on Thursday, May 25th. Finally, Deutsche Bank AG raised shares of AK Steel Holding Corporation from a hold rating to a buy rating and set a $10.00 price objective on the stock in a research note on Friday, June 23rd. Ten analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $8.46.

Shares of AK Steel Holding Corporation (NYSE AKS) opened at 5.54 on Monday. The firm has a 50-day moving average of $5.49 and a 200-day moving average of $6.27. AK Steel Holding Corporation has a 12-month low of $4.38 and a 12-month high of $11.39. The firm has a market cap of $1.74 billion, a P/E ratio of 14.50 and a beta of 2.87.

AK Steel Holding Corporation (NYSE:AKS) last announced its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.06. AK Steel Holding Corporation had a net margin of 1.88% and a return on equity of 735.25%. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the firm earned $0.08 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities analysts forecast that AK Steel Holding Corporation will post $0.53 earnings per share for the current fiscal year.

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A number of hedge funds have recently modified their holdings of AKS. Russell Investments Group Ltd. increased its position in AK Steel Holding Corporation by 78.2% during the first quarter. Russell Investments Group Ltd. now owns 130,991 shares of the basic materials company’s stock worth $942,000 after purchasing an additional 57,482 shares during the last quarter. Great West Life Assurance Co. Can increased its position in AK Steel Holding Corporation by 13.6% during the first quarter. Great West Life Assurance Co. Can now owns 471,740 shares of the basic materials company’s stock worth $3,387,000 after purchasing an additional 56,434 shares during the last quarter. American Century Companies Inc. increased its position in AK Steel Holding Corporation by 38.1% during the first quarter. American Century Companies Inc. now owns 934,285 shares of the basic materials company’s stock worth $6,718,000 after purchasing an additional 257,561 shares during the last quarter. US Bancorp DE increased its position in AK Steel Holding Corporation by 3,628.0% during the first quarter. US Bancorp DE now owns 56,144 shares of the basic materials company’s stock worth $404,000 after purchasing an additional 54,638 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in AK Steel Holding Corporation by 5.1% during the first quarter. Bank of New York Mellon Corp now owns 4,191,130 shares of the basic materials company’s stock worth $30,135,000 after purchasing an additional 202,447 shares during the last quarter. 72.86% of the stock is owned by hedge funds and other institutional investors.

About AK Steel Holding Corporation

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.

Analyst Recommendations for AK Steel Holding Corporation (NYSE:AKS)

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