AK Steel Holding Corporation (NYSE:AKS) was the target of a large decrease in short interest in September. As of September 29th, there was short interest totalling 59,593,590 shares, a decrease of 18.6% from the September 15th total of 73,249,148 shares. Based on an average daily trading volume, of 14,748,768 shares, the short-interest ratio is currently 4.0 days. Approximately 19.3% of the company’s stock are sold short.

A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of AK Steel Holding Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Jefferies Group LLC reiterated a “buy” rating and set a $9.00 price target on shares of AK Steel Holding Corporation in a research note on Wednesday, June 28th. Deutsche Bank AG upgraded shares of AK Steel Holding Corporation from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Friday, June 23rd. Longbow Research cut shares of AK Steel Holding Corporation from a “buy” rating to a “neutral” rating and increased their price target for the stock from $6.20 to $6.24 in a research note on Thursday, July 27th. Finally, ValuEngine cut shares of AK Steel Holding Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Ten investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. AK Steel Holding Corporation currently has an average rating of “Hold” and a consensus target price of $8.28.

AK Steel Holding Corporation (NYSE AKS) opened at 5.80 on Monday. AK Steel Holding Corporation has a 12 month low of $4.47 and a 12 month high of $11.39. The stock has a market cap of $1.83 billion, a P/E ratio of 15.18 and a beta of 2.91. The firm’s 50-day moving average is $5.61 and its 200-day moving average is $5.98.

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 during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the company posted $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 $0.50 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Archford Capital Strategies LLC raised its stake in shares of AK Steel Holding Corporation by 12,352.2% during the second quarter. Archford Capital Strategies LLC now owns 14,320 shares of the basic materials company’s stock valued at $1,909,000 after purchasing an additional 14,205 shares in the last quarter. Stifel Financial Corp bought a new stake in shares of AK Steel Holding Corporation during the first quarter valued at about $110,000. Riverhead Capital Management LLC raised its stake in shares of AK Steel Holding Corporation by 74.4% during the second quarter. Riverhead Capital Management LLC now owns 17,616 shares of the basic materials company’s stock valued at $116,000 after purchasing an additional 7,516 shares in the last quarter. Alps Advisors Inc. raised its stake in shares of AK Steel Holding Corporation by 35.0% during the second quarter. Alps Advisors Inc. now owns 17,639 shares of the basic materials company’s stock valued at $116,000 after purchasing an additional 4,573 shares in the last quarter. Finally, Piedmont Investment Advisors LLC bought a new stake in shares of AK Steel Holding Corporation during the first quarter valued at about $135,000. Institutional investors and hedge funds own 73.06% of the company’s stock.

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AK Steel Holding Corporation Company Profile

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.

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