AK Steel Holding Earns Buy Rating from Bank of America (AKS)
AK Steel Holding (NYSE:AKS)‘s stock had its “buy” rating restated by analysts at Bank of America in a research report issued to clients and investors on Thursday. They currently have a $13.00 price objective on the stock, up from their previous price objective of $11.00. Bank of America’s price objective suggests a potential upside of 19.71% from the company’s current price.
AK Steel Holding (NYSE:AKS) opened at 10.86 on Thursday. AK Steel Holding has a one year low of $3.30 and a one year high of $11.37. The stock’s 50-day moving average is $9.32 and its 200-day moving average is $7.49. The company’s market cap is $1.486 billion.
AK Steel Holding (NYSE:AKS) last issued its quarterly earnings data on Tuesday, July 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by $0.09. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the company posted ($0.30) earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Analysts expect that AK Steel Holding will post $0.06 EPS for the current fiscal year.
A number of other firms have also recently commented on AKS. Analysts at Deutsche Bank reiterated a “hold” rating on shares of AK Steel Holding in a research note on Thursday, August 7th. They now have a $8.00 price target on the stock, up previously from $6.00. Separately, analysts at Jefferies Group raised their price target on shares of AK Steel Holding from $7.00 to $9.00 in a research note on Thursday, July 31st. They now have a “hold” rating on the stock. Finally, analysts at Macquarie reiterated an “outperform” rating on shares of AK Steel Holding in a research note on Wednesday, July 30th. They now have a $12.00 price target on the stock, up previously from $11.00. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. AK Steel Holding currently has a consensus rating of “Hold” and a consensus price target of $9.71.
AK Steel Holding Corporation (NYSE:AKS) 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 and, together with AK Holding, the Company).
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