AK Steel Holding Corp. (AKS) PT Set at $8.00 by Credit Suisse Group AG
AK Steel Holding Corp. (NYSE:AKS) has been given a $8.00 target price by research analysts at Credit Suisse Group AG in a research note issued to investors on Saturday. The brokerage presently has a a “buy” rating on the stock. Credit Suisse Group AG’s price target would suggest a potential upside of 70.94% from the stock’s previous close.
Several other analysts also recently weighed in on the stock. Deutsche Bank AG raised shares of AK Steel Holding Corp. from a “sell” rating to a “hold” rating and boosted their target price for the stock from $1.64 to $4.83 in a research report on Monday, October 3rd. Jefferies Group reissued a “hold” rating on shares of AK Steel Holding Corp. in a research report on Saturday, October 1st. TheStreet downgraded shares of AK Steel Holding Corp. from a “hold” rating to a “sell” rating in a research report on Monday, August 29th. Vetr raised shares of AK Steel Holding Corp. from a “hold” rating to a “strong-buy” rating and set a $5.78 target price on the stock in a research report on Wednesday, August 24th. Finally, Rosenblatt Securities assumed coverage on shares of AK Steel Holding Corp. in a research report on Monday, August 22nd. They set a “buy” rating and a $6.00 target price on the stock. Three analysts have rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $5.30.
Shares of AK Steel Holding Corp. (NYSE:AKS) traded up 1.52% during mid-day trading on Friday, hitting $4.68. 19,168,595 shares of the stock were exchanged. The company’s market cap is $1.11 billion. AK Steel Holding Corp. has a 52-week low of $1.64 and a 52-week high of $7.09. The stock’s 50-day moving average price is $4.57 and its 200-day moving average price is $4.70.
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AK Steel Holding Corp. (NYSE:AKS) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.10. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.53 billion. AK Steel Holding Corp. had a negative net margin of 2.18% and a negative return on equity of 12.89%. The company’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.36) EPS. Equities research analysts anticipate that AK Steel Holding Corp. will post $0.32 earnings per share for the current fiscal year.
In other AK Steel Holding Corp. news, Director Vicente Wright sold 27,000 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $6.70, for a total transaction of $180,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.80% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Creative Planning boosted its position in AK Steel Holding Corp. by 612.1% in the fourth quarter. Creative Planning now owns 2,079,472 shares of the company’s stock worth $4,658,000 after buying an additional 1,787,437 shares in the last quarter. California State Teachers Retirement System raised its stake in AK Steel Holding Corp. by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 329,507 shares of the company’s stock worth $738,000 after buying an additional 5,833 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in AK Steel Holding Corp. by 47.4% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 1,722,992 shares of the company’s stock worth $3,860,000 after buying an additional 553,780 shares during the last quarter. Principal Financial Group Inc. raised its stake in AK Steel Holding Corp. by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 1,202,650 shares of the company’s stock worth $2,694,000 after buying an additional 52,641 shares during the last quarter. Finally, Royce & Associates LLC raised its stake in AK Steel Holding Corp. by 2.7% in the fourth quarter. Royce & Associates LLC now owns 1,735,609 shares of the company’s stock worth $3,888,000 after buying an additional 45,000 shares during the last quarter. Institutional investors 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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