AK Steel Holding Corporation (NYSE:AKS)‘s stock had its “buy” rating reissued by analysts at Bank of America Corporation in a research note issued on Wednesday. They currently have a $9.00 price objective on the basic materials company’s stock. Bank of America Corporation’s price objective indicates a potential upside of 53.32% from the company’s previous close.

A number of other equities analysts also recently issued reports on AKS. Barclays PLC restated an “equal weight” rating and set a $7.00 price objective (down from $8.00) on shares of AK Steel Holding Corporation in a research report on Wednesday, August 9th. Clarkson Capital upgraded AK Steel Holding Corporation from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 26th. ValuEngine upgraded AK Steel Holding Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 22nd. BMO Capital Markets set a $7.00 target price on AK Steel Holding Corporation and gave the stock a “hold” rating in a report on Sunday, July 30th. Finally, Longbow Research downgraded AK Steel Holding Corporation from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $6.20 to $6.24 in a report on Thursday, July 27th. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. AK Steel Holding Corporation has a consensus rating of “Buy” and an average price target of $8.46.

Shares of AK Steel Holding Corporation (NYSE AKS) traded down 1.84% during trading on Wednesday, hitting $5.87. The company had a trading volume of 13,242,293 shares. The stock has a 50-day moving average of $5.57 and a 200 day moving average of $6.44. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 15.37 and a beta of 2.87. AK Steel Holding Corporation has a 12-month low of $3.87 and a 12-month high of $11.39.

AK Steel Holding Corporation (NYSE:AKS) last issued its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.06. AK Steel Holding Corporation had a return on equity of 735.25% and a net margin of 1.88%. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period last year, the company earned $0.08 earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year. On average, analysts predict that AK Steel Holding Corporation will post $0.52 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stifel Financial Corp bought a new stake in shares of AK Steel Holding Corporation during the first quarter valued at approximately $110,000. Meadow Creek Investment Management LLC increased its holdings in shares of AK Steel Holding Corporation by 14.6% during the first quarter. Meadow Creek Investment Management LLC now owns 16,016 shares of the basic materials company’s stock valued at $115,000 after acquiring an additional 2,044 shares in the last quarter. Alps Advisors Inc. increased its holdings 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 acquiring an additional 4,573 shares in the last quarter. Riverhead Capital Management LLC increased its holdings 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 acquiring an additional 7,516 shares in the last quarter. Finally, Wedbush Securities Inc. bought a new stake in shares of AK Steel Holding Corporation during the first quarter valued at approximately $128,000. Hedge funds and other institutional investors own 72.86% of the company’s stock.

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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