Equities research analysts at Macquarie initiated coverage on shares of AK Steel Holding Corporation (NYSE:AKS) in a report issued on Wednesday, MarketBeat reports. The brokerage set an “outperform” rating and a $7.00 price target on the basic materials company’s stock. Macquarie’s price objective would indicate a potential upside of 19.25% from the company’s previous close.

AKS has been the subject of a number of other research reports. Deutsche Bank AG reissued a “buy” rating and set a $10.00 target price on shares of AK Steel Holding Corporation in a research report on Thursday, July 6th. Bank of America Corporation reissued a “buy” rating and set a $9.00 target price on shares of AK Steel Holding Corporation in a research report on Wednesday. Cowen and Company reissued a “market perform” rating and set a $7.00 target price on shares of AK Steel Holding Corporation in a research report on Friday, May 12th. Barclays PLC reissued an “equal weight” rating and set a $7.00 target price (down previously from $8.00) on shares of AK Steel Holding Corporation in a research report on Wednesday, August 9th. Finally, ValuEngine raised shares of AK Steel Holding Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 22nd. Nine investment 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 stock. AK Steel Holding Corporation has an average rating of “Buy” and a consensus price target of $8.46.

Shares of AK Steel Holding Corporation (NYSE AKS) traded down 1.84% during trading on Wednesday, hitting $5.87. 13,242,293 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $5.57 and a 200-day moving average price of $6.44. The stock has a market cap of $1.85 billion, a P/E ratio of 15.37 and a beta of 2.87. AK Steel Holding Corporation has a one year low of $3.87 and a one year high of $11.39.

AK Steel Holding Corporation (NYSE:AKS) last posted its earnings results on Tuesday, July 25th. The basic materials company reported $0.19 EPS for the quarter, beating the Zacks’ 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 analysts’ expectations of $1.55 billion. During the same quarter in the prior year, the company posted $0.08 earnings per share. AK Steel Holding Corporation’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities research analysts expect that AK Steel Holding Corporation will post $0.52 EPS for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in AKS. Macquarie Group Ltd. acquired a new stake in shares of AK Steel Holding Corporation in the fourth quarter worth $247,000. Glen Harbor Capital Management LLC grew its position in AK Steel Holding Corporation by 14.6% during the first quarter. Glen Harbor Capital Management LLC now owns 19,448 shares of the basic materials company’s stock valued at $140,000 after buying an additional 2,482 shares during the period. Janney Montgomery Scott LLC grew its position in AK Steel Holding Corporation by 15.2% during the first quarter. Janney Montgomery Scott LLC now owns 100,221 shares of the basic materials company’s stock valued at $721,000 after buying an additional 13,237 shares during the period. Russell Investments Group Ltd. grew 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 valued at $942,000 after buying an additional 57,482 shares during the period. Finally, Great West Life Assurance Co. Can grew 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 valued at $3,387,000 after buying an additional 56,434 shares during the period. 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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