AK Steel (NYSE:AKS) was upgraded by equities researchers at J P Morgan Chase & Co from a “neutral” rating to an “overweight” rating in a note issued to investors on Thursday, MarketBeat reports. The brokerage currently has a $7.00 price objective on the basic materials company’s stock, up from their previous price objective of $6.00. J P Morgan Chase & Co’s price objective would indicate a potential upside of 35.14% from the company’s previous close.

Several other equities research analysts also recently weighed in on AKS. Barclays reaffirmed an “equal weight” rating and issued a $7.00 target price (down previously from $8.00) on shares of AK Steel in a research report on Wednesday, August 9th. ValuEngine raised AK Steel from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 22nd. BMO Capital Markets decreased their target price on AK Steel from $7.00 to $5.00 and set a “market perform” rating for the company in a research report on Wednesday, November 1st. Clarkson Capital downgraded AK Steel from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 1st. Finally, KeyCorp reaffirmed a “hold” rating on shares of AK Steel in a research report on Tuesday, September 19th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $7.46.

Shares of AK Steel (NYSE AKS) traded up $0.15 during midday trading on Thursday, hitting $5.18. The stock had a trading volume of 26,032,803 shares, compared to its average volume of 18,750,996. AK Steel has a 52 week low of $4.00 and a 52 week high of $11.39. The company has a debt-to-equity ratio of 11.89, a current ratio of 1.92 and a quick ratio of 0.75. The stock has a market capitalization of $1,630.00, a P/E ratio of 7.42, a price-to-earnings-growth ratio of 3.88 and a beta of 2.89.

Several large investors have recently added to or reduced their stakes in AKS. Aperio Group LLC lifted its stake in shares of AK Steel by 19.1% in the second quarter. Aperio Group LLC now owns 106,889 shares of the basic materials company’s stock worth $702,000 after acquiring an additional 17,165 shares in the last quarter. US Bancorp DE lifted its stake in shares of AK Steel by 4.9% in the second quarter. US Bancorp DE now owns 58,907 shares of the basic materials company’s stock worth $387,000 after acquiring an additional 2,763 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in AK Steel by 3.9% during the second quarter. Municipal Employees Retirement System of Michigan now owns 74,320 shares of the basic materials company’s stock valued at $488,000 after buying an additional 2,800 shares in the last quarter. World Asset Management Inc raised its stake in AK Steel by 2.5% during the second quarter. World Asset Management Inc now owns 20,471 shares of the basic materials company’s stock valued at $134,000 after buying an additional 502 shares in the last quarter. Finally, Texas Permanent School Fund raised its stake in AK Steel by 0.8% during the second quarter. Texas Permanent School Fund now owns 229,829 shares of the basic materials company’s stock valued at $1,510,000 after buying an additional 1,920 shares in the last quarter. Institutional investors and hedge funds own 65.14% of the company’s stock.

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AK Steel 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.

Analyst Recommendations for AK Steel (NYSE:AKS)

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