AK Steel (AKS) Rating Increased to Overweight at J P Morgan Chase & Co
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.
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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.
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