AK Steel (AKS) Earns Hold Rating from Cowen
AK Steel (NYSE:AKS)‘s stock had its “hold” rating reissued by analysts at Cowen in a report issued on Thursday. They currently have a $7.00 price objective on the basic materials company’s stock. Cowen’s price target would suggest a potential upside of 6.87% from the stock’s previous close.
AKS has been the subject of a number of other reports. Macquarie assumed coverage on AK Steel in a research note on Wednesday, September 6th. They set an “outperform” rating and a $7.00 price target for the company. Bank of America restated a “buy” rating and set a $9.00 price objective on shares of AK Steel in a report on Wednesday, September 6th. Credit Suisse Group upgraded AK Steel from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $6.00 to $7.00 in a report on Tuesday, November 21st. Jefferies Group restated a “buy” rating on shares of AK Steel in a report on Monday, September 18th. Finally, BMO Capital Markets reduced their price objective on AK Steel from $7.00 to $5.00 and set a “market perform” rating on the stock in a report on Wednesday, November 1st. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $7.72.
Shares of AK Steel (NYSE:AKS) traded up $0.21 during mid-day trading on Thursday, hitting $6.55. The company had a trading volume of 21,207,113 shares, compared to its average volume of 14,340,000. AK Steel has a 52-week low of $4.00 and a 52-week high of $11.28. 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 company has a market cap of $2,060.00, a price-to-earnings ratio of 43.67, a P/E/G ratio of 1.97 and a beta of 2.90.
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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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