AK Steel (AKS) Lowered to Buy at ValuEngine

AK Steel (NYSE:AKS) was downgraded by research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday, July 27th.

A number of other equities analysts have also commented on AKS. Citigroup upgraded shares of AK Steel from a “sell” rating to a “neutral” rating and cut their price target for the stock from $8.00 to $7.00 in a report on Wednesday, April 19th. Jefferies Group lifted their target price on shares of AK Steel from $9.00 to $11.50 and gave the stock a “hold” rating in a research note on Wednesday, April 19th. Macquarie raised shares of AK Steel from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $7.30 to $8.10 in a research note on Monday, April 24th. Cowen lowered their target price on shares of AK Steel from $9.00 to $7.00 and set a “market perform” rating for the company in a research note on Thursday, April 27th. Finally, TheStreet raised shares of AK Steel from a “d+” rating to a “c” rating in a research note on Tuesday, April 25th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. AK Steel has an average rating of “Hold” and a consensus target price of $6.65.

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Shares of NYSE:AKS traded down $0.02 during mid-day trading on Thursday, reaching $4.47. 7,977,809 shares of the company’s stock were exchanged, compared to its average volume of 13,215,688. The firm has a market cap of $1,415.62, a PE ratio of 14.42, a price-to-earnings-growth ratio of 1.42 and a beta of 2.89. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.69 and a current ratio of 1.83. AK Steel has a twelve month low of $4.00 and a twelve month high of $7.54.

AK Steel (NYSE:AKS) last issued its quarterly earnings results on Tuesday, January 30th. The basic materials company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.07. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.46 billion. AK Steel had a net margin of 0.16% and a return on equity of 71.24%. AK Steel’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 earnings per share. sell-side analysts forecast that AK Steel will post 0.63 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Amalgamated Bank increased its stake in AK Steel by 0.3% in the first quarter. Amalgamated Bank now owns 42,206 shares of the basic materials company’s stock valued at $303,000 after purchasing an additional 120 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of AK Steel by 0.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 21,887 shares of the basic materials company’s stock valued at $144,000 after buying an additional 193 shares during the last quarter. World Asset Management Inc grew its holdings in shares of AK Steel by 1.4% during the first quarter. World Asset Management Inc now owns 19,969 shares of the basic materials company’s stock valued at $144,000 after buying an additional 283 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of AK Steel by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 34,900 shares of the basic materials company’s stock valued at $250,000 after buying an additional 930 shares during the last quarter. Finally, Shikiar Asset Management Inc. grew its holdings in shares of AK Steel by 2.5% during the second quarter. Shikiar Asset Management Inc. now owns 62,500 shares of the basic materials company’s stock valued at $411,000 after buying an additional 1,500 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

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AK Steel Company Profile

AK Steel Holding Corporation, through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, stainless, and electrical steels, and tubular products in the United States and internationally. It produces flat-rolled carbon steel products, including coated, cold-rolled, and hot-rolled carbon steel products; grain-oriented specialty stainless and electrical steels; and carbon and stainless steel tubing products.

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Analyst Recommendations for AK Steel (NYSE:AKS)

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