Longbow Research Lowers AK Steel (AKS) to Neutral

AK Steel (NYSE:AKS) was downgraded by equities research analysts at Longbow Research from a “buy” rating to a “neutral” rating in a research report issued on Thursday, July 27th, MarketBeat reports. They currently have a $6.24 target price on the basic materials company’s stock, up from their prior target price of $6.20. Longbow Research’s price objective would suggest a potential upside of 39.60% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Clarkson Capital raised shares of AK Steel from a “neutral” rating to a “buy” rating and set a $8.00 price objective on the stock in a research report on Thursday, May 25th. Zacks Investment Research raised shares of AK Steel from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. Deutsche Bank reissued a “buy” rating and set a $10.00 price objective on shares of AK Steel in a research report on Thursday, July 6th. ValuEngine cut shares of AK Steel from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Finally, Jefferies Group reissued a “buy” rating and set a $9.00 price objective on shares of AK Steel in a research report on Wednesday, June 28th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $6.65.

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Shares of AKS stock traded down $0.02 on Thursday, reaching $4.47. 7,977,809 shares of the company were exchanged, compared to its average volume of 13,215,688. The stock has a market capitalization 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 current ratio of 1.83 and a quick ratio of 0.69. AK Steel has a one year low of $4.00 and a one year high of $7.54.

AK Steel (NYSE:AKS) last released its quarterly earnings data on Tuesday, January 30th. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.07. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.46 billion. AK Steel had a net margin of 0.16% and a return on equity of 71.24%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 EPS. analysts anticipate that AK Steel will post 0.63 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the business. First Trust Advisors LP increased its stake in AK Steel by 56.9% in the 2nd quarter. First Trust Advisors LP now owns 377,889 shares of the basic materials company’s stock valued at $2,483,000 after buying an additional 137,078 shares during the last quarter. Masters Capital Management LLC bought a new position in shares of AK Steel during the 4th quarter valued at approximately $5,660,000. New Jersey Better Educational Savings Trust bought a new position in shares of AK Steel during the 3rd quarter valued at approximately $1,118,000. Northern Trust Corp grew its position in shares of AK Steel by 3.6% during the 2nd quarter. Northern Trust Corp now owns 3,829,715 shares of the basic materials company’s stock valued at $25,160,000 after acquiring an additional 132,062 shares during the period. Finally, Cornerstone Financial Partners LLC bought a new position in shares of AK Steel during the 2nd quarter valued at approximately $154,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

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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.

Analyst Recommendations for AK Steel (NYSE:AKS)

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