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.
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.
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.
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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