AK Steel Holding Co. (NYSE:AKS)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $2.70, but opened at $2.76. AK Steel shares last traded at $2.89, with a volume of 10,355,933 shares.
Several research analysts have recently issued reports on the stock. ValuEngine upgraded shares of AK Steel from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. downgraded shares of AK Steel from an “overweight” rating to an “underweight” rating in a report on Monday, September 23rd. Exane BNP Paribas assumed coverage on shares of AK Steel in a report on Thursday, November 14th. They set an “underperform” rating and a $2.00 price target for the company. Finally, UBS Group reiterated a “sell” rating and set a $2.00 price target (down from $2.25) on shares of AK Steel in a report on Thursday, November 14th. Six investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $2.44.
The firm has a market capitalization of $901.80 million, a price-to-earnings ratio of 4.52, a P/E/G ratio of 1.54 and a beta of 3.14. The stock has a fifty day moving average of $2.60 and a two-hundred day moving average of $2.37. The company has a debt-to-equity ratio of 4.77, a current ratio of 2.06 and a quick ratio of 0.70.
AK Steel (NYSE:AKS) last posted its quarterly earnings data on Wednesday, October 30th. The basic materials company reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.03). The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.64 billion. AK Steel had a net margin of 1.50% and a return on equity of 42.48%. The business’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.21 earnings per share. On average, research analysts forecast that AK Steel Holding Co. will post 0.36 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in AK Steel by 1.2% in the second quarter. BlackRock Inc. now owns 46,654,485 shares of the basic materials company’s stock valued at $110,570,000 after purchasing an additional 567,604 shares during the period. Merriman Wealth Management LLC increased its holdings in AK Steel by 5.0% in the second quarter. Merriman Wealth Management LLC now owns 4,208,800 shares of the basic materials company’s stock valued at $9,975,000 after purchasing an additional 200,000 shares during the period. Bank of New York Mellon Corp increased its holdings in AK Steel by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 3,987,933 shares of the basic materials company’s stock valued at $9,452,000 after purchasing an additional 39,944 shares during the period. Northern Trust Corp increased its holdings in AK Steel by 4.0% in the second quarter. Northern Trust Corp now owns 3,966,860 shares of the basic materials company’s stock valued at $9,401,000 after purchasing an additional 150,846 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in AK Steel by 12.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,484,151 shares of the basic materials company’s stock valued at $8,258,000 after acquiring an additional 394,546 shares during the last quarter. Institutional investors and hedge funds own 59.33% of the company’s stock.
About AK Steel (NYSE:AKS)
AK Steel Holding Corporation, through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, and stainless and electrical steel 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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