A number of other equities analysts also recently commented on AKS. ValuEngine downgraded AK Steel from a hold rating to a sell rating in a report on Monday, July 2nd. Cowen cut their price objective on AK Steel from $5.00 to $4.50 and set a market perform rating on the stock in a report on Tuesday, May 1st. BMO Capital Markets lowered their target price on AK Steel from $7.00 to $5.00 and set a market perform rating for the company in a research note on Tuesday, May 1st. Credit Suisse Group reiterated an outperform rating and issued a $6.00 target price (down previously from $6.50) on shares of AK Steel in a research note on Tuesday, May 1st. Finally, Zacks Investment Research upgraded AK Steel from a hold rating to a buy rating and set a $5.00 target price for the company in a research note on Tuesday, July 17th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $5.44.
AK Steel stock opened at $4.35 on Tuesday. The stock has a market capitalization of $1.39 billion, a PE ratio of 14.03, a PEG ratio of 1.23 and a beta of 2.84. The company has a current ratio of 2.01, a quick ratio of 0.76 and a debt-to-equity ratio of 5.49. AK Steel has a 12 month low of $4.00 and a 12 month high of $6.80.
AK Steel (NYSE:AKS) last released its quarterly earnings data on Monday, July 30th. The basic materials company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. AK Steel had a positive return on equity of 33.56% and a negative net margin of 0.44%. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.19 earnings per share. equities analysts forecast that AK Steel will post 0.72 earnings per share for the current fiscal year.
In related news, CEO Roger K. Newport bought 10,000 shares of the stock in a transaction dated Wednesday, August 15th. The stock was acquired at an average price of $4.03 per share, for a total transaction of $40,300.00. Following the completion of the purchase, the chief executive officer now owns 451,297 shares in the company, valued at $1,818,726.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.13% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of AKS. BlackRock Inc. grew its stake in AK Steel by 5.8% during the 2nd quarter. BlackRock Inc. now owns 45,024,836 shares of the basic materials company’s stock valued at $195,407,000 after purchasing an additional 2,453,702 shares in the last quarter. Polar Asset Management Partners Inc. acquired a new stake in AK Steel during the 1st quarter valued at approximately $6,771,000. KBC Group NV acquired a new stake in AK Steel during the 1st quarter valued at approximately $3,536,000. JPMorgan Chase & Co. grew its stake in AK Steel by 16.9% during the 1st quarter. JPMorgan Chase & Co. now owns 4,789,705 shares of the basic materials company’s stock valued at $21,698,000 after purchasing an additional 691,938 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in AK Steel by 11.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,897,010 shares of the basic materials company’s stock valued at $31,243,000 after purchasing an additional 680,933 shares in the last quarter. Institutional investors and hedge funds own 64.98% of the company’s stock.
About AK Steel
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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