Cowen and Company Reiterates “Market Perform” Rating for AK Steel Holding Co. (AKS)

Cowen and Company reiterated their market perform rating on shares of AK Steel Holding Co. (NYSE:AKS) in a research report sent to investors on Friday morning. They currently have a $7.00 target price on the basic materials company’s stock.

Several other research firms have also recently weighed in on AKS. Credit Suisse Group AG cut AK Steel Holding from an outperform rating to a neutral rating and increased their price target for the company from $8.00 to $9.50 in a report on Thursday, January 12th. Citigroup Inc cut AK Steel Holding from a neutral rating to a sell rating and set a $8.00 price target on the stock. in a report on Thursday, January 19th. Vetr raised AK Steel Holding from a buy rating to a strong-buy rating and set a $10.52 price target on the stock in a report on Monday, January 23rd. JPMorgan Chase & Co. cut AK Steel Holding from an overweight rating to a neutral rating and set a $8.00 price target on the stock. in a report on Wednesday, January 25th. Finally, Jefferies Group LLC reissued a buy rating and set a $11.50 price target on shares of AK Steel Holding in a report on Wednesday, January 25th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $8.05.

Shares of AK Steel Holding (NYSE:AKS) opened at 5.47 on Friday. The firm has a 50 day moving average price of $6.44 and a 200 day moving average price of $8.15. AK Steel Holding has a 52 week low of $3.31 and a 52 week high of $11.39. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 21.20 and a beta of 2.60.

AK Steel Holding (NYSE:AKS) last released its quarterly earnings results on Tuesday, April 25th. The basic materials company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.04. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.49 billion. AK Steel Holding had a negative return on equity of 47.34% and a negative net margin of 0.13%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) EPS. Equities analysts forecast that AK Steel Holding will post $0.66 EPS for the current year.

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Large investors have recently bought and sold shares of the stock. Alambic Investment Management L.P. boosted its stake in AK Steel Holding by 41.7% in the third quarter. Alambic Investment Management L.P. now owns 187,900 shares of the basic materials company’s stock worth $908,000 after buying an additional 55,300 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in AK Steel Holding by 18.2% in the third quarter. UBS Asset Management Americas Inc. now owns 179,577 shares of the basic materials company’s stock worth $868,000 after buying an additional 27,713 shares in the last quarter. BlackRock Advisors LLC boosted its stake in AK Steel Holding by 564.5% in the third quarter. BlackRock Advisors LLC now owns 701,784 shares of the basic materials company’s stock worth $3,390,000 after buying an additional 596,171 shares in the last quarter. BlackRock Investment Management LLC boosted its stake in AK Steel Holding by 0.8% in the third quarter. BlackRock Investment Management LLC now owns 1,084,124 shares of the basic materials company’s stock worth $5,236,000 after buying an additional 8,101 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in AK Steel Holding by 2.3% in the third quarter. BlackRock Inc. now owns 81,014 shares of the basic materials company’s stock worth $392,000 after buying an additional 1,794 shares in the last quarter. 62.21% of the stock is currently owned by institutional investors and hedge funds.

About AK Steel Holding

AK Steel Holding Corporation is a producer of flat-rolled carbon, stainless and electrical steels, and tubular products through its subsidiary, AK Steel Corporation (AK Steel). The Company also operates blast furnaces and electric arc furnaces. As of December 31, 2016, its operations included eight steelmaking and finishing plants, two coke plants and two tube manufacturing plants across states, including Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia, and a tube manufacturing plant in Mexico.

5 Day Chart for NYSE:AKS

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