AK Steel Holding Corporation’s (AKS) “Market Perform” Rating Reaffirmed at Cowen and Company

Cowen and Company reissued their market perform rating on shares of AK Steel Holding Corporation (NYSE:AKS) in a research note issued to investors on Friday, May 12th. The brokerage currently has a $7.00 price target on the basic materials company’s stock.

A number of other research analysts also recently weighed in on the company. Barclays PLC cut their price target on AK Steel Holding Corporation from $9.00 to $8.00 and set an equal weight rating on the stock in a research note on Thursday, May 4th. Jefferies Group LLC reissued a buy rating and issued a $9.00 price target on shares of AK Steel Holding Corporation in a research note on Friday, April 28th. TheStreet raised AK Steel Holding Corporation from a d+ rating to a c rating in a research note on Tuesday, April 25th. Macquarie raised AK Steel Holding Corporation from a neutral rating to an outperform rating and increased their price target for the company from $7.30 to $8.10 in a research note on Monday, April 24th. Finally, Citigroup Inc. upgraded shares of AK Steel Holding Corporation from a sell rating to a neutral rating and lowered their price objective for the company from $8.00 to $7.00 in a research report on Wednesday, April 19th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $8.05.

Shares of AK Steel Holding Corporation (AKS) traded down 1.64% during mid-day trading on Friday, hitting $5.99. The stock had a trading volume of 17,378,472 shares. The company has a 50 day moving average price of $5.95 and a 200 day moving average price of $7.95. AK Steel Holding Corporation has a 12-month low of $3.87 and a 12-month high of $11.39. The firm has a market cap of $1.89 billion, a P/E ratio of 23.22 and a beta of 2.81.

AK Steel Holding Corporation (NYSE:AKS) last posted its quarterly earnings results on Tuesday, April 25th. The basic materials company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.04. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.49 billion. AK Steel Holding Corporation had a negative return on equity of 235.11% and a net margin of 1.16%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.08) EPS. Equities analysts forecast that AK Steel Holding Corporation will post $0.61 earnings per share for the current fiscal year.

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A number of large investors have recently modified their holdings of AKS. UBS Oconnor LLC increased its stake in shares of AK Steel Holding Corporation by 93.7% in the first quarter. UBS Oconnor LLC now owns 1,109,136 shares of the basic materials company’s stock valued at $7,975,000 after buying an additional 536,536 shares during the period. Piedmont Investment Advisors LLC bought a new stake in shares of AK Steel Holding Corporation during the first quarter valued at about $135,000. Teachers Retirement System of The State of Kentucky increased its stake in shares of AK Steel Holding Corporation by 2.0% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 102,300 shares of the basic materials company’s stock valued at $736,000 after buying an additional 2,000 shares during the period. City Financial Investment Co Ltd bought a new stake in shares of AK Steel Holding Corporation during the first quarter valued at about $2,876,000. Finally, Tyrus Capital S.A.M. bought a new stake in shares of AK Steel Holding Corporation during the first quarter valued at about $2,157,000. Institutional investors and hedge funds own 76.65% of the company’s stock.

About AK Steel Holding Corporation

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.

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