AK Steel (AKS) Upgraded to C- by TheStreet

TheStreet upgraded shares of AK Steel (NYSE:AKS) from a d+ rating to a c- rating in a research report report published on Thursday.

AKS has been the subject of several other research reports. Deutsche Bank lowered their target price on shares of AK Steel to $2.50 and set a hold rating for the company in a research note on Tuesday, February 5th. Bank of America lowered shares of AK Steel from a buy rating to an underperform rating and lowered their target price for the stock from $5.00 to $2.50 in a research note on Wednesday, January 30th. Zacks Investment Research raised shares of AK Steel from a hold rating to a buy rating and set a $3.25 target price for the company in a research note on Tuesday, February 12th. Cowen began coverage on shares of AK Steel in a research note on Tuesday, January 8th. They set a market perform rating and a $2.50 target price for the company. Finally, Clarkson Capital lowered shares of AK Steel from a buy rating to a neutral rating in a research note on Wednesday, January 16th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $3.76.

Shares of AKS stock opened at $3.16 on Thursday. The company has a quick ratio of 0.69, a current ratio of 1.95 and a debt-to-equity ratio of 4.64. The stock has a market cap of $999.54 million, a price-to-earnings ratio of 4.94, a P/E/G ratio of 1.15 and a beta of 2.73. AK Steel has a 1-year low of $2.05 and a 1-year high of $5.87.

AK Steel (NYSE:AKS) last announced its earnings results on Monday, January 28th. The basic materials company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.05. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.70 billion. AK Steel had a net margin of 2.73% and a return on equity of 54.01%. AK Steel’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.06) earnings per share. Equities research analysts anticipate that AK Steel will post 0.56 earnings per share for the current fiscal year.

In other AK Steel news, CEO Roger K. Newport purchased 10,000 shares of AK Steel stock in a transaction dated Tuesday, November 27th. The shares were acquired at an average price of $3.03 per share, with a total value of $30,300.00. Following the completion of the transaction, the chief executive officer now owns 461,297 shares of the company’s stock, valued at $1,397,729.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.13% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of AKS. JPMorgan Chase & Co. lifted its position in shares of AK Steel by 62.0% during the third quarter. JPMorgan Chase & Co. now owns 9,833,600 shares of the basic materials company’s stock worth $48,184,000 after purchasing an additional 3,763,963 shares in the last quarter. Teachers Advisors LLC lifted its position in shares of AK Steel by 374.7% during the third quarter. Teachers Advisors LLC now owns 2,908,497 shares of the basic materials company’s stock worth $14,252,000 after purchasing an additional 2,295,750 shares in the last quarter. BlueMountain Capital Management LLC lifted its position in shares of AK Steel by 212.9% during the third quarter. BlueMountain Capital Management LLC now owns 1,521,721 shares of the basic materials company’s stock worth $7,456,000 after purchasing an additional 1,035,371 shares in the last quarter. Ashler Capital LLC acquired a new stake in shares of AK Steel during the third quarter worth about $4,772,000. Finally, Congress Asset Management Co. MA acquired a new stake in shares of AK Steel during the third quarter worth about $4,319,000. 63.05% of the stock is currently owned by institutional investors and hedge funds.

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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