Shares of AK Steel Holding Co. (NYSE:AKS) rose 6% during mid-day trading on Tuesday . The company traded as high as $2.36 and last traded at $2.30, approximately 10,716,252 shares changed hands during trading. An increase of 22% from the average daily volume of 8,793,501 shares. The stock had previously closed at $2.17.
AKS has been the subject of a number of analyst reports. Credit Suisse Group upgraded Vipshop from an “underperform” rating to a “neutral” rating in a research report on Thursday, May 23rd. Bank of America set a $77.00 price target on Zscaler and gave the stock a “neutral” rating in a research report on Friday, May 31st. Goldman Sachs Group upgraded to a “buy” rating and set a GBX 1,180 ($15.42) price objective for the company in a report on Tuesday, June 4th. Finally, Deutsche Bank set a $18.00 price objective on Commercial Metals and gave the company a “buy” rating in a report on Thursday, May 30th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $2.69.
The company has a debt-to-equity ratio of 5.25, a quick ratio of 0.78 and a current ratio of 2.05. The stock has a market cap of $676.98 million, a price-to-earnings ratio of 3.59, a price-to-earnings-growth ratio of 1.26 and a beta of 2.99. The firm’s fifty day simple moving average is $2.11.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in AK Steel by 0.4% during the fourth quarter. BlackRock Inc. now owns 45,940,049 shares of the basic materials company’s stock valued at $103,367,000 after buying an additional 197,294 shares during the period. Bank of Montreal Can raised its position in AK Steel by 170.4% during the first quarter. Bank of Montreal Can now owns 37,268 shares of the basic materials company’s stock valued at $103,000 after buying an additional 23,485 shares during the period. Systematic Financial Management LP acquired a new position in AK Steel in the 1st quarter worth about $1,154,000. Claybrook Capital LLC acquired a new position in AK Steel in the 4th quarter worth about $38,000. Finally, Dimensional Fund Advisors LP increased its position in AK Steel by 5.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,423,378 shares of the basic materials company’s stock worth $16,703,000 after purchasing an additional 368,190 shares during the last quarter. 60.80% of the stock is currently owned by hedge funds and other institutional investors.
AK Steel Company Profile (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.
Recommended Story: Beige Book
Receive News & Ratings for AK Steel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AK Steel and related companies with MarketBeat.com's FREE daily email newsletter.