AK Steel (NYSE:AKS) Stock Price Up 6%

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.

AK Steel (NYSE:AKS) last announced its earnings results on Monday, April 29th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.10. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.75 billion. AK Steel had a return on equity of 61.44% and a net margin of 2.23%. AK Steel’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 earnings per share. Research analysts predict that AK Steel Holding Co. will post 0.34 earnings per share for the current year.

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.

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