AK Steel Holding Co. (NYSE:AKS)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $2.63, but opened at $2.52. AK Steel shares last traded at $2.47, with a volume of 13,088,673 shares changing hands.
Several research firms have recently commented on AKS. BMO Capital Markets set a $3.00 target price on AK Steel and gave the company a “hold” rating in a research note on Wednesday, July 31st. Cowen reiterated a “market perform” rating and set a $2.40 target price (up from $1.90) on shares of AK Steel in a research note on Wednesday, July 31st. Deutsche Bank set a $2.00 target price on AK Steel and gave the company a “hold” rating in a research note on Thursday, May 30th. Bank of America reiterated an “underperform” rating and set a $2.00 target price on shares of AK Steel in a research note on Friday, May 31st. Finally, Citigroup set a $3.00 target price on AK Steel and gave the company a “hold” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $2.73.
The company has a current ratio of 2.02, a quick ratio of 0.76 and a debt-to-equity ratio of 4.54. The firm has a market capitalization of $797.29 million, a price-to-earnings ratio of 3.80, a price-to-earnings-growth ratio of 1.20 and a beta of 3.08. The company has a 50-day moving average of $2.42 and a 200-day moving average of $2.41.
Several hedge funds have recently bought and sold shares of the stock. Naples Global Advisors LLC acquired a new stake in AK Steel in the second quarter worth $25,000. Janney Montgomery Scott LLC acquired a new stake in AK Steel in the first quarter worth $33,000. Nomura Asset Management Co. Ltd. acquired a new stake in AK Steel in the first quarter worth $42,000. Public Employees Retirement System of Ohio increased its position in AK Steel by 27.4% in the second quarter. Public Employees Retirement System of Ohio now owns 30,376 shares of the basic materials company’s stock worth $72,000 after buying an additional 6,526 shares during the period. Finally, Financial Advocates Investment Management increased its position in AK Steel by 133.8% in the second quarter. Financial Advocates Investment Management now owns 33,725 shares of the basic materials company’s stock worth $80,000 after buying an additional 19,300 shares during the period. 61.63% of the stock is currently owned by institutional investors and hedge funds.
About AK Steel (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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