AK Steel Holding Corporation (AKS) Given Buy Rating at Jefferies Group LLC

Jefferies Group LLC reiterated their buy rating on shares of AK Steel Holding Corporation (NYSE:AKS) in a research note published on Monday.

A number of other equities analysts have also recently commented on the company. Bank of America Corporation reaffirmed a buy rating and issued a $9.00 target price on shares of AK Steel Holding Corporation in a report on Wednesday, September 6th. Clarkson Capital raised AK Steel Holding Corporation from a neutral rating to a buy rating and set a $8.00 target price on the stock in a report on Thursday, May 25th. Zacks Investment Research raised AK Steel Holding Corporation from a sell rating to a hold rating in a report on Thursday, July 20th. Deutsche Bank AG reaffirmed a buy rating and issued a $10.00 target price on shares of AK Steel Holding Corporation in a report on Thursday, July 6th. Finally, Macquarie assumed coverage on AK Steel Holding Corporation in a report on Wednesday, September 6th. They issued an outperform rating and a $7.00 target price on the stock. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $8.46.

Shares of AK Steel Holding Corporation (NYSE:AKS) opened at 5.61 on Monday. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 14.69 and a beta of 2.87. AK Steel Holding Corporation has a 1-year low of $4.24 and a 1-year high of $11.39. The company’s 50 day moving average price is $5.49 and its 200-day moving average price is $6.29.

AK Steel Holding Corporation (NYSE:AKS) last announced its earnings results on Tuesday, July 25th. The basic materials company reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.06. AK Steel Holding Corporation had a return on equity of 735.25% and a net margin of 1.88%. The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period last year, the firm earned $0.08 EPS. AK Steel Holding Corporation’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities analysts forecast that AK Steel Holding Corporation will post $0.53 earnings per share for the current year.

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Hedge funds have recently modified their holdings of the company. Archford Capital Strategies LLC increased its holdings in shares of AK Steel Holding Corporation by 12,352.2% in the second quarter. Archford Capital Strategies LLC now owns 14,320 shares of the basic materials company’s stock worth $1,909,000 after purchasing an additional 14,205 shares during the last quarter. Stifel Financial Corp bought a new stake in shares of AK Steel Holding Corporation in the first quarter worth about $110,000. Meadow Creek Investment Management LLC increased its holdings in shares of AK Steel Holding Corporation by 14.6% in the first quarter. Meadow Creek Investment Management LLC now owns 16,016 shares of the basic materials company’s stock worth $115,000 after purchasing an additional 2,044 shares during the last quarter. Concert Wealth Management Inc. increased its holdings in shares of AK Steel Holding Corporation by 12.2% in the first quarter. Concert Wealth Management Inc. now owns 16,600 shares of the basic materials company’s stock worth $167,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Riverhead Capital Management LLC increased its holdings in shares of AK Steel Holding Corporation by 74.4% in the second quarter. Riverhead Capital Management LLC now owns 17,616 shares of the basic materials company’s stock worth $116,000 after purchasing an additional 7,516 shares during the last quarter. 72.86% of the stock is currently owned by hedge funds and other institutional investors.

AK Steel Holding Corporation Company Profile

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.

Analyst Recommendations for AK Steel Holding Corporation (NYSE:AKS)

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