Morgan Stanley Analysts Give AK Steel (AKS) a $5.00 Price Target

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Morgan Stanley set a $5.00 price objective on AK Steel (NYSE:AKS) in a research note released on Wednesday. The firm currently has a buy rating on the basic materials company’s stock.

Other research analysts also recently issued research reports about the company. Clarkson Capital upgraded AK Steel from a neutral rating to a buy rating in a report on Tuesday, September 11th. Bank of America upgraded AK Steel from an underperform rating to a buy rating and set a $6.00 price target on the stock in a report on Friday, September 7th. Zacks Investment Research upgraded AK Steel from a hold rating to a buy rating and set a $5.00 price target on the stock in a report on Tuesday, July 17th. Seaport Global Securities initiated coverage on AK Steel in a report on Thursday, October 11th. They set a neutral rating and a $5.00 price target on the stock. Finally, ValuEngine upgraded AK Steel from a strong sell rating to a sell rating in a report on Monday, July 30th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $5.36.

Shares of AKS stock traded down $0.16 on Wednesday, reaching $3.66. 12,478,726 shares of the company’s stock traded hands, compared to its average volume of 12,582,641. AK Steel has a 12-month low of $3.42 and a 12-month high of $6.80. The company has a current ratio of 2.03, a quick ratio of 0.77 and a debt-to-equity ratio of 4.65. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 8.50, a P/E/G ratio of 1.33 and a beta of 2.85.

AK Steel (NYSE:AKS) last issued its quarterly earnings results on Thursday, October 25th. The basic materials company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). AK Steel had a net margin of 0.67% and a return on equity of 45.52%. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.82 billion. On average, sell-side analysts predict that AK Steel will post 0.59 EPS for the current year.

In other news, CEO Roger K. Newport acquired 10,000 shares of AK Steel stock in a transaction that occurred on Wednesday, August 15th. The stock was purchased at an average price of $4.03 per share, with a total value of $40,300.00. Following the completion of the transaction, the chief executive officer now owns 451,297 shares in the company, valued at $1,818,726.91. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.13% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Centaurus Financial Inc. acquired a new stake in AK Steel during the second quarter valued at $117,000. MML Investors Services LLC boosted its position in AK Steel by 105.9% during the third quarter. MML Investors Services LLC now owns 25,343 shares of the basic materials company’s stock valued at $124,000 after purchasing an additional 13,037 shares during the last quarter. Truepoint Inc. boosted its position in AK Steel by 21,958.8% during the second quarter. Truepoint Inc. now owns 30,000 shares of the basic materials company’s stock valued at $130,000 after purchasing an additional 29,864 shares during the last quarter. Clinton Group Inc. acquired a new stake in shares of AK Steel in the second quarter worth about $140,000. Finally, Laurion Capital Management LP acquired a new stake in shares of AK Steel in the second quarter worth about $140,000. 64.85% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for AK Steel (NYSE:AKS)

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