AK Steel (AKS) Now Covered by Analysts at Cowen

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Cowen began coverage on shares of AK Steel (NYSE:AKS) in a research report released on Tuesday morning, Marketbeat.com reports. The firm issued a market perform rating and a $2.50 price objective on the basic materials company’s stock.

Several other analysts have also weighed in on the company. Clarkson Capital upgraded AK Steel from a neutral rating to a buy rating in a report on Tuesday, September 11th. Morgan Stanley set a $5.00 price objective on AK Steel and gave the company a buy rating in a report on Wednesday, November 7th. ValuEngine lowered AK Steel from a sell rating to a strong sell rating in a report on Wednesday, October 24th. Seaport Global Securities started coverage on AK Steel in a report on Thursday, October 11th. They issued a neutral rating and a $5.00 price objective for the company. Finally, Zacks Investment Research upgraded AK Steel from a sell rating to a hold rating in a report on Monday, November 12th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $4.92.

Shares of AK Steel stock traded up $0.04 during trading on Tuesday, hitting $2.74. The stock had a trading volume of 3,177,602 shares, compared to its average volume of 9,670,262. The company has a quick ratio of 0.77, a current ratio of 2.03 and a debt-to-equity ratio of 4.65. The firm has a market cap of $870.90 million, a price-to-earnings ratio of 8.84, a price-to-earnings-growth ratio of 0.71 and a beta of 2.61. AK Steel has a fifty-two week low of $2.05 and a fifty-two week high of $6.80.

AK Steel (NYSE:AKS) last announced its quarterly earnings data on Thursday, October 25th. The basic materials company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.02). The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.82 billion. AK Steel had a net margin of 0.67% and a return on equity of 45.52%. Analysts anticipate that AK Steel will post 0.6 earnings per share for the current fiscal year.

In related news, CEO Roger K. Newport bought 10,000 shares of the business’s stock in a transaction dated Tuesday, November 27th. The shares were bought at an average cost of $3.03 per share, with a total value of $30,300.00. Following the completion of the transaction, the chief executive officer now directly owns 461,297 shares of the company’s stock, valued at $1,397,729.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.13% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in AKS. Tower Research Capital LLC TRC raised its position in shares of AK Steel by 1,136.9% during the third quarter. Tower Research Capital LLC TRC now owns 22,956 shares of the basic materials company’s stock worth $113,000 after purchasing an additional 21,100 shares during the period. Centaurus Financial Inc. acquired a new stake in shares of AK Steel during the second quarter worth $117,000. MML Investors Services LLC raised 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 buying an additional 13,037 shares during the period. Laurion Capital Management LP acquired a new position in AK Steel during the second quarter valued at $140,000. Finally, Exane Derivatives acquired a new position in AK Steel during the third quarter valued at $143,000. 65.90% of the stock is currently owned by 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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