AK Steel (AKS) Bonds Drop 1% During Trading

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An issue of AK Steel Holding Co. (NYSE:AKS) debt fell 1% against its face value during trading on Friday. The high-yield issue of debt has a 7.625% coupon and will mature on October 1, 2021. The bonds in the issue are now trading at $100.76 and were trading at $100.75 last week. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its stock price.

A number of research analysts have commented on the stock. TheStreet upgraded shares of AK Steel from a “d+” rating to a “c-” rating in a research note on Thursday, February 21st. Zacks Investment Research downgraded shares of AK Steel from a “buy” rating to a “hold” rating in a report on Thursday, February 14th. Deutsche Bank lowered their target price on shares of AK Steel to $2.50 and set a “hold” rating on the stock in a report on Tuesday, February 5th. Bank of America downgraded shares of AK Steel from a “buy” rating to an “underperform” rating and lowered their target price for the company from $5.00 to $2.50 in a report on Wednesday, January 30th. Finally, Longbow Research downgraded shares of AK Steel from a “buy” rating to a “neutral” rating and set a $2.77 target price on the stock. in a report on Wednesday, January 30th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $3.55.

Shares of NYSE:AKS traded down $0.17 during midday trading on Friday, hitting $2.65. The stock had a trading volume of 9,521,548 shares, compared to its average volume of 10,624,169. The company has a market cap of $866.69 million, a price-to-earnings ratio of 4.14, a PEG ratio of 1.16 and a beta of 2.85. The company has a quick ratio of 0.69, a current ratio of 1.95 and a debt-to-equity ratio of 4.64. AK Steel Holding Co. has a 1 year low of $2.05 and a 1 year high of $5.40.

AK Steel (NYSE:AKS) last issued its earnings results on Monday, January 28th. The basic materials company reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.05. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.70 billion. AK Steel had a net margin of 2.73% and a return on equity of 54.01%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. On average, research analysts forecast that AK Steel Holding Co. will post 0.46 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in AKS. Stratos Wealth Partners LTD. purchased a new stake in AK Steel during the fourth quarter worth about $25,000. Claybrook Capital LLC purchased a new stake in AK Steel during the fourth quarter worth about $38,000. Magnus Financial Group LLC purchased a new stake in AK Steel during the fourth quarter worth about $40,000. Blueshift Asset Management LLC purchased a new stake in AK Steel during the fourth quarter worth about $45,000. Finally, Shoker Investment Counsel Inc. boosted its holdings in AK Steel by 42.6% during the fourth quarter. Shoker Investment Counsel Inc. now owns 25,360 shares of the basic materials company’s stock worth $57,000 after buying an additional 7,580 shares in the last quarter. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

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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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