AK Steel Holding Corporation (AKS) Upgraded to Buy by Deutsche Bank AG

Deutsche Bank AG upgraded shares of AK Steel Holding Corporation (NYSE:AKS) from a hold rating to a buy rating in a report issued on Friday, Marketbeat reports. Deutsche Bank AG currently has $10.00 price target on the basic materials company’s stock.

AKS has been the subject of several other reports. Vetr raised AK Steel Holding Corporation from a buy rating to a strong-buy rating and set a $8.76 price objective for the company in a report on Tuesday, March 7th. Macquarie raised AK Steel Holding Corporation from a neutral rating to an outperform rating and increased their price objective for the company from $7.30 to $8.10 in a report on Monday, April 24th. Longbow Research started coverage on AK Steel Holding Corporation in a report on Friday, May 19th. They issued a neutral rating for the company. Jefferies Group LLC reissued a buy rating and issued a $9.00 price objective on shares of AK Steel Holding Corporation in a report on Friday, April 28th. Finally, TheStreet raised AK Steel Holding Corporation from a d+ rating to a c rating in a report on Tuesday, April 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. AK Steel Holding Corporation has an average rating of Hold and an average target price of $8.32.

AK Steel Holding Corporation (NYSE:AKS) traded down 2.6301% during trading on Friday, reaching $6.4751. 10,788,586 shares of the company’s stock were exchanged. The stock has a market capitalization of $2.04 billion, a PE ratio of 25.0973 and a beta of 2.81. AK Steel Holding Corporation has a 52 week low of $3.87 and a 52 week high of $11.39. The stock has a 50-day moving average of $5.95 and a 200-day moving average of $7.89.

AK Steel Holding Corporation (NYSE:AKS) last posted its quarterly earnings data on Tuesday, April 25th. The basic materials company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.04. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.49 billion. AK Steel Holding Corporation had a negative return on equity of 235.11% and a net margin of 1.16%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.08) earnings per share. On average, equities research analysts anticipate that AK Steel Holding Corporation will post $0.61 EPS for the current year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AKS. Elkfork Partners LLC acquired a new position in AK Steel Holding Corporation during the fourth quarter valued at about $112,000. Boothbay Fund Management LLC acquired a new position in AK Steel Holding Corporation during the fourth quarter valued at about $123,000. Private Advisor Group LLC boosted its position in AK Steel Holding Corporation by 24.5% in the fourth quarter. Private Advisor Group LLC now owns 14,997 shares of the basic materials company’s stock valued at $165,000 after buying an additional 2,950 shares during the last quarter. Stifel Financial Corp acquired a new position in AK Steel Holding Corporation during the first quarter valued at about $110,000. Finally, Meadow Creek Investment Management LLC boosted its position in 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 valued at $115,000 after buying an additional 2,044 shares during the last quarter. Hedge funds and other institutional investors own 76.65% of the company’s stock.

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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