Goldman Sachs Group lowered shares of AK Steel (NYSE:AKS) from a neutral rating to a sell rating in a research report released on Tuesday, May 29th, MarketBeat Ratings reports. Goldman Sachs Group currently has $4.00 price objective on the basic materials company’s stock.
Other equities research analysts have also issued reports about the company. Vetr lowered AK Steel from a strong-buy rating to a buy rating and set a $6.34 price target for the company. in a research note on Thursday, March 8th. Zacks Investment Research lowered AK Steel from a hold rating to a sell rating in a research note on Tuesday, March 13th. Bank of America decreased their price target on AK Steel from $5.50 to $5.00 and set a sell rating for the company in a research note on Tuesday, May 1st. Cowen set a $4.50 price target on AK Steel and gave the stock a market perform rating in a research note on Tuesday, May 1st. Finally, BMO Capital Markets decreased their price target on AK Steel from $7.00 to $5.00 and set a market perform rating for the company in a research note on Tuesday, May 1st. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. AK Steel presently has an average rating of Hold and a consensus price target of $6.04.
NYSE:AKS opened at $4.70 on Tuesday. The company has a market capitalization of $1.49 billion, a PE ratio of 15.16, a P/E/G ratio of 1.39 and a beta of 2.88. AK Steel has a 1 year low of $4.00 and a 1 year high of $7.04. The company has a debt-to-equity ratio of 6.34, a current ratio of 2.09 and a quick ratio of 0.76.
AK Steel (NYSE:AKS) last posted its quarterly earnings data on Monday, April 30th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.06. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.58 billion. AK Steel had a positive return on equity of 37.76% and a negative net margin of 0.38%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the company earned $0.19 EPS. research analysts expect that AK Steel will post 0.68 EPS for the current fiscal year.
In other news, Chairman James A. Thomson sold 10,270 shares of AK Steel stock in a transaction on Tuesday, May 8th. The stock was sold at an average price of $4.45, for a total value of $45,701.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director William K. Gerber sold 12,000 shares of AK Steel stock in a transaction on Thursday, May 31st. The shares were sold at an average price of $4.65, for a total value of $55,800.00. The disclosure for this sale can be found here. Company insiders own 1.13% of the company’s stock.
Several large investors have recently made changes to their positions in AKS. Schwab Charles Investment Management Inc. increased its holdings in shares of AK Steel by 1.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,866,605 shares of the basic materials company’s stock valued at $10,565,000 after acquiring an additional 29,300 shares during the period. Commerzbank Aktiengesellschaft FI increased its holdings in shares of AK Steel by 15.8% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 584,423 shares of the basic materials company’s stock valued at $3,308,000 after acquiring an additional 79,692 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of AK Steel in the 4th quarter valued at $419,000. CIBC Asset Management Inc grew its stake in AK Steel by 68.0% during the 4th quarter. CIBC Asset Management Inc now owns 39,756 shares of the basic materials company’s stock worth $225,000 after buying an additional 16,094 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in AK Steel by 37.1% during the 4th quarter. Crossmark Global Holdings Inc. now owns 71,116 shares of the basic materials company’s stock worth $403,000 after buying an additional 19,238 shares during the last quarter. Institutional investors and hedge funds own 63.74% of the company’s stock.
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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