Bank of America Corporation Reiterates Buy Rating for AK Steel Holding Corporation (AKS)

Bank of America Corporation restated their buy rating on shares of AK Steel Holding Corporation (NYSE:AKS) in a report issued on Wednesday. Bank of America Corporation currently has a $9.00 price objective on the basic materials company’s stock.

Other equities research analysts also recently issued reports about the stock. Clarkson Capital raised shares of AK Steel Holding Corporation from a neutral rating to a buy rating in a report on Wednesday, July 26th. Jefferies Group LLC reiterated a buy rating and set a $9.00 price target on shares of AK Steel Holding Corporation in a research report on Wednesday, June 28th. Longbow Research cut AK Steel Holding Corporation from a buy rating to a neutral rating and upped their price target for the company from $6.20 to $6.24 in a research report on Thursday, July 27th. ValuEngine cut AK Steel Holding Corporation from a strong-buy rating to a buy rating in a research report on Thursday, July 27th. Finally, Zacks Investment Research upgraded AK Steel Holding Corporation from a sell rating to a hold rating in a research report on Thursday, July 20th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. AK Steel Holding Corporation presently has a consensus rating of Buy and an average target price of $8.46.

AK Steel Holding Corporation (AKS) opened at 5.87 on Wednesday. The company’s 50-day moving average is $5.57 and its 200-day moving average is $6.44. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 15.37 and a beta of 2.87. AK Steel Holding Corporation has a 52-week low of $3.87 and a 52-week high of $11.39.

AK Steel Holding Corporation (NYSE:AKS) last released its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.06. The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.55 billion. AK Steel Holding Corporation had a net margin of 1.88% and a return on equity of 735.25%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.08 earnings per share. On average, analysts expect that AK Steel Holding Corporation will post $0.52 earnings per share for the current fiscal year.

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Several hedge funds have recently bought and sold shares of the stock. Amalgamated Bank increased its position in shares of AK Steel Holding Corporation by 0.3% in the first quarter. Amalgamated Bank now owns 42,206 shares of the basic materials company’s stock worth $303,000 after purchasing an additional 120 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of AK Steel Holding Corporation by 0.9% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 21,887 shares of the basic materials company’s stock worth $144,000 after purchasing an additional 193 shares during the last quarter. World Asset Management Inc increased its position in shares of AK Steel Holding Corporation by 1.4% in the first quarter. World Asset Management Inc now owns 19,969 shares of the basic materials company’s stock worth $144,000 after purchasing an additional 283 shares during the last quarter. Shikiar Asset Management Inc. increased its position in shares of AK Steel Holding Corporation by 2.5% in the second quarter. Shikiar Asset Management Inc. now owns 62,500 shares of the basic materials company’s stock worth $411,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in shares of AK Steel Holding Corporation by 2.7% in the second quarter. Public Employees Retirement System of Ohio now owns 61,271 shares of the basic materials company’s stock worth $403,000 after purchasing an additional 1,605 shares during the last quarter. Institutional investors own 72.86% of the company’s stock.

About AK Steel Holding Corporation

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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