AK Steel (AKS) Shares Gap Up to $4.89
AK Steel Holding Co. (NYSE:AKS)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $4.70, but opened at $4.89. AK Steel shares last traded at $4.96, with a volume of 18223600 shares.
Several research firms recently issued reports on AKS. Cowen reissued a “hold” rating and set a $6.00 target price on shares of AK Steel in a research note on Tuesday, October 24th. Macquarie assumed coverage on AK Steel in a report on Wednesday, September 6th. They set an “outperform” rating and a $7.00 price target on the stock. Bank of America restated a “buy” rating and set a $9.00 price target on shares of AK Steel in a report on Wednesday, September 6th. BMO Capital Markets restated a “hold” rating and set a $7.00 price target on shares of AK Steel in a report on Thursday, October 5th. Finally, Longbow Research restated a “neutral” rating on shares of AK Steel in a report on Tuesday, October 3rd. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $7.46.
The stock has a market capitalization of $1,630.00, a P/E ratio of 7.42, a PEG ratio of 3.88 and a beta of 2.89. The company has a quick ratio of 0.75, a current ratio of 1.92 and a debt-to-equity ratio of 11.89.
A number of large investors have recently added to or reduced their stakes in the stock. Aperio Group LLC lifted its position in AK Steel by 19.1% during the 2nd quarter. Aperio Group LLC now owns 106,889 shares of the basic materials company’s stock worth $702,000 after acquiring an additional 17,165 shares during the period. US Bancorp DE lifted its position in AK Steel by 4.9% during the 2nd quarter. US Bancorp DE now owns 58,907 shares of the basic materials company’s stock worth $387,000 after acquiring an additional 2,763 shares during the period. Municipal Employees Retirement System of Michigan lifted its position in AK Steel by 3.9% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 74,320 shares of the basic materials company’s stock worth $488,000 after acquiring an additional 2,800 shares during the period. World Asset Management Inc lifted its position in AK Steel by 2.5% during the 2nd quarter. World Asset Management Inc now owns 20,471 shares of the basic materials company’s stock worth $134,000 after acquiring an additional 502 shares during the period. Finally, Texas Permanent School Fund lifted its position in AK Steel by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 229,829 shares of the basic materials company’s stock worth $1,510,000 after acquiring an additional 1,920 shares during the period. Hedge funds and other institutional investors own 65.14% of the company’s stock.
WARNING: This article was originally reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this article on another publication, it was illegally copied and republished in violation of US & international copyright & trademark law. The original version of this article can be viewed at https://theolympiareport.com/2017/12/07/ak-steel-aks-shares-gap-up-to-4-89.html.
About AK Steel
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.
Receive News & Ratings for AK Steel Holding Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AK Steel Holding Co. and related companies with Analyst Ratings Network's FREE daily email newsletter.