AK Steel (AKS) Downgraded by Goldman Sachs Group to Sell
Goldman Sachs Group downgraded shares of AK Steel (NYSE:AKS) from a neutral rating to a sell rating in a report published on Tuesday, MarketBeat.com reports. They currently have $4.00 price objective on the basic materials company’s stock.
Other equities research analysts have also issued research reports about the stock. Vetr lowered shares of AK Steel from a strong-buy rating to a buy rating and set a $6.34 price target on the stock. in a report on Thursday, March 8th. Morgan Stanley cut their price target on shares of AK Steel from $6.50 to $6.00 and set an equal weight rating on the stock in a report on Tuesday, April 17th. Jefferies Group reaffirmed a hold rating and set a $6.00 price objective on shares of AK Steel in a research report on Tuesday, January 30th. ValuEngine raised shares of AK Steel from a sell rating to a hold rating in a research report on Wednesday, March 14th. Finally, Cowen reaffirmed a hold rating and set a $5.50 price objective on shares of AK Steel in a research report on Wednesday, January 31st. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $6.04.
AKS stock opened at $4.52 on Tuesday. AK Steel has a 52-week low of $4.00 and a 52-week high of $7.04. The company has a current ratio of 2.09, a quick ratio of 0.76 and a debt-to-equity ratio of 6.34. The company has a market cap of $1.39 billion, a PE ratio of 14.58, a PEG ratio of 1.31 and a beta of 2.89.
In other AK Steel news, Chairman James A. Thomson sold 10,270 shares of the business’s stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $4.45, for a total value of $45,701.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.13% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Polar Asset Management Partners Inc. bought a new stake in AK Steel in the first quarter worth approximately $6,771,000. Principal Financial Group Inc. grew its position in AK Steel by 2.4% in the first quarter. Principal Financial Group Inc. now owns 2,446,168 shares of the basic materials company’s stock worth $11,081,000 after acquiring an additional 57,228 shares in the last quarter. Highbridge Capital Management LLC grew its position in AK Steel by 77.2% in the first quarter. Highbridge Capital Management LLC now owns 502,647 shares of the basic materials company’s stock worth $2,277,000 after acquiring an additional 219,000 shares in the last quarter. LPL Financial LLC grew its position in AK Steel by 21.8% in the first quarter. LPL Financial LLC now owns 99,289 shares of the basic materials company’s stock worth $450,000 after acquiring an additional 17,739 shares in the last quarter. Finally, MetLife Investment Advisors LLC grew its position in AK Steel by 11.7% in the first quarter. MetLife Investment Advisors LLC now owns 143,725 shares of the basic materials company’s stock worth $651,000 after acquiring an additional 15,052 shares in the last quarter. 63.73% of the stock is owned by institutional investors.
About AK Steel
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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