AK Steel Holding Co. (NYSE:AKS)’s stock price shot up 6.3% on Tuesday . The company traded as high as $2.63 and last traded at $2.53, 10,834,966 shares were traded during trading. An increase of 20% from the average session volume of 9,055,699 shares. The stock had previously closed at $2.38.

A number of brokerages recently weighed in on AKS. Citigroup set a $3.00 price target on shares of AK Steel and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Credit Suisse Group cut shares of AK Steel from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $3.50 to $2.05 in a research note on Thursday, May 23rd. Bank of America reiterated an “underperform” rating and set a $2.00 price target on shares of AK Steel in a research note on Friday, May 31st. BMO Capital Markets set a $3.00 price target on shares of AK Steel and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, Goldman Sachs Group cut their price objective on shares of AK Steel from $2.25 to $1.50 and set a “buy” rating for the company in a research report on Tuesday, June 4th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $2.73.

The stock has a market cap of $771.98 million, a P/E ratio of 3.95, a PEG ratio of 1.15 and a beta of 3.07. The company has a current ratio of 2.02, a quick ratio of 0.76 and a debt-to-equity ratio of 4.54. The stock has a 50-day simple moving average of $2.40.

AK Steel (NYSE:AKS) last announced its quarterly earnings data on Monday, July 29th. The basic materials company reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.15. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.73 billion. AK Steel had a net margin of 2.40% and a return on equity of 57.52%. AK Steel’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 EPS. As a group, equities research analysts forecast that AK Steel Holding Co. will post 0.42 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in AKS. Naples Global Advisors LLC purchased a new position in shares of AK Steel in the 2nd quarter valued at about $25,000. Convergence Investment Partners LLC purchased a new position in shares of AK Steel in the 1st quarter valued at about $30,000. Janney Montgomery Scott LLC purchased a new position in shares of AK Steel in the 1st quarter valued at about $33,000. Nomura Asset Management Co. Ltd. purchased a new position in shares of AK Steel in the 1st quarter valued at about $42,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of AK Steel in the 1st quarter valued at about $45,000. Institutional investors own 60.63% of the company’s stock.

About AK Steel (NYSE:AKS)

AK Steel Holding Corporation, through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, and stainless and electrical steel 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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