Today, Vetr Inc. Downgraded AK Steel Holding Corp. (AKS) to Buy

Today, Vetr Inc. Downgraded AK Steel Holding Corp. (AKS) to Buy

AK Steel Holding Corp. (NYSE:AKS) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday. They currently have a $6.22 price target on the stock. Vetr‘s price target would indicate a potential downside of 33.83% from the company’s previous close.

Several other research firms have also weighed in on AKS. JPMorgan Chase & Co. upped their price objective on AK Steel Holding Corp. from $6.00 to $8.50 and gave the company an “overweight” rating in a research note on Wednesday, July 27th. Jefferies Group upped their price objective on AK Steel Holding Corp. from $5.00 to $5.50 and gave the company a “hold” rating in a research note on Wednesday, July 27th. Cowen and Company upped their price objective on AK Steel Holding Corp. from $5.00 to $7.00 and gave the company a “market perform” rating in a research note on Wednesday, July 27th. Barclays PLC upped their price objective on AK Steel Holding Corp. from $5.00 to $6.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 3rd. Finally, Zacks Investment Research downgraded AK Steel Holding Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, August 16th. Three analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. AK Steel Holding Corp. currently has an average rating of “Hold” and an average price target of $6.46.

Shares of AK Steel Holding Corp. (NYSE:AKS) traded up 2.40% during trading on Monday, hitting $9.40. The stock had a trading volume of 11,272,083 shares. The stock’s market capitalization is $2.24 billion. AK Steel Holding Corp. has a 52 week low of $1.64 and a 52 week high of $9.45. The stock’s 50 day moving average is $6.13 and its 200 day moving average is $5.12.

AK Steel Holding Corp. (NYSE:AKS) last released its quarterly earnings data on Tuesday, October 25th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.08. AK Steel Holding Corp. had a negative return on equity of 24.32% and a negative net margin of 1.54%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the company posted $0.04 EPS. The company’s revenue was down 15.0% compared to the same quarter last year. On average, equities research analysts expect that AK Steel Holding Corp. will post $0.31 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC boosted its position in AK Steel Holding Corp. by 418.7% in the third quarter. Jane Street Group LLC now owns 208,452 shares of the company’s stock worth $1,007,000 after buying an additional 168,268 shares during the period. Panagora Asset Management Inc. boosted its position in AK Steel Holding Corp. by 7.1% in the third quarter. Panagora Asset Management Inc. now owns 1,713,526 shares of the company’s stock worth $8,276,000 after buying an additional 113,166 shares during the period. Clinton Group Inc. boosted its position in AK Steel Holding Corp. by 117.5% in the third quarter. Clinton Group Inc. now owns 208,318 shares of the company’s stock worth $1,006,000 after buying an additional 112,531 shares during the period. The Manufacturers Life Insurance Company purchased a new position in AK Steel Holding Corp. during the third quarter worth about $782,000. Finally, Two Sigma Securities LLC boosted its position in AK Steel Holding Corp. by 330.8% in the third quarter. Two Sigma Securities LLC now owns 45,877 shares of the company’s stock worth $222,000 after buying an additional 35,227 shares during the period. Institutional investors and hedge funds own 56.63% of the company’s stock.

AK Steel Holding Corp. Company Profile

AK Steel Holding Corporation is an integrated producer of flat-rolled carbon, stainless and electrical steels and tubular products through its subsidiary, AK Steel Corporation (AK Steel). The Company operates approximately eight steelmaking and finishing plants, over two coke plants and approximately two tube manufacturing plants across states, which include Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia.

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