AK Steel (NYSE:AKS) Given a $3.00 Price Target at BMO Capital Markets

BMO Capital Markets set a $3.00 price objective on AK Steel (NYSE:AKS) in a research report sent to investors on Wednesday, TipRanks reports. The firm currently has a hold rating on the basic materials company’s stock.

Several other analysts have also issued reports on AKS. Bank of America restated an underperform rating and issued a $2.00 price objective on shares of AK Steel in a research note on Friday, May 31st. Credit Suisse Group lowered AK Steel from a neutral rating to an underperform rating and dropped their price objective for the company from $3.50 to $2.05 in a research note on Thursday, May 23rd. Goldman Sachs Group dropped their price objective on AK Steel from $2.25 to $1.50 and set a buy rating on the stock in a research note on Tuesday, June 4th. Deutsche Bank set a $2.00 price objective on AK Steel and gave the company a hold rating in a research note on Thursday, May 30th. Finally, Cowen reiterated a market perform rating and set a $2.40 target price (up previously from $1.90) on shares of AK Steel in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. AK Steel presently has a consensus rating of Hold and a consensus target price of $2.73.

AKS traded down $0.04 on Wednesday, hitting $2.73. 11,863,600 shares of the company were exchanged, compared to its average volume of 9,048,688. AK Steel has a 12 month low of $1.66 and a 12 month high of $5.11. The company has a market cap of $841.60 million, a P/E ratio of 4.27, a PEG ratio of 1.40 and a beta of 2.99. The company has a current ratio of 2.02, a quick ratio of 0.78 and a debt-to-equity ratio of 4.54. The company has a fifty day moving average price of $2.31.

AK Steel (NYSE:AKS) last released its earnings results on Monday, July 29th. The basic materials company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.15. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.73 billion. AK Steel had a return on equity of 57.52% and a net margin of 2.40%. AK Steel’s revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 earnings per share. On average, equities research analysts predict that AK Steel will post 0.43 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of AKS. Norges Bank acquired a new stake in AK Steel during the fourth quarter worth approximately $2,751,000. Two Sigma Advisers LP acquired a new stake in AK Steel during the fourth quarter worth approximately $1,258,000. Systematic Financial Management LP acquired a new stake in AK Steel during the first quarter worth approximately $1,154,000. Dimensional Fund Advisors LP grew its position in AK Steel by 5.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,423,378 shares of the basic materials company’s stock worth $16,703,000 after buying an additional 368,190 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in AK Steel during the first quarter worth approximately $915,000. 60.60% of the stock is currently owned by institutional investors and hedge funds.

AK Steel Company Profile

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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Analyst Recommendations for AK Steel (NYSE:AKS)

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