AK Steel Holding Corp. (AKS) Shares Down 6.5%
AK Steel Holding Corp. (NYSE:AKS)’s share price was down 6.5% during mid-day trading on Tuesday . The stock traded as low as $5.42 and last traded at $5.44, with a volume of 9,353,498 shares traded. The stock had previously closed at $5.82.
Several equities analysts recently issued reports on AKS shares. Jefferies Group raised their price target on AK Steel Holding Corp. from $2.00 to $4.25 and gave the stock a “hold” rating in a research report on Monday, March 21st. Credit Suisse Group AG raised their price target on AK Steel Holding Corp. from $2.00 to $3.50 and gave the stock an “underperform” rating in a research report on Wednesday, March 23rd. Deutsche Bank AG raised their price target on AK Steel Holding Corp. from $1.00 to $2.00 and gave the stock a “sell” rating in a research report on Wednesday, March 23rd. JPMorgan Chase & Co. restated an “overweight” rating and set a $6.00 price target on shares of AK Steel Holding Corp. in a research report on Tuesday, April 5th. Finally, Cowen and Company restated a “market perform” rating and set a $5.00 price target (up from $3.00) on shares of AK Steel Holding Corp. in a research report on Wednesday, April 27th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $4.28.
The stock’s market capitalization is $973.90 million. The company has a 50 day moving average of $4.82 and a 200 day moving average of $3.76.
AK Steel Holding Corp. (NYSE:AKS) last posted its earnings results on Tuesday, April 26th. The company reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.03. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the business earned ($0.28) earnings per share. AK Steel Holding Corp.’s revenue was down 13.2% on a year-over-year basis. On average, equities research analysts forecast that AK Steel Holding Corp. will post $0.23 EPS for the current fiscal year.
An institutional investor recently raised its position in AK Steel Holding Corp. stock. Royce & Associates LLC increased its position in shares of AK Steel Holding Corp. (NYSE:AKS) by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,735,609 shares of the company’s stock after buying an additional 45,000 shares during the period. Royce & Associates LLC owned 0.98% of AK Steel Holding Corp. worth $3,888,000 as of its most recent filing with the SEC.
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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