AK Steel Holding Corp. (AKS) Shares Down 6.5%
AK Steel Holding Corp. (NYSE:AKS) shares were down 6.5% during trading on Tuesday . The company traded as low as $5.42 and last traded at $5.44, with a volume of 9,353,498 shares changing hands. The stock had previously closed at $5.82.
A number of research analysts recently commented on AKS shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $6.00 target price on shares of AK Steel Holding Corp. in a research report on Tuesday, April 5th. Credit Suisse Group AG reissued a “sell” rating on shares of AK Steel Holding Corp. in a research report on Thursday, March 24th. Zacks Investment Research raised shares of AK Steel Holding Corp. from a “hold” rating to a “buy” rating and set a $4.50 price objective on the stock in a research report on Tuesday, June 28th. Macquarie reissued an “outperform” rating and set a $5.50 price objective (up from $4.80) on shares of AK Steel Holding Corp. in a research report on Wednesday, April 27th. Finally, Deutsche Bank AG raised their price objective on shares of 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. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $4.28.
The company’s 50 day moving average is $4.87 and its 200 day moving average is $3.79. The company’s market capitalization is $975.68 million.
AK Steel Holding Corp. (NYSE:AKS) last posted its quarterly earnings results on Tuesday, April 26th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.03. The company earned $1.52 billion during the quarter, compared to analyst estimates of $1.50 billion. The company’s revenue was down 13.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.28) earnings per share. On average, equities 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 raised its position in AK Steel Holding Corp. (NYSE:AKS) by 2.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,735,609 shares of the company’s stock after buying an additional 45,000 shares during the period. Royce & Associates LLC owned approximately 0.98% of AK Steel Holding Corp. worth $3,888,000 at the end of the most recent reporting period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.