AK Steel Holding Corp. (AKS) Stock Price Down 5.3%
AK Steel Holding Corp. (NYSE:AKS) dropped 5.3% on Tuesday . The stock traded as low as $5.72 and last traded at $5.72, with a volume of 8,478,015 shares changing hands. The stock had previously closed at $6.04.
AKS has been the subject of several analyst reports. Cowen and Company reissued a “market perform” rating and set a $5.00 price target (up previously from $3.00) on shares of AK Steel Holding Corp. in a research report on Wednesday, April 27th. Macquarie reissued an “outperform” rating and set a $5.50 price target (up previously from $4.80) on shares of AK Steel Holding Corp. in a research report on Wednesday, April 27th. TheStreet raised shares of AK Steel Holding Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, April 26th. Jefferies Group reissued a “hold” rating and set a $4.25 price target on shares of AK Steel Holding Corp. in a research report on Friday, April 29th. Finally, Zacks Investment Research downgraded shares of AK Steel Holding Corp. from a “buy” rating to a “hold” rating in a research report on Friday, April 29th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $4.78.
The firm’s market capitalization is $1.34 billion. The stock’s 50 day moving average price is $5.36 and its 200 day moving average price is $4.14.
AK Steel Holding Corp. (NYSE:AKS) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.10. The business earned $1.49 billion during the quarter, compared to analysts’ expectations of $1.53 billion. AK Steel Holding Corp.’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.36) EPS. On average, analysts forecast that AK Steel Holding Corp. will post $0.32 earnings per share for the current year.
In other news, Director Vicente Wright sold 27,000 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $6.70, for a total value of $180,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
A hedge fund recently raised its stake in AK Steel Holding Corp. stock. Royce & Associates LLC boosted its position in shares of AK Steel Holding Corp. (NYSE:AKS) by 2.7% during the fourth quarter, according to its most recent Form 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.