AK Steel Holding Corp. (AKS) Shares Up 6.6%
AK Steel Holding Corp. (NYSE:AKS)’s share price shot up 6.6% on Monday . The stock traded as high as $5.41 and last traded at $5.36, with a volume of 5,577,983 shares changing hands. The stock had previously closed at $5.03.
Several research firms have weighed in on AKS. JPMorgan Chase & Co. lifted their target price 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 lifted their target price 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 lifted their target price 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 lifted their target price 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, Morgan Stanley reaffirmed a “hold” rating on shares of AK Steel Holding Corp. in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $4.78.
The firm’s market capitalization is $1.24 billion. The company has a 50-day moving average price of $5.47 and a 200 day moving average price of $4.31.
AK Steel Holding Corp. (NYSE:AKS) last announced its earnings results on Tuesday, July 26th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.10. During the same period in the prior year, the business posted ($0.36) EPS. The firm earned $1.49 billion during the quarter, compared to analyst estimates of $1.53 billion. The firm’s quarterly revenue was down 11.7% compared to the same quarter last year. Equities research analysts anticipate that AK Steel Holding Corp. will post $0.32 EPS for the current year.
In other AK Steel Holding Corp. news, Director Vicente Wright sold 27,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $6.70, for a total value of $180,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A hedge fund recently raised its stake 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 disclosure with the Securities and Exchange Commission. 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 0.98% of AK Steel Holding Corp. worth $3,888,000 as of its most recent SEC filing.
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.