AK Steel Holding Corp. (AKS) Sees Strong Trading Volume
AK Steel Holding Corp. (NYSE:AKS) shares saw unusually-high trading volume on Friday . Approximately 14,930,889 shares were traded during mid-day trading, an increase of 3% from the previous session’s volume of 14,484,758 shares.The stock last traded at $4.71 and had previously closed at $5.17.
AKS has been the topic of several recent research reports. Zacks Investment Research upgraded shares of AK Steel Holding Corp. from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a research note on Tuesday, June 28th. Barclays PLC lifted their price target on shares of AK Steel Holding Corp. from $4.00 to $5.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 12th. Jefferies Group lifted their price target on shares of AK Steel Holding Corp. from $4.25 to $5.00 and gave the company a “hold” rating in a research note on Friday, June 10th. TheStreet upgraded shares of AK Steel Holding Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, April 26th. Finally, Morgan Stanley reiterated a “hold” rating on shares of AK Steel Holding Corp. in a research note on Tuesday. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $4.72.
The company has a 50 day moving average of $5.52 and a 200 day moving average of $4.34. The company’s market capitalization is $1.11 billion.
AK Steel Holding Corp. (NYSE:AKS) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.10. During the same quarter in the previous year, the company posted ($0.36) EPS. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.53 billion. The business’s quarterly revenue was down 11.7% on a year-over-year basis. On average, analysts forecast that AK Steel Holding Corp. will post $0.32 earnings per share for the current fiscal year.
In other AK Steel Holding Corp. news, Director Vicente Wright sold 27,000 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $6.70, for a total transaction of $180,900.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
An institutional investor recently raised its position in AK Steel Holding Corp. stock. Royce & Associates LLC raised its stake in 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. 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.
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