AK Steel Holding Corp. (AKS) Shares Up 2.4%
AK Steel Holding Corp. (NYSE:AKS) shares shot up 2.4% on Monday . The stock traded as high as $4.83 and last traded at $4.78, with a volume of 6,196,746 shares traded. The stock had previously closed at $4.67.
Several research firms have recently weighed in on AKS. Rosenblatt Securities began coverage on shares of AK Steel Holding Corp. in a report on Monday. They issued a “buy” rating and a $6.00 price target on the stock. Citigroup Inc. assumed coverage on AK Steel Holding Corp. in a research note on Monday. They issued a “neutral” rating and a $5.40 target price on the stock. KeyCorp cut AK Steel Holding Corp. from a “sector weight” rating to an “underweight” rating and reduced their target price for the company from $5.15 to $4.00 in a research note on Friday. Zacks Investment Research cut AK Steel Holding Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 16th. Finally, Morgan Stanley reissued a “hold” rating on shares of AK Steel Holding Corp. in a research note on Tuesday, August 16th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $4.85.
The company’s market capitalization is $1.14 billion. The company has a 50 day moving average of $5.51 and a 200 day moving average of $4.38.
AK Steel Holding Corp. (NYSE:AKS) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.10. The company earned $1.49 billion during the quarter, compared to the consensus estimate of $1.53 billion. The business’s revenue was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.36) earnings per share. Equities research analysts anticipate that AK Steel Holding Corp. will post $0.32 EPS for the current fiscal year.
In other AK Steel Holding Corp. news, Director Vicente Wright sold 27,000 shares of AK Steel Holding Corp. stock in a transaction 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 filing with the SEC, which can be accessed through this link.
An institutional investor recently raised its position in AK Steel Holding Corp. stock. Schwab Charles Investment Management Inc. 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 Securities and Exchange Commission. The fund owned 554,750 shares of the company’s stock after buying an additional 14,442 shares during the period. Schwab Charles Investment Management Inc. owned about 0.31% of AK Steel Holding Corp. worth $1,243,000 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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