AK Steel Holding Corp. (AKS) Shares Down 4.7%
AK Steel Holding Corp. (NYSE:AKS) shares fell 4.7% during trading on Tuesday . The stock traded as low as $4.45 and last traded at $4.47, with a volume of 6,157,214 shares. The stock had previously closed at $4.69.
AKS has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of AK Steel Holding Corp. from $6.00 to $8.50 and gave the company an “overweight” rating in a research report on Wednesday, July 27th. Jefferies Group raised their target price on shares of AK Steel Holding Corp. from $5.00 to $5.50 and gave the company a “hold” rating in a research report on Wednesday, July 27th. Cowen and Company raised their target price on shares of AK Steel Holding Corp. from $5.00 to $7.00 and gave the company a “market perform” rating in a research report on Wednesday, July 27th. Barclays PLC raised their target price on shares of AK Steel Holding Corp. from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 3rd. Finally, Zacks Investment Research downgraded shares of AK Steel Holding Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, August 16th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. AK Steel Holding Corp. has a consensus rating of “Hold” and a consensus price target of $5.11.
The firm’s market capitalization is $1.06 billion. The company’s 50 day moving average is $5.49 and its 200 day moving average is $4.47.
AK Steel Holding Corp. (NYSE:AKS) last released its earnings results on Tuesday, July 26th. The company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.10. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the company posted ($0.36) earnings per share. The firm’s quarterly revenue was down 11.7% on a year-over-year basis. On average, equities analysts predict that AK Steel Holding Corp. will post $0.32 earnings per share for the current year.
In related 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 transaction of $180,900.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
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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