AK Steel Holding Corp. (AKS) Shares Down 4.7%
Shares of AK Steel Holding Corp. (NYSE:AKS) dropped 4.7% during trading on Tuesday . The company 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.
Several brokerages recently commented on AKS. Zacks Investment Research raised AK Steel Holding Corp. from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a report on Tuesday, June 28th. Rosenblatt Securities began coverage on AK Steel Holding Corp. in a report on Monday, August 22nd. They issued a “buy” rating and a $6.00 price objective for the company. Barclays PLC lifted their price objective on AK Steel Holding Corp. from $4.00 to $5.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 12th. Morgan Stanley reaffirmed a “hold” rating on shares of AK Steel Holding Corp. in a report on Tuesday, August 16th. Finally, Jefferies Group lifted their target price on AK Steel Holding Corp. from $4.25 to $5.00 and gave the company a “hold” rating in a research report on Friday, June 10th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $5.11.
The company has a 50 day moving average price of $5.45 and a 200-day moving average price of $4.49. The stock’s market cap is $1.03 billion.
AK Steel Holding Corp. (NYSE:AKS) last released its earnings results on Tuesday, July 26th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.10. During the same period in the previous year, the company earned ($0.36) earnings per share. The firm earned $1.49 billion during the quarter, compared to analyst estimates of $1.53 billion. AK Steel Holding Corp.’s revenue was down 11.7% on a year-over-year basis. Analysts anticipate that AK Steel Holding Corp. will post $0.32 EPS for the current fiscal year.
In related news, Director Vicente Wright sold 27,000 shares of the company’s stock in a transaction 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 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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