AK Steel Holding Corp. (AKS) Trading Up 8.9%
AK Steel Holding Corp. (NYSE:AKS) was up 8.9% on Tuesday . The company traded as high as $5.41 and last traded at $5.38, with a volume of 9,342,454 shares trading hands. The stock had previously closed at $4.94.
A number of equities research analysts have recently weighed in on AKS shares. Zacks Investment Research lowered shares of AK Steel Holding Corp. from a “buy” rating to a “hold” rating in a research note on Monday, March 14th. Bank of America Corp. reaffirmed an “underperform” rating on shares of AK Steel Holding Corp. in a research note on Thursday, March 17th. Jefferies Group lifted their target price on shares of AK Steel Holding Corp. from $2.00 to $4.25 and gave the company a “hold” rating in a research note on Monday, March 21st. Credit Suisse Group AG lifted their target price on shares of AK Steel Holding Corp. from $2.00 to $3.50 and gave the company an “underperform” rating in a research note on Wednesday, March 23rd. Finally, Deutsche Bank AG lifted their target price on shares of AK Steel Holding Corp. from $1.00 to $2.00 and gave the company a “sell” rating in a research note on Wednesday, March 23rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $4.03.
The firm’s 50-day moving average is $4.58 and its 200-day moving average is $3.64. The company’s market capitalization is $968.55 million.
AK Steel Holding Corp. (NYSE:AKS) last posted its quarterly earnings results on Tuesday, April 26th. The company reported ($0.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.03. The company earned $1.52 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the company posted ($0.28) earnings per share. The company’s revenue for the quarter was down 13.2% on a year-over-year basis. Equities analysts anticipate that AK Steel Holding Corp. will post $0.21 EPS for the current fiscal year.
A hedge fund recently raised its stake in AK Steel Holding Corp. stock. Commerzbank Aktiengesellschaft FI increased its stake in shares of AK Steel Holding Corp. (NYSE:AKS) by 47.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,722,992 shares of the company’s stock after buying an additional 553,780 shares during the period. Commerzbank Aktiengesellschaft FI owned 0.97% of AK Steel Holding Corp. worth $3,860,000 at the end of the most recent quarter.
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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