AK Steel Holding Corp. (AKS) Stock Price Down 5.3%
Shares of AK Steel Holding Corp. (NYSE:AKS) traded down 5.3% during trading on Tuesday . The company traded as low as $5.72 and last traded at $5.72, with a volume of 8,478,015 shares traded. The stock had previously closed at $6.04.
A number of analysts recently commented on the stock. Zacks Investment Research cut shares of AK Steel Holding Corp. from a “buy” rating to a “hold” rating in a research note on Friday, April 29th. Jefferies Group reiterated a “hold” rating and issued a $4.25 target price on shares of AK Steel Holding Corp. in a research note on Friday, April 29th. Cowen and Company reiterated a “market perform” rating and issued a $5.00 target price (up from $3.00) on shares of AK Steel Holding Corp. in a research note on Wednesday, April 27th. Deutsche Bank AG reiterated a “sell” rating on shares of AK Steel Holding Corp. in a research note on Thursday, July 7th. Finally, TheStreet upgraded shares of AK Steel Holding Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, April 26th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. AK Steel Holding Corp. currently has an average rating of “Hold” and an average target price of $4.78.
The company’s market capitalization is $1.24 billion. The company has a 50 day moving average of $5.39 and a 200 day moving average of $4.19.
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 the Zacks’ consensus estimate of ($0.02) by $0.10. During the same period last year, the company earned ($0.36) earnings per share. The business earned $1.49 billion during the quarter, compared to analyst estimates of $1.53 billion. The business’s revenue for the quarter was down 11.7% compared to the same quarter last year. On average, equities research analysts expect that AK Steel Holding Corp. will post $0.32 earnings per share for the current year.
In other news, Director Vicente Wright sold 27,000 shares of the stock in a transaction that occurred 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 Securities & Exchange Commission, which can be accessed through this hyperlink.
An institutional investor recently raised its position in AK Steel Holding Corp. stock. Royce & Associates LLC boosted its stake in shares of AK Steel Holding Corp. (NYSE:AKS) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.
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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