AK Steel Holding Corp. (AKS) Trading Up 6.6%
Shares of AK Steel Holding Corp. (NYSE:AKS) rose 6.6% during trading on Monday . The stock traded as high as $5.41 and last traded at $5.36, with a volume of 5,577,983 shares. The stock had previously closed at $5.03.
AKS has been the topic of several research analyst reports. Jefferies Group restated a “hold” rating and set a $4.25 target price on shares of AK Steel Holding Corp. in a report on Friday, April 29th. Barclays PLC increased their target price on AK Steel Holding Corp. from $5.00 to $6.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 3rd. Cowen and Company restated a “market perform” rating and set a $5.00 target price (up previously from $3.00) on shares of AK Steel Holding Corp. in a report on Wednesday, April 27th. JPMorgan Chase & Co. increased their target price on AK Steel Holding Corp. from $6.00 to $8.50 and gave the stock an “overweight” rating in a report on Wednesday, July 27th. Finally, Zacks Investment Research cut AK Steel Holding Corp. from a “buy” rating to a “hold” rating in a report on Friday, April 29th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. AK Steel Holding Corp. presently has a consensus rating of “Hold” and a consensus target price of $4.78.
The firm’s market cap is $1.27 billion. The company has a 50 day moving average price of $5.41 and a 200-day moving average price of $4.22.
AK Steel Holding Corp. (NYSE:AKS) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.10. During the same period last year, the company earned ($0.36) earnings per share. The company earned $1.49 billion during the quarter, compared to analysts’ expectations 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 forecast that AK Steel Holding Corp. will post $0.32 EPS for the current year.
In related 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 transaction of $180,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
A hedge fund recently raised its stake 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 (SEC). The firm 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 at the end of the most recent reporting period.
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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