AK Steel Holding Corp. (AKS) Trading Down 3.3%
AK Steel Holding Corp. (NYSE:AKS)’s share price traded down 3.3% during mid-day trading on Wednesday . The stock traded as low as $5.04 and last traded at $5.05, with a volume of 4,860,404 shares traded. The stock had previously closed at $5.22.
Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded AK Steel Holding Corp. from a “hold” rating to a “buy” rating and set a $4.50 price objective on the stock in a research note on Tuesday, June 28th. Bank of America Corp. restated a “sell” rating on shares of AK Steel Holding Corp. in a research note on Thursday, June 16th. Macquarie restated an “outperform” rating and set a $5.50 price objective (up from $4.80) on shares of AK Steel Holding Corp. in a research note on Wednesday, April 27th. Credit Suisse Group AG upgraded AK Steel Holding Corp. from an “underperform” rating to an “outperform” rating and raised their price objective for the stock from $3.50 to $7.00 in a research note on Wednesday, June 8th. Finally, TheStreet upgraded AK Steel Holding Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, April 26th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $4.78.
The stock has a 50-day moving average price of $5.49 and a 200-day moving average price of $4.31. The stock’s market cap is $1.22 billion.
AK Steel Holding Corp. (NYSE:AKS) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.10. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the business posted ($0.36) EPS. AK Steel Holding Corp.’s revenue for the quarter was down 11.7% compared to the same quarter last year. On average, equities research analysts anticipate 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 business’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 sale was disclosed in a document filed with the SEC, which is accessible through this link.
A hedge fund recently raised its stake in AK Steel Holding Corp. stock. Royce & Associates LLC increased its stake in shares of AK Steel Holding Corp. (NYSE:AKS) by 2.7% during the fourth quarter, according to its most recent 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 about 0.98% of AK Steel Holding Corp. worth $3,888,000 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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