AK Steel Holding Corp. (AKS) Sees Strong Trading Volume
AK Steel Holding Corp. (NYSE:AKS) shares saw unusually-strong trading volume on Friday . Approximately 14,930,889 shares were traded during mid-day trading, an increase of 3% from the previous session’s volume of 14,484,758 shares.The stock last traded at $4.71 and had previously closed at $5.17.
Several equities analysts have recently commented on AKS shares. Cowen and Company reaffirmed a “market perform” rating and issued a $5.00 target price (up previously from $3.00) on shares of AK Steel Holding Corp. in a research report on Wednesday, April 27th. Macquarie reaffirmed an “outperform” rating and issued a $5.50 target price (up previously from $4.80) on shares of AK Steel Holding Corp. in a research report on Wednesday, April 27th. TheStreet raised AK Steel Holding Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, April 26th. Jefferies Group reissued a “hold” rating and set a $4.25 price target on shares of AK Steel Holding Corp. in a research report on Friday, April 29th. Finally, Zacks Investment Research downgraded AK Steel Holding Corp. from a “buy” rating to a “hold” rating in a research report on Friday, April 29th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. AK Steel Holding Corp. currently has a consensus rating of “Hold” and a consensus target price of $4.72.
The stock’s market capitalization is $1.11 billion. The company’s 50-day moving average price is $5.52 and its 200 day moving average price is $4.34.
AK Steel Holding Corp. (NYSE:AKS) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.10. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.53 billion. The firm’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.36) earnings per share. On average, equities analysts predict that AK Steel Holding Corp. will post $0.32 earnings per share for the current fiscal year.
In other news, Director Vicente Wright sold 27,000 shares of the business’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $6.70, for a total transaction of $180,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
An institutional investor recently raised its position in AK Steel Holding Corp. stock. Royce & Associates LLC raised its stake in AK Steel Holding Corp. (NYSE:AKS) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 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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