Price Don’t Lie: What’s AK Steel Holding Corporation Downside After Today’s Big Decline?

Price Don't Lie: What's AK Steel Holding Corporation Downside After Today's Big Decline?

The stock of AK Steel Holding Corporation (NYSE:AKS) is a huge mover today! The stock decreased 2.23% or $0.11 during the last trading session, hitting $4.83. About 10.30 million shares traded hands. AK Steel Holding Corporation (NYSE:AKS) has risen 68.88% since February 29, 2016 and is uptrending. It has outperformed by 58.46% the S&P500.
The move comes after 5 months negative chart setup for the $1.11 billion company. It was reported on Oct, 1 by Barchart.com. We have $4.44 PT which if reached, will make NYSE:AKS worth $88.80M less.

Analysts await AK Steel Holding Corporation (NYSE:AKS) to report earnings on October, 25. They expect $0.11 EPS, up 175.00% or $0.07 from last year’s $0.04 per share. AKS’s profit will be $25.28 million for 10.98 P/E if the $0.11 EPS becomes a reality. After $0.08 actual EPS reported by AK Steel Holding Corporation for the previous quarter, Wall Street now forecasts 37.50% EPS growth.

AK Steel Holding Corporation (NYSE:AKS) Ratings Coverage

Out of 14 analysts covering AK Steel Holding Corporation (NYSE:AKS), 4 rate it a “Buy”, 2 “Sell”, while 8 “Hold”. This means 29% are positive. AK Steel Holding Corporation has been the topic of 29 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The rating was reinitiated by Jefferies on Wednesday, January 13 with “Hold”. As per Wednesday, March 9, the company rating was maintained by Nomura. Citigroup initiated the stock with “Neutral” rating in Monday, August 22 report. Bank of America downgraded the stock to “Neutral” rating in Tuesday, September 8 report. Jefferies maintained AK Steel Holding Corporation (NYSE:AKS) on Wednesday, July 27 with “Hold” rating. The stock of AK Steel Holding Corporation (NYSE:AKS) earned “Buy” rating by Deutsche Bank on Thursday, August 13. The company was upgraded on Wednesday, June 8 by Credit Suisse. Rosenblatt initiated the shares of AKS in a report on Monday, August 22 with “Buy” rating. The rating was upgraded by JP Morgan on Thursday, July 30 to “Overweight”. The company was maintained on Wednesday, July 13 by Barclays Capital.

According to Zacks Investment Research, “AK Steel produces flat-rolled carbon, stainless and electrical steel products, as well as carbon and stainless tubular steel products, for automotive, appliance, construction and manufacturing markets. AK Steel maintains a relentless pursuit of improvement in every critical performance measure. The result is a track record without equal.”

Insitutional Activity: The institutional sentiment increased to 3.34 in Q2 2016. Its up 1.83, from 1.51 in 2016Q1. The ratio is positive, as 16 funds sold all AK Steel Holding Corporation shares owned while 25 reduced positions. 45 funds bought stakes while 92 increased positions. They now own 302.64 million shares or 221.86% more from 94.03 million shares in 2016Q1.
Bnp Paribas Arbitrage reported 120,929 shares or 0% of all its holdings. Clinton Inc last reported 0.02% of its portfolio in the stock. Lpl Ltd Liability holds 42,610 shares or 0% of its portfolio. Barclays Plc holds 0% or 428,822 shares in its portfolio. Ls Invest Advsr Limited Liability Co holds 0% or 8,635 shares in its portfolio. Arizona State Retirement Sys has 123,709 shares for 0.01% of their US portfolio. Moreover, Dc Cap Advisors Limited has 2.73% invested in AK Steel Holding Corporation (NYSE:AKS) for 1.00 million shares. Cibc Asset Mngmt accumulated 0% or 16,517 shares. Moreover, Manufacturers Life Ins The has 0% invested in AK Steel Holding Corporation (NYSE:AKS) for 159,786 shares. Van Eck Associate Corp accumulated 0.01% or 338,252 shares. Fifth Third State Bank holds 0% of its portfolio in AK Steel Holding Corporation (NYSE:AKS) for 7,587 shares. The Missouri-based Kennedy Cap Mgmt has invested 0.02% in AK Steel Holding Corporation (NYSE:AKS). Truepoint, a Ohio-based fund reported 227,673 shares. Creative Planning accumulated 0.08% or 2.34 million shares. The Kentucky-based Teachers Retirement Systems Of The State Of Kentucky has invested 0% in AK Steel Holding Corporation (NYSE:AKS).

Insider Transactions: Since July 28, 2016, the stock had 0 buys, and 1 insider sale for $180,900 net activity. Another trade for 27,000 shares valued at $180,900 was made by WRIGHT VICENTE on Thursday, July 28.

AKS Company Profile

AK Steel Holding Corporation, incorporated on December 20, 1993, is an integrated producer of flat-rolled carbon, stainless and electrical steels and tubular products through its subsidiary, AK Steel Corporation (AK Steel). The Firm 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. These activities produce flat-rolled carbon, specialty stainless and electrical steels that it sells in sheet and strip form, and carbon and stainless steel that it finishes into welded steel tubing. The Firm also produces metallurgical coal through its subsidiary, AK Coal Resources, Inc. (AK Coal). In addition, the Company operates trading companies in Mexico and Europe that buy and sell steel and steel products and other materials.

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