Notable Price Action: A Reversal for AK Steel Holding Corporation Is Not Near. The Stock Rises Again

Notable Price Action: A Reversal for AK Steel Holding Corporation Is Not Near. The Stock Rises Again

The stock of AK Steel Holding Corporation (NYSE:AKS) is a huge mover today! About 3.72 million shares traded hands. AK Steel Holding Corporation (NYSE:AKS) has risen 28.53% since March 3, 2016 and is uptrending. It has outperformed by 20.19% the S&P500.
The move comes after 7 months positive chart setup for the $1.12B company. It was reported on Oct, 6 by We have $6.29 PT which if reached, will make NYSE:AKS worth $392.00 million more.

Analysts await AK Steel Holding Corporation (NYSE:AKS) to report earnings on October, 25. They expect $0.11 earnings per share, up 175.00% or $0.07 from last year’s $0.04 per share. AKS’s profit will be $26.44M for 10.59 P/E if the $0.11 EPS becomes a reality. After $0.08 actual earnings per share 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 30 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The stock of AK Steel Holding Corporation (NYSE:AKS) earned “Hold” rating by Jefferies on Wednesday, July 27. Barclays Capital maintained AK Steel Holding Corporation (NYSE:AKS) rating on Tuesday, January 12. Barclays Capital has “Equal-Weight” rating and $2 price target. The stock has “Outperform” rating given by Macquarie Research on Wednesday, April 27. The firm has “Hold” rating given on Thursday, September 10 by BB&T Capital. Citigroup initiated it with “Neutral” rating and $5.40 target price in Monday, August 22 report. The stock has “Sector Weight” rating given by KeyBanc Capital Markets on Monday, September 19. The firm earned “Outperform” rating on Wednesday, July 29 by Macquarie Research. UBS downgraded the shares of AKS in a report on Friday, April 8 to “Sell” rating. KeyBanc Capital Markets downgraded the stock to “Underweight” rating in Friday, August 19 report. The stock of AK Steel Holding Corporation (NYSE:AKS) has “Buy” rating given on Thursday, August 13 by Deutsche Bank.

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 improved, 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.
Alliancebernstein L P reported 290,620 shares or 0% of all its holdings. The Florida-based Raymond James Fincl Services Incorporated has invested 0% in AK Steel Holding Corporation (NYSE:AKS). Millennium Mgmt Lc reported 2.83 million shares or 0.03% of all its holdings. Blb&B Advsr Limited Liability Co accumulated 0.01% or 15,382 shares. Private Financial Bank And Company holds 0.02% or 25,000 shares in its portfolio. Anchor Bolt Ltd Partnership has invested 0.74% of its portfolio in AK Steel Holding Corporation (NYSE:AKS). Old Mutual Invsts (Uk) Ltd has 0.27% invested in the company for 3.08M shares. Caxton L P accumulated 2.14M shares or 0.27% of the stock. World Asset Mgmt Incorporated holds 0% or 12,058 shares in its portfolio. Blackrock Fund Advsr last reported 15.28 million shares in the company. Teacher Retirement Of Texas reported 31,744 shares or 0% of all its holdings. Canada Pension Plan Investment Board holds 0.02% or 894,700 shares in its portfolio. Van Hulzen Asset Mgmt Lc accumulated 14,425 shares or 0.04% of the stock. Comerica Financial Bank has invested 0.01% of its portfolio in AK Steel Holding Corporation (NYSE:AKS). Hbk Invs L P, a Texas-based fund reported 1.23 million shares.

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

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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