Stock of The Day: Is Buying AK Steel Holding Corporation Here a Winning Strategy?

Stock of The Day: Is Buying AK Steel Holding Corporation Here a Winning Strategy?

The stock of AK Steel Holding Corporation (NYSE:AKS) hit a new 52-week high and has $8.98 target or 25.00% above today’s $7.18 share price. The 7 months bullish chart indicates low risk for the $2.56B company. The 1-year high was reported on Nov, 10 by Barchart.com. If the $8.98 price target is reached, the company will be worth $640.00 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 4.79M shares traded hands. AK Steel Holding Corporation (NYSE:AKS) has risen 68.54% since April 8, 2016 and is uptrending. It has outperformed by 62.89% the S&P500.

AK Steel Holding Corporation (NYSE:AKS) Ratings Coverage

Out of 14 analysts covering AK Steel Holding Corporation (NYSE:AKS), 6 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 43% are positive. $8 is the highest target while $2 is the lowest. The $5.26 average target is -26.74% below today’s ($7.18) stock price. AK Steel Holding Corporation has been the topic of 34 analyst reports since July 29, 2015 according to StockzIntelligence Inc. Cowen & Co maintained it with “Market Perform” rating and $7 target price in Wednesday, July 27 report. The firm earned “Underweight” rating on Friday, August 19 by KeyBanc Capital Markets. The firm earned “Buy” rating on Wednesday, October 26 by Bank of America. Bank of America downgraded the stock to “Neutral” rating in Tuesday, September 8 report. Jefferies maintained the stock with “Hold” rating in Wednesday, July 27 report. The firm earned “Hold” rating on Thursday, September 10 by BB&T Capital. The stock has “Buy” rating given by Rosenblatt on Monday, August 22. The rating was maintained by Cowen & Co with “Market Perform” on Thursday, October 29. The company was downgraded on Monday, October 26 by Bank of America. The stock has “Overweight” rating given by JP Morgan on Thursday, July 30.

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 2016 Q2. 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.
Wolverine Asset Mngmt Llc last reported 0.05% of its portfolio in the stock. First National Bank Na has 0.01% invested in the company for 10,290 shares. State Of Tennessee Treasury Department last reported 184,766 shares in the company. Blackrock Management Lc last reported 0.01% of its portfolio in the stock. Joel Isaacson Limited holds 0% of its portfolio in AK Steel Holding Corporation (NYSE:AKS) for 14 shares. Metropolitan Life Com Ny last reported 0.01% of its portfolio in the stock. Wells Fargo & Mn accumulated 0% or 243,916 shares. Moors Cabot holds 0.01% or 10,300 shares in its portfolio. Moreover, Jacobs Levy Equity Mgmt Incorporated has 0.04% invested in AK Steel Holding Corporation (NYSE:AKS) for 398,874 shares. Teachers Retirement System Of The State Of Kentucky last reported 63,300 shares in the company. Royal Commercial Bank Of Canada, a Ontario – Canada-based fund reported 100,681 shares. Eam Ltd has invested 0.48% of its portfolio in AK Steel Holding Corporation (NYSE:AKS). Hbk Invests Lp accumulated 0.05% or 1.23 million shares. Aqr Cap Mngmt Limited Liability Corporation holds 462,826 shares or 0% of its portfolio. Numeric Ltd Liability owns 356,300 shares or 0.01% of their US portfolio.

Insider Transactions: Since July 28, 2016, the stock had 0 buys, and 1 insider sale for $180,900 net activity. Shares for $180,900 were 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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