AK Steel Holding Corporation (AKS) was Downgraded by Macquarie to ” Neutral”. Earlier the firm had a rating of “Outperform ” on the company shares. Macquarie advised their investors in a research report released on Nov 29, 2016.
Many Wall Street Analysts have commented on AK Steel Holding Corporation. AK Steel Holding Corporation was Upgraded by Morgan Stanley to ” Overweight” on Nov 14, 2016. Company shares were Reiterated by Deutsche Bank on Oct 28, 2016 to “Hold”, Firm has raised the Price Target to $ 6 from a previous price target of $4 .AK Steel Holding Corporation was Upgraded by Jefferies to ” Buy” on Oct 28, 2016.
On the company’s financial health, AK Steel Holding Corporation reported $0.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Oct 25, 2016. Analyst had a consensus of $0.13. The company had revenue of $1452.90 million for the quarter, compared to analysts expectations of $1479.15 million. The company’s revenue was down -15.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.04 EPS.
AK Steel Holding Corporation opened for trading at $9.24 and hit $9.45 on the upside on Friday, eventually ending the session at $9.4, with a gain of 2.40% or 0.22 points. The heightened volatility saw the trading volume jump to 1,12,72,083 shares. Company has a market cap of $2,942 M.
In a different news, on Jul 29, 2016, Vicente Wright (director) sold 27,000 shares at $6.70 per share price. According to the SEC, on Aug 3, 2015, Roger K Newport (CFO) purchased 5,000 shares at $3.12 per share price. On Aug 3, 2015, Gregory A Hoffbauer (Controller & Chief Acct. Off.) purchased 2,200 shares at $3.35 per share price, according to the Form-4 filing with the securities and exchange commission.
AK Steel Holding Corporation (AK Holding) is an integrated producer of flat-rolled carbon stainless and electrical steels and tubular products through its wholly-owned subsidiary AK Steel Corporation (AK Steel and together with AK Holding the Company). The operations of the Company and its wholly owned subsidiaries consist primarily of eight steelmaking and finishing plants two coke plants and two tube manufacturing plants across six states which include Indiana Kentucky Michigan Ohio Pennsylvania and West Virginia. These operations produce flat-rolled carbon steels including coated cold-rolled and hot-rolled carbon steel products and specialty stainless and electrical steels that are sold in sheet and strip form as well as carbon and stainless steel that is finished into welded steel tubing. These products are sold to the automotive infrastructure and manufacturing and distributors and converters markets.