AK Steel Holding Corporation (AKS) is Initiated by Rosenblatt to Buy, Price Target at $6

AK Steel Holding Corporation (AKS) was Initiated by Rosenblatt to “Buy” and the brokerage firm has set the Price Target at $6. Rosenblatt advised their investors in a research report released on Aug 22, 2016.

Many Wall Street Analysts have commented on AK Steel Holding Corporation. Citigroup Initiated AK Steel Holding Corporation on Aug 22, 2016 to “Neutral”, Price Target of the shares are set at $5.40.AK Steel Holding Corporation was Downgraded by KeyBanc Capital Mkts to ” Underweight” on Aug 19, 2016. Company shares were Reiterated by Cowen on Jul 27, 2016 to “Market Perform”, Firm has raised the Price Target to $ 7 from a previous price target of $5 .

On the company’s financial health, AK Steel Holding Corporation reported $0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.00. The company had revenue of $1492.20 million for the quarter, compared to analysts expectations of $1535.67 million. The company’s revenue was down -11.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.36 EPS.

AK Steel Holding Corporation closed down -0.5 points or -9.67% at $4.67 with 2,22,66,345 shares getting traded on Friday. Post opening the session at $4.97, the shares hit an intraday low of $4.65 and an intraday high of $4.97 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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.

AK Steel Holding Corporation

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