Trading Report: The AK Steel Holding Corp. (AKS) Decreased to Strong Sell at Vetr Inc.

The AK Steel Holding Corp. (AKS) Decreased to Strong Sell at Vetr Inc.

Vetr lowered shares of AK Steel Holding Corp. (NYSE:AKS) from a sell rating to a strong sell rating in a research note issued to investors on Tuesday morning. The firm currently has $7.45 price objective on the stock.

A number of other analysts have also commented on the stock. Zacks Investment Research upgraded shares of AK Steel Holding Corp. from a hold rating to a buy rating and set a $5.25 price target for the company in a research note on Wednesday, October 19th. KeyCorp lowered shares of AK Steel Holding Corp. from a sector weight rating to an underweight rating and reduced their price target for the stock from $5.15 to $4.00 in a research note on Friday, August 19th. Morgan Stanley upgraded shares of AK Steel Holding Corp. from an equal weight rating to an overweight rating in a research note on Monday, November 14th. Deutsche Bank AG upgraded shares of AK Steel Holding Corp. from a sell rating to a hold rating and lifted their price target for the stock from $1.64 to $4.83 in a research note on Monday, October 3rd. Finally, Cowen and Company lifted their price target on shares of AK Steel Holding Corp. from $7.00 to $8.00 and gave the stock a market perform rating in a research note on Wednesday, October 26th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $6.46.

Shares of AK Steel Holding Corp. (NYSE:AKS) opened at 9.40 on Tuesday. The firm has a 50-day moving average of $6.13 and a 200 day moving average of $5.12. AK Steel Holding Corp. has a 1-year low of $1.64 and a 1-year high of $9.45. The stock’s market capitalization is $2.24 billion.

AK Steel Holding Corp. (NYSE:AKS) last issued its earnings results on Tuesday, October 25th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.08. The business earned $1.45 billion during the quarter, compared to analysts’ expectations of $1.47 billion. AK Steel Holding Corp. had a negative net margin of 1.54% and a negative return on equity of 24.32%. During the same period in the previous year, the company earned $0.04 earnings per share. The business’s revenue for the quarter was down 15.0% compared to the same quarter last year. Analysts predict that AK Steel Holding Corp. will post $0.31 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in AKS. TIAA CREF Investment Management LLC increased its position in AK Steel Holding Corp. by 68.7% in the first quarter. TIAA CREF Investment Management LLC now owns 801,885 shares of the company’s stock valued at $3,312,000 after buying an additional 326,668 shares during the period. BlackRock Inc. increased its stake in AK Steel Holding Corp. by 61.5% in the first quarter. BlackRock Inc. now owns 24,495 shares of the company’s stock worth $101,000 after buying an additional 9,327 shares during the last quarter. BlackRock Group LTD increased its stake in AK Steel Holding Corp. by 6.8% in the first quarter. BlackRock Group LTD now owns 230,615 shares of the company’s stock worth $952,000 after buying an additional 14,775 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in AK Steel Holding Corp. by 1.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,539,612 shares of the company’s stock worth $18,749,000 after buying an additional 52,644 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in AK Steel Holding Corp. by 1,436.2% in the first quarter. JPMorgan Chase & Co. now owns 353,550 shares of the company’s stock worth $1,460,000 after buying an additional 330,536 shares during the last quarter. 56.63% of the stock is currently owned by hedge funds and other institutional investors.

About AK Steel Holding Corp.

AK Steel Holding Corporation is an integrated producer of flat-rolled carbon, stainless and electrical steels and tubular products through its subsidiary, AK Steel Corporation (AK Steel). The Company 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.

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