Today’s Price Action: What Next for AK Steel Holding Corporation Stock After Today’s Big Increase?

Today's Price Action: What Next for AK Steel Holding Corporation Stock After Today's Big Increase?

The stock of AK Steel Holding Corporation (NYSE:AKS) is a huge mover today! The stock increased 6.64% or $0.34 during the last trading session, hitting $5.46. About 26.63 million shares traded hands or 58.32% up from the average. AK Steel Holding Corporation (NYSE:AKS) has risen 22.20% since April 1, 2016 and is uptrending. It has outperformed by 20.98% the S&P500.
The move comes after 8 months positive chart setup for the $1.71 billion company. It was reported on Nov, 3 by Barchart.com. We have $6.93 PT which if reached, will make NYSE:AKS worth $461.70M more.

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. AK Steel Holding Corporation has been the topic of 34 analyst reports since July 29, 2015 according to StockzIntelligence Inc. Jefferies upgraded the stock to “Buy” rating in Friday, October 28 report. The rating was maintained by Nomura with “Neutral” on Wednesday, March 9. The firm has “Hold” rating given on Wednesday, January 13 by Jefferies. The stock of AK Steel Holding Corporation (NYSE:AKS) earned “Market Perform” rating by Cowen & Co on Wednesday, July 27. As per Tuesday, September 8, the company rating was downgraded by Bank of America. The rating was maintained by Cowen & Co with “Market Perform” on Wednesday, October 26. The rating was maintained by Barclays Capital on Wednesday, July 13 with “Equalweight”. The rating was upgraded by Bank of America on Wednesday, October 26 to “Buy”. Cowen & Co maintained the shares of AKS in a report on Thursday, October 29 with “Market Perform” rating. Credit Suisse maintained it with “Underperform” rating and $3.50 target price in Wednesday, March 23 report.

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.
Teachers Retirement Sys Of The State Of Kentucky reported 63,300 shares or 0% of all its holdings. Pinnacle Limited Liability Company accumulated 3,000 shares or 0% of the stock. Clarivest Asset Mngmt Lc last reported 61,508 shares in the company. Moreover, Susquehanna Int Gru Inc Ltd Liability Partnership has 0% invested in AK Steel Holding Corporation (NYSE:AKS) for 103,357 shares. Royal National Bank Of Canada reported 100,681 shares or 0% of all its holdings. Commonwealth Equity Service last reported 13,648 shares in the company. Ubs Asset Management Americas, a Illinois-based fund reported 151,864 shares. Two Sigma Secs Limited Company accumulated 10,650 shares or 0.03% of the stock. Renaissance Limited Liability Co accumulated 0.04% or 4.19M shares. Raymond James Assoc owns 30,628 shares or 0% of their US portfolio. Teacher Retirement Of Texas last reported 0% of its portfolio in the stock. National Bank Of Montreal Can reported 8,804 shares or 0% of all its holdings. Moreover, Group Incorporated One Trading Lp has 0.03% invested in AK Steel Holding Corporation (NYSE:AKS) for 494,863 shares. Moreover, Us Fincl Bank De has 0% invested in AK Steel Holding Corporation (NYSE:AKS) for 1,506 shares. Numeric Invsts Limited Liability Corp accumulated 0.01% or 356,300 shares.

Insider Transactions: Since July 28, 2016, the stock had 0 insider purchases, and 1 sale for $180,900 net activity. Shares for $180,900 were sold by WRIGHT VICENTE on Thursday, July 28.

More recent AK Steel Holding Corporation (NYSE:AKS) news were published by: Benzinga.com which released: “Mid-Day Market Update: Inteliquent Jumps On Acquisition News; Fitbit Shares Slide” on November 03, 2016. Also Reuters.com published the news titled: “BRIEF-AK Steel Holding Corp Q3 earnings per share $0.21” on October 25, 2016. Nasdaq.com‘s news article titled: “AK Steel Holding Corp. Q3 Earnings Climb 660%” with publication date: October 25, 2016 was also an interesting one.

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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