The stock of AK Steel Holding Corporation (NYSE:AKS) hit a new 52-week high and has $9.61 target or 5.00% above today’s $9.15 share price. The 6 months bullish chart indicates low risk for the $2.93 billion company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $9.61 price target is reached, the company will be worth $146.50M 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 13.04M shares traded hands. AK Steel Holding Corporation (NYSE:AKS) has risen 107.05% since April 25, 2016 and is uptrending. It has outperformed by 101.03% the S&P500.
Analysts await AK Steel Holding Corporation (NYSE:AKS) to report earnings on January, 24. They expect $0.07 earnings per share, down 76.67% or $0.23 from last year’s $0.3 per share. AKS’s profit will be $22.42 million for 32.68 P/E if the $0.07 EPS becomes a reality. After $0.21 actual earnings per share reported by AK Steel Holding Corporation for the previous quarter, Wall Street now forecasts -66.67% negative EPS growth.
AK Steel Holding Corporation (NYSE:AKS) Ratings Coverage
Out of 15 analysts covering AK Steel Holding Corporation (NYSE:AKS), 7 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 47% are positive. $8 is the highest target while $2 is the lowest. The $5.26 average target is -42.51% below today’s ($9.15) stock price. AK Steel Holding Corporation has been the topic of 35 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The stock of AK Steel Holding Corporation (NYSE:AKS) earned “Hold” rating by Jefferies on Wednesday, January 13. The company was upgraded on Wednesday, June 8 by Credit Suisse. Morgan Stanley upgraded the shares of AKS in a report on Monday, November 14 to “Overweight” rating. The stock of AK Steel Holding Corporation (NYSE:AKS) earned “Outperform” rating by Macquarie Research on Wednesday, July 29. The stock has “Underperform” rating given by Bank of America on Monday, October 26. JP Morgan upgraded the shares of AKS in a report on Thursday, July 30 to “Overweight” rating. Jefferies upgraded the shares of AKS in a report on Friday, October 28 to “Buy” rating. The company was maintained on Wednesday, March 9 by Nomura. The rating was maintained by Deutsche Bank with “Hold” on Friday, October 28. The stock of AK Steel Holding Corporation (NYSE:AKS) earned “Neutral” rating by Bank of America on Tuesday, September 8.
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 decreased to 1.18 in 2016 Q2. Its down 2.16, from 3.34 in 2016Q1. The ratio worsened, 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.
Focused Wealth Mgmt owns 48,034 shares or 0.1% of their US portfolio. Public Sector Pension Inv Board holds 0.01% or 168,650 shares in its portfolio. Valley Natl Advisers holds 1,000 shares or 0% of its portfolio. Jpmorgan Chase Company owns 1.07 million shares or 0% of their US portfolio. Citadel Advsrs Llc has invested 0.02% of its portfolio in AK Steel Holding Corporation (NYSE:AKS). Da Davidson And has invested 0% of its portfolio in AK Steel Holding Corporation (NYSE:AKS). Kbc Nv, a Belgium-based fund reported 149,161 shares. Tiaa Cref Investment Mgmt Ltd Co owns 2.88M shares or 0.01% of their US portfolio. Proshare Advsr Ltd Company has invested 0% of its portfolio in AK Steel Holding Corporation (NYSE:AKS). Profund Limited Company last reported 54,372 shares in the company. Blb&B Advsrs Limited Liability Corporation, a Pennsylvania-based fund reported 15,382 shares. Truepoint has 227,673 shares for 0.14% of their US portfolio. The New Jersey-based Kcg Incorporated has invested 0.02% in AK Steel Holding Corporation (NYSE:AKS). Martingale Asset Limited Partnership owns 139,519 shares or 0.01% of their US portfolio. Guggenheim Lc holds 0% of its portfolio in AK Steel Holding Corporation (NYSE:AKS) for 20,974 shares.
Insider Transactions: Since July 28, 2016, the stock had 0 insider purchases, 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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