Rating of The Day: Macquarie Cuts AK Steel Holding (NYSE:AKS) To Neutral

November 29, 2016 - By whatsonthorold

Rating of The Day: Macquarie Cuts AK Steel Holding (NYSE:AKS) To Neutral

AK Steel Holding (NYSE:AKS) Downgrade

Macquarie has downgraded AK Steel Holding (NYSE:AKS) stock to Neutral in a analysts report sent to investors and clients on Tuesday morning. AKS’s old rating was Outperform.

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 -42.20% below today’s ($9.1) stock price. AK Steel Holding Corporation has been the topic of 35 analyst reports since July 29, 2015 according to StockzIntelligence Inc. Jefferies maintained AK Steel Holding Corporation (NYSE:AKS) on Wednesday, September 16 with “Hold” rating. The stock of AK Steel Holding Corporation (NYSE:AKS) earned “Underweight” rating by KeyBanc Capital Markets on Friday, August 19. The stock has “Buy” rating given by Rosenblatt on Monday, August 22. The firm earned “Underperform” rating on Monday, October 26 by Bank of America. The rating was maintained by Deutsche Bank with “Hold” on Friday, October 28. UBS downgraded the shares of AKS in a report on Friday, April 8 to “Sell” rating. Morgan Stanley upgraded the stock to “Overweight” rating in Monday, November 14 report. Cowen & Co maintained it with “Market Perform” rating and $3 target price in Thursday, October 29 report. The firm has “Underperform” rating by Credit Suisse given on Wednesday, March 23. Deutsche Bank maintained AK Steel Holding Corporation (NYSE:AKS) rating on Thursday, August 13. Deutsche Bank has “Buy” rating and $6 price target.

It is down 92.80% since April 26, 2016 and is uptrending. It has outperformed by 87.54% 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 $21.23M for 32.50 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.

Insitutional Activity: The institutional sentiment decreased to 1.18 in Q2 2016. Its down 2.16, from 3.34 in 2016Q1. The ratio dropped, 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.

Bridgeway Cap Mgmt Inc owns 583,400 shares or 0.04% of their US portfolio. Commonwealth Equity Serv has 13,648 shares for 0% of their US portfolio. Teacher Retirement System Of Texas accumulated 0% or 31,744 shares. Creative Planning holds 0.08% of its portfolio in AK Steel Holding Corporation (NYSE:AKS) for 2.34M shares. Walleye Trading last reported 126,776 shares in the company. Kbc Gru Nv last reported 0.01% of its portfolio in the stock. Shoker Counsel has invested 0.04% of its portfolio in AK Steel Holding Corporation (NYSE:AKS). Moreover, Geode Limited Co has 0% invested in AK Steel Holding Corporation (NYSE:AKS) for 1.57 million shares. Us National Bank & Trust De last reported 1,506 shares in the company. Citigroup holds 0% or 29,129 shares in its portfolio. Marshall Wace Ltd Liability Partnership last reported 0.03% of its portfolio in the stock. Hrt Financial Ltd last reported 0.1% of its portfolio in the stock. World Asset Mgmt last reported 12,058 shares in the company. Springbok Cap Ltd Liability Corp reported 22,478 shares or 0.01% of all its holdings. Sg Americas Lc accumulated 0% or 35,115 shares.

Insider Transactions: Since July 28, 2016, the stock had 0 insider buys, and 1 sale for $180,900 net activity. 27,000 AK Steel Holding Corporation (NYSE:AKS) shares with value of $180,900 were sold by WRIGHT VICENTE.

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 . The company has a market cap of $2.76 billion. 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. It currently has negative earnings. 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.

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.”

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.

Another recent and important AK Steel Holding Corporation (NYSE:AKS) news was published by 247Wallst.com which published an article titled: “Top Analyst Upgrades and Downgrades: AK Steel, Celgene, Darden, Delphi …” on November 29, 2016.

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