Today’s Rating Change: Is AK Steel (AKS) a Stock to Sell After Macquarie Downgrade?

November 29, 2016 - By whatsonthorold

Today's Rating Change: Is AK Steel (AKS) a Stock to Sell After Macquarie Downgrade?

AK Steel (AKS) Downgrade

Macquarie has downgraded AK Steel (AKS) stock to Neutral in a a research note revealed to clients on Tuesday, 29 November. AKS’s old rating was Outperform.

AK Steel Holding Corporation (NYSE:AKS) Ratings Coverage

Out of 8 analysts covering AK Steel (AKS), 4 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 50% are positive. $8.0 is the highest target while $5.4 is the lowest. The $6.47 average target is -29.13% below today’s ($9.13) stock price. AK Steel has been the topic of 8 analyst reports since August 19, 2016 according to StockzIntelligence Inc. The stock has “Market Perform” rating given by Cowen & Co on Wednesday, October 26. The firm has “Neutral” rating given on Monday, August 22 by Citigroup. The stock of AK Steel Holding Corporation (NYSE:AKS) earned “Buy” rating by Jefferies on Friday, October 28. On Monday, October 3 the stock rating was upgraded by Deutsche Bank to “Hold”. The rating was initiated by Rosenblatt with “Buy” on Monday, August 22. As per Wednesday, October 26, the company rating was upgraded by Bank of America. As per Monday, November 14, the company rating was upgraded by Morgan Stanley. The firm has “Underweight” rating by KeyBanc Capital Markets given on Friday, August 19.

About 13.07 million shares traded hands. AK Steel Holding Corporation (AKS) has risen 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 EPS, down 76.67% or $0.23 from last year’s $0.3 per share. AKS’s profit will be $21.24 million for 32.61 P/E if the $0.07 EPS becomes a reality. After $0.21 actual EPS 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 fall, 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.

Nuveen Asset Mgmt Ltd Company has invested 0% of its portfolio in AK Steel Holding Corporation (NYSE:AKS). Pacad Investment accumulated 0.17% or 256,045 shares. Joel Isaacson And Commerce Ltd holds 0% of its portfolio in AK Steel Holding Corporation (NYSE:AKS) for 14 shares. National Bank Of America De last reported 2.00M shares in the company. Alliancebernstein Limited Partnership reported 290,620 shares or 0% of all its holdings. The Georgia-based Invesco Ltd has invested 0% in AK Steel Holding Corporation (NYSE:AKS). Huntington State Bank has invested 0% of its portfolio in AK Steel Holding Corporation (NYSE:AKS). Credit Suisse Ag owns 955,730 shares or 0% of their US portfolio. Moreover, Stevens Cap Mgmt Limited Partnership has 0.01% invested in AK Steel Holding Corporation (NYSE:AKS) for 62,320 shares. Moreover, Clinton Gru has 0.02% invested in AK Steel Holding Corporation (NYSE:AKS) for 95,787 shares. Blackrock Mngmt Ltd Liability Corporation, a New Jersey-based fund reported 1.08 million shares. California Pub Employees Retirement Systems accumulated 799,608 shares or 0.01% of the stock. Lucus Advsr Ltd has invested 0.3% of its portfolio in AK Steel Holding Corporation (NYSE:AKS). Susquehanna Intll Grp Limited Liability Partnership has 103,357 shares for 0% of their US portfolio. The California-based Eam Investors Lc has invested 0.48% in AK Steel Holding Corporation (NYSE:AKS).

Insider Transactions: Since July 28, 2016, the stock had 0 buys, and 1 insider sale for $180,900 net activity. WRIGHT VICENTE sold $180,900 worth of stock.

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 $2.77 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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

By

Tags: , ,

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our FREE daily email newsletter:


Recent Market News

>