Today’s Rating Change: Is AK Steel (NYSE:AKS) a Sell? How Analyst Rate it? Why Macquarie Downgraded The Stock

November 29, 2016 - By Peter Kolinski

Today's Rating Change: Is AK Steel (NYSE:AKS) a Sell? How Analyst Rate it? Why Macquarie Downgraded The Stock

AK Steel (NYSE:AKS) Downgrade

In a an analyst report issued to investors and clients on Tuesday morning, Macquarie has downgraded AK Steel (NYSE:AKS) stock to Neutral. 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 -41.43% below today’s ($8.98) stock price. AK Steel Holding Corporation has been the topic of 35 analyst reports since July 29, 2015 according to StockzIntelligence Inc. Bank of America downgraded the stock to “Underperform” rating in Monday, October 26 report. The stock of AK Steel Holding Corporation (NYSE:AKS) earned “Buy” rating by Deutsche Bank on Thursday, August 13. The rating was upgraded by Credit Suisse on Wednesday, June 8 to “Outperform”. As per Monday, October 5, the company rating was downgraded by Deutsche Bank. UBS downgraded AK Steel Holding Corporation (NYSE:AKS) on Friday, April 8 to “Sell” rating. The rating was downgraded by Bank of America to “Neutral” on Tuesday, September 8. The stock of AK Steel Holding Corporation (NYSE:AKS) earned “Overweight” rating by Morgan Stanley on Monday, November 14. The stock of AK Steel Holding Corporation (NYSE:AKS) has “Overweight” rating given on Thursday, July 30 by JP Morgan. As per Wednesday, January 13, the company rating was reinitiated by Jefferies. The rating was maintained by Cowen & Co with “Market Perform” on Thursday, October 29.

About 9.15 million shares traded hands. AK Steel Holding Corporation (NYSE: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 earnings per share, down 76.67% or $0.23 from last year’s $0.3 per share. AKS’s profit will be $21.20 million for 32.07 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 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.

First Savings Bank Na owns 10,290 shares or 0.01% of their US portfolio. Jpmorgan Chase & owns 1.07 million shares or 0% of their US portfolio. Geode Capital Mgmt Limited Liability, a Massachusetts-based fund reported 1.57M shares. Metropolitan Life Ins Communication New York, a New York-based fund reported 169,185 shares. Shoker Counsel last reported 10,000 shares in the company. Renaissance Limited accumulated 0.04% or 4.19M shares. Great West Life Assurance Com Can holds 0% of its portfolio in AK Steel Holding Corporation (NYSE:AKS) for 12,077 shares. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Inv Corporation holds 0% of its portfolio in AK Steel Holding Corporation (NYSE:AKS) for 52,300 shares. California Pub Employees Retirement Systems owns 799,608 shares or 0.01% of their US portfolio. Kbc Nv last reported 149,161 shares in the company. Morgan Stanley, a New York-based fund reported 5.19 million shares. Manufacturers Life Insurance Communications The last reported 0% of its portfolio in the stock. The New York-based Bnp Paribas Arbitrage Sa has invested 0% in AK Steel Holding Corporation (NYSE:AKS). Stevens Management L P holds 0.01% of its portfolio in AK Steel Holding Corporation (NYSE:AKS) for 62,320 shares. Highbridge Capital Mgmt Lc holds 214,641 shares or 0.02% of its portfolio.

Insider Transactions: Since July 28, 2016, the stock had 0 buys, and 1 sale for $180,900 net activity. Shares for $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 $2.72 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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