Rating Worth Mentioning Today: What To Expect After AK Steel Holding Corporation (NYSE:AKS)’s Downgrade Rating From Macquarie Research?

November 30, 2016 - By Ellis Scott

Rating Worth Mentioning Today: What To Expect After AK Steel Holding Corporation (NYSE:AKS)'s Downgrade Rating From Macquarie Research?

AK Steel Holding Corporation (NYSE:AKS) Downgrade

Macquarie Research downgraded AK Steel Holding Corporation (NYSE:AKS)‘s stock to a Neutral rating from a Outperform. The rating change was sent to investors in a an analyst note today.

AK Steel Holding Corporation (NYSE:AKS) Ratings Coverage

Out of 15 analysts covering AK Steel Holding Corporation (NYSE:AKS), 6 rate it a “Buy”, 1 “Sell”, while 8 “Hold”. This means 40% are positive. $8 is the highest target while $2 is the lowest. The $5.26 average target is -41.16% below today’s ($8.94) stock price. AK Steel Holding Corporation has been the topic of 36 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Friday, October 28 by Jefferies. Bank of America upgraded AK Steel Holding Corporation (NYSE:AKS) on Wednesday, October 26 to “Buy” rating. The stock has “Hold” rating given by BB&T Capital on Thursday, September 10. On Wednesday, March 9 the stock rating was maintained by Nomura with “Neutral”. The firm has “Neutral” rating given on Tuesday, November 29 by Macquarie Research. The rating was upgraded by Deutsche Bank to “Hold” on Monday, October 3. The company was initiated on Monday, August 22 by Rosenblatt. As per Friday, April 8, the company rating was downgraded by UBS. The firm has “Underweight” rating by KeyBanc Capital Markets given on Friday, August 19. The firm has “Neutral” rating by Bank of America given on Tuesday, September 8.

The stock decreased 1.76% or $0.16 during the last trading session, hitting $8.94. About 606 shares traded hands. AK Steel Holding Corporation (NYSE:AKS) has risen 80.24% since April 27, 2016 and is uptrending. It has outperformed by 75.02% 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 $21.22M for 31.93 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 2016 Q2. Its down 2.16, from 3.34 in 2016Q1. The ratio turned negative, 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.

Moreover, Pacad Inv Limited has 0.17% invested in AK Steel Holding Corporation (NYSE:AKS) for 256,045 shares. The Kentucky-based Teachers Retirement Of The State Of Kentucky has invested 0% in AK Steel Holding Corporation (NYSE:AKS). Ny State Teachers Retirement Sys has invested 0% of its portfolio in AK Steel Holding Corporation (NYSE:AKS). State Street Corporation, a Massachusetts-based fund reported 10.54M shares. Barclays Public Ltd Co holds 0% of its portfolio in AK Steel Holding Corporation (NYSE:AKS) for 428,822 shares. Ameritas Prns has 0.01% invested in the company for 18,122 shares. Moreover, Amalgamated Fincl Bank has 0.01% invested in AK Steel Holding Corporation (NYSE:AKS) for 28,161 shares. Wfg Advisors Limited Partnership has 107 shares for 0% of their US portfolio. Pinebridge L P accumulated 30,205 shares or 0.01% of the stock. Cibc Asset Management holds 0% or 16,517 shares in its portfolio. Anchor Bolt Cap L P reported 4.55M shares or 0.74% of all its holdings. Moreover, Pomelo Ltd Llc has 0.04% invested in AK Steel Holding Corporation (NYSE:AKS) for 180,000 shares. Blackrock Advsr Ltd Llc has 105,613 shares for 0% of their US portfolio. Commerzbank Aktiengesellschaft Fi accumulated 0.05% or 1.47M shares. Tfs Capital Limited Liability holds 133,718 shares or 0.11% of its portfolio.

Insider Transactions: Since July 28, 2016, the stock had 0 insider buys, and 1 insider sale for $180,900 net activity. 27,000 shares were sold by WRIGHT VICENTE, worth $180,900.

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 $2.71 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.

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