Bank of America Downgrades AK Steel Holding (AKS) to Underperform
27 October 2015
Brokerage firm Bank of America Downgrades its rating on AK Steel Holding(NYSE:AKS). The shares have been rated Underperform. Previously, the analysts had a Neutral rating on the counter. The rating by Bank of America was issued on Oct 26, 2015.
AK Steel Holding Corporation has dropped 4.89% during the last 3-month period . Year-to-Date the stock performance stands at -57.41%. Currently the company Insiders own 2.03% of Ak Steel Hldg Company shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by 15.2% . Institutional Investors own 63.6% of Ak Steel Hldg shares. During last six month period, the net percent change held by insiders has seen a change of 15.2%.
The company shares have dropped 60.67% in the past 52 Weeks. On October 29, 2014 The shares registered one year high of $8 and one year low was seen on September 28, 2015 at $2.05. The 50-day moving average is $2.74 and the 200 day moving average is recorded at $3.81. S&P 500 has rallied 4.61% during the last 52-weeks. AK Steel Holding Corporation (NYSE:AKS): The stock price is expected to reach $ 4.26 in the short term. The number of analysts agreeing with this consensus is 10. The higher estimate for the short term price target is at $7 while the lower estimate is at $3. The standard deviation of the price stands at $1.23.
Shares of AK Steel Holding Corporation (NYSE:AKS) ended Wednesday session in red amid volatile trading. The shares closed down 0.18 points or 6.64% at $2.53 with 5,696,786 shares getting traded. Post opening the session at $2.73, the shares hit an intraday low of $2.53 and an intraday high of $2.73 and the price vacillated in this range throughout the day. The company has a market cap of $450 million and the number of outstanding shares have been calculated to be 177,835,790 shares. The 52-week high of AK Steel Holding Corporation (NYSE:AKS) is $8 and the 52-week low is $2.05.
AK Steel Holding Corporation (AK Holding) is an integrated producer of flat-rolled carbon, stainless and electrical steels and tubular products through its wholly-owned subsidiary, AK Steel Corporation (AK Steel and, together with AK Holding, the Company). The Company’s operations consist primarily of nine steelmaking and finishing plants and tubular production facilities located in Indiana, Kentucky, Ohio and Pennsylvania. The Company’s operations produce flat-rolled value-added carbon steels, including coated, cold-rolled and hot-rolled carbon steel products, and specialty stainless and electrical steels that are sold in sheet and strip form, as well as carbon and stainless steel that is finished into welded steel tubing. In addition, the Company’s operations include European trading companies that buy and sell steel and steel products and other materials, AK Coal Resources, Inc. In September 2014, AK Steel completes acquisition of Severstal Dearborn.