AK Steel Holding Corp. (NYSE:AKS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm currently has a $5.25 price objective on the stock. Zacks Investment Research’s price target suggests a potential upside of 13.39% from the stock’s previous close.

According to Zacks, “Estimates for AK Steel have been going up lately. AK Steel should benefit from the strength in the automotive market and higher shipments of carbon steel products to automakers in 2016. It should also gain from the synergies of its acquisition of Severstal Dearborn. Favorable pricing trend for key raw materials is also expected to support its results this year.”

Several other research analysts also recently commented on AKS. Jefferies Group restated a “hold” rating on shares of AK Steel Holding Corp. in a report on Saturday, October 1st. Credit Suisse Group AG set a $8.00 price objective on AK Steel Holding Corp. and gave the stock a “buy” rating in a report on Saturday, October 8th. Rosenblatt Securities began coverage on AK Steel Holding Corp. in a report on Monday, August 22nd. They set a “buy” rating and a $6.00 price objective on the stock. Deutsche Bank AG restated a “sell” rating on shares of AK Steel Holding Corp. in a report on Thursday, July 7th. Finally, Barclays PLC raised their price objective on AK Steel Holding Corp. from $5.00 to $6.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 3rd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $5.35.

Analyst Recommendations for AK Steel Holding Corp. (NYSE:AKS)

AK Steel Holding Corp. (NYSE:AKS) traded up 3.3434% during trading on Wednesday, hitting $4.7848. The stock had a trading volume of 5,412,110 shares. The stock’s market cap is $1.14 billion. The stock has a 50 day moving average price of $4.57 and a 200-day moving average price of $4.73. AK Steel Holding Corp. has a 12 month low of $1.64 and a 12 month high of $7.09.

AK Steel Holding Corp. (NYSE:AKS) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.10. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.53 billion. AK Steel Holding Corp. had a negative return on equity of 12.89% and a negative net margin of 2.18%. AK Steel Holding Corp.’s quarterly revenue was down 11.7% on a year-over-year basis. During the same period last year, the business posted ($0.36) EPS. On average, equities analysts predict that AK Steel Holding Corp. will post $0.32 EPS for the current year.

In other AK Steel Holding Corp. news, Director Vicente Wright sold 27,000 shares of AK Steel Holding Corp. stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $6.70, for a total transaction of $180,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.80% of the company’s stock.

Several institutional investors have recently modified their holdings of AKS. TIAA CREF Investment Management LLC boosted its position in shares of AK Steel Holding Corp. by 68.7% in the first quarter. TIAA CREF Investment Management LLC now owns 801,885 shares of the company’s stock valued at $3,312,000 after buying an additional 326,668 shares during the period. Teachers Advisors Inc. raised its position in shares of AK Steel Holding Corp. by 793.3% in the first quarter. Teachers Advisors Inc. now owns 2,405,707 shares of the company’s stock valued at $9,936,000 after buying an additional 2,136,400 shares in the last quarter. Prudential Financial Inc. raised its position in shares of AK Steel Holding Corp. by 4.1% in the first quarter. Prudential Financial Inc. now owns 422,629 shares of the company’s stock valued at $1,745,000 after buying an additional 16,600 shares in the last quarter. BlackRock Inc. raised its position in shares of AK Steel Holding Corp. by 61.5% in the first quarter. BlackRock Inc. now owns 24,495 shares of the company’s stock valued at $101,000 after buying an additional 9,327 shares in the last quarter. Finally, BlackRock Group LTD raised its position in shares of AK Steel Holding Corp. by 6.8% in the first quarter. BlackRock Group LTD now owns 230,615 shares of the company’s stock valued at $952,000 after buying an additional 14,775 shares in the last quarter. 68.75% of the stock is owned by institutional investors and hedge funds.

About AK Steel Holding Corp.

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 (AK Steel). The Company 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.

5 Day Chart for NYSE:AKS

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