Investors Buy Large Volume of Call Options on AK Steel Holding Corp. (AKS)
Shares of AK Steel Holding Corp. (NYSE:AKS) saw unusually large options trading on Wednesday. Investors acquired 16,286 call options on the company, AmericanBankingNews.com reports. This is an increase of approximately 396% compared to the average daily volume of 3,284 call options.
AKS has been the subject of a number of recent research reports. Analysts at Barclays raised their price target on shares of AK Steel Holding Corp. from $8.00 to $10.00 in a research note on Wednesday, January 29th. They now have an “overweight” rating on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of AK Steel Holding Corp. from $3.50 to $6.00 in a research note on Friday, January 10th. They now have a “hold” rating on the stock. Finally, analysts at Zacks upgraded shares of AK Steel Holding Corp. from a “neutral” rating to an “outperform” rating in a research note on Tuesday, January 7th. They now have a $9.25 price target on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. AK Steel Holding Corp. currently has an average rating of “Hold” and an average target price of $5.67.
AK Steel Holding Corp. (NYSE:AKS) traded up 1.97% during mid-day trading on Wednesday, hitting $6.74. 1,243,377 shares of the company’s stock traded hands. AK Steel Holding Corp. has a one year low of $2.76 and a one year high of $8.47. The stock’s 50-day moving average is $7.21 and its 200-day moving average is $5.11. The company’s market cap is $919.2 million.
AK Steel Holding Corp. (NYSE:AKS) last announced its earnings results on Monday, January 27th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.21. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the company posted ($0.30) earnings per share. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts expect that AK Steel Holding Corp. will post $0.40 EPS for the current fiscal year.
AK Steel Holding Corporation (NYSE:AKS) 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).
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