AK Steel Holding Corp. Sees Unusually High Options Volume (AKS)
AK Steel Holding Corp. (NYSE:AKS) saw some unusual options trading on Wednesday. Traders purchased 21,932 call options on the company, Stock Ratings Network reports. This represents an increase of approximately 606% compared to the typical volume of 3,106 call options.
AKS has been the subject of a number of recent research reports. Analysts at Bank of America upgraded shares of AK Steel Holding Corp. from a “neutral” rating to a “buy” rating in a research note on Monday. They now have a $10.00 price target on the stock, up previously from $9.00. Separately, analysts at Macquarie upgraded shares of AK Steel Holding Corp. from a “neutral” rating to an “outperform” rating in a research note on Wednesday, April 23rd. They now have a $11.00 price target on the stock, up previously from $6.00. Finally, analysts at Zacks downgraded shares of AK Steel Holding Corp. from an “outperform” rating to a “neutral” rating in a research note on Thursday, April 3rd. They now have a $7.75 price target on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $7.02.
AK Steel Holding Corp. (NYSE:AKS) traded up 9.20% during mid-day trading on Wednesday, hitting $7.60. The stock had a trading volume of 18,317,712 shares. AK Steel Holding Corp. has a 52 week low of $2.92 and a 52 week high of $8.47. The stock’s 50-day moving average is $6.5 and its 200-day moving average is $6.7. The company’s market cap is $1.039 billion.
AK Steel Holding Corp. (NYSE:AKS) last released its earnings data on Tuesday, April 22nd. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.03. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the company posted ($0.07) earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts expect that AK Steel Holding Corp. will post $0.04 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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