AK Steel Holding Trading 6.8% Higher Following Insider Buying Activity (AKS)
AK Steel Holding (NYSE:AKS)’s share price traded up 6.8% during mid-day trading on Monday following insider buying activity, Stock Ratings Network.com reports. The company traded as high as $10.25 and last traded at $10.24, with a volume of 4,360,026 shares traded. The stock had previously closed at $9.59.
Specifically, Director Mark G. Essig acquired 25,000 shares of the stock on the open market in a transaction that occurred on Wednesday, August 13th. The shares were purchased at an average cost of $9.80 per share, with a total value of $245,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on AKS. Analysts at Deutsche Bank reiterated a “hold” rating on shares of AK Steel Holding in a research note on Thursday, August 7th. They now have a $8.00 price target on the stock, up previously from $6.00. Separately, analysts at Jefferies Group raised their price target on shares of AK Steel Holding from $7.00 to $9.00 in a research note on Thursday, July 31st. They now have a “hold” rating on the stock. Finally, analysts at Macquarie reiterated an “outperform” rating on shares of AK Steel Holding in a research note on Wednesday, July 30th. They now have a $12.00 price target on the stock, up previously from $11.00. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $9.29.
The stock’s 50-day moving average is $8.84 and its 200-day moving average is $7.26. The company’s market cap is $1.393 billion.
AK Steel Holding (NYSE:AKS) last released its earnings data on Tuesday, July 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by $0.09. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 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 8.9% on a year-over-year basis. On average, analysts predict that AK Steel Holding will post $0.01 earnings per share 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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