AK Steel Holding Sees Unusually High Options Volume (AKS)
AK Steel Holding (NYSE:AKS) was the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 10,029 call options on the company, AR Network reports. This represents an increase of approximately 223% compared to the average daily volume of 3,108 call options.
A number of research firms have recently commented on AKS. Analysts at Bank of America reiterated a “buy” rating on shares of AK Steel Holding in a research note on Thursday, August 28th. They now have a $13.00 price target on the stock, up previously from $11.00. Separately, 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. Finally, 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. 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. The company presently has a consensus rating of “Hold” and an average price target of $9.71.
Shares of AK Steel Holding (NYSE:AKS) traded down 6.36% on Wednesday, hitting $10.01. The stock had a trading volume of 18,819,106 shares. AK Steel Holding has a 52-week low of $3.30 and a 52-week high of $11.37. The stock has a 50-day moving average of $9.55 and a 200-day moving average of $7.58. The company’s market cap is $1.369 billion.
AK Steel Holding (NYSE:AKS) last posted its quarterly earnings results 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. Analysts expect that AK Steel Holding 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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