KeyBanc Downgrades AK Steel Holding Corporation to Underweight

Brokerage firm KeyBanc Downgrades its rating on AK Steel Holding Corporation(NYSE:AKS). The shares have been rated Underweight. Previously, the analysts had a Sector Weight rating on the shares. The rating by KeyBanc was issued on Aug 19, 2016.

In a different note, On Aug 3, 2016, Barclays said it Maintains its rating on AK Steel Holding Corporation. In the research note, the firm Raises the price-target to $5.00 per share. The shares have been rated ‘Equal-weight’ by the firm. On Jul 27, 2016, Jefferies said it Maintains its rating on AK Steel Holding Corporation. In the research note, the firm Raises the price-target to $5.00 per share. The shares have been rated ‘Hold’ by the firm. On Jul 27, 2016, JP Morgan said it Maintains its rating on AK Steel Holding Corporation. In the research note, the firm Raises the price-target to $6.00 per share. The shares have been rated ‘Overweight’ by the firm. On Jul 13, 2016, Barclays said it Maintains its rating on AK Steel Holding Corporation. In the research note, the firm Raises the price-target to $4.00 per share. The shares have been rated ‘Equalweight’ by the firm. On Jun 10, 2016, Jefferies said it Maintains its rating on AK Steel Holding Corporation. In the research note, the firm Raises the price-target to $4.25 per share. The shares have been rated ‘Hold’ by the firm. On Jun 8, 2016, Credit Suisse said it Upgrades its rating on AK Steel Holding Corporation. In the research note, the firm Raises the price-target to $3.50 per share. The shares have been rated ‘Outperform’ by the firm.

AK Steel Holding Corporation (AKS) made into the market gainers list on Mondays trading session with the shares advancing 2.40% or 0.11 points. Due to strong positive momentum, the stock ended at $4.69, which is also near the day’s high of $4.75. The stock began the session at $4.57 and the volume stood at 72,97,864 shares. The 52-week high of the shares is $7.09 and the 52 week low is $1.64. The company has a current market capitalization of $1,117 M and it has 23,81,96,190 shares in outstanding.

AK Steel Holding Corporation(AKS) last announced its earnings results on Jul 26, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.49B. Analysts had an estimated revenue of $1.53B. Earnings per share were $0.08. Analysts had estimated an EPS of $-0.03.

Several Insider Transactions has been reported to the SEC. On Jul 29, 2016, Vicente Wright (director) sold 27,000 shares at $6.70 per share price.Also, On Aug 3, 2015, Roger K Newport (CFO) purchased 5,000 shares at $3.12 per share price.On Aug 3, 2015, Gregory A Hoffbauer (Controller & Chief Acct. Off.) purchased 2,200 shares at $3.35 per share price, according to the Form-4 filing with the securities and exchange commission.

AK Steel Holding Corporation (AK Holding) 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). The operations of the Company and its wholly owned subsidiaries consist primarily of eight steelmaking and finishing plants two coke plants and two tube manufacturing plants across six states which include Indiana Kentucky Michigan Ohio Pennsylvania and West Virginia. These operations produce flat-rolled carbon steels including coated cold-rolled and hot-rolled carbon steel products and specialty stainless and electrical steels that are sold in sheet and strip form as well as carbon and stainless steel that is finished into welded steel tubing. These products are sold to the automotive infrastructure and manufacturing and distributors and converters markets.

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