Morgan Stanley Downgrades AK Steel Holding Corporation to Equal-Weight

Brokerage firm Morgan Stanley Downgrades its rating on AK Steel Holding Corporation(AKS). The shares have been rated Equal-Weight. Previously, the analysts had a Overweight rating on the shares. The rating by the stock financial advisor at Morgan Stanley was issued on Feb 13, 2017 in a research report to their Investors and Clients.

In a different note, On Jan 25, 2017, JP Morgan said it Downgrades its rating on AK Steel Holding Corporation. The shares have been rated ‘Neutral’ by the firm. On Jan 19, 2017, Citigroup said it Downgrades its rating on AK Steel Holding Corporation. The shares have been rated ‘Sell’ by the firm.

AK Steel Holding Corporation (AKS) shares turned negative on Wednesdays trading session with the shares closing down -0.27 points or -2.98% at a volume of 1,54,88,219. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $9. The peak price level was also seen at $9 while the days lowest was $8.7. Finally the shares closed at $8.79. The 52-week high of the shares is $11.39 while the 52-week low is $2.48. According to the latest information available, the market cap of the company is $2,767 M.

AK Steel Holding Corporation(AKS) last announced its earnings results on Jan 24, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $1.419B. Analysts had an estimated revenue of $1.410B. Earnings per share were $0.25. Analysts had estimated an EPS of $0.09.

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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