AK Steel Holding Corporation (NYSE:AKS) is one of the stocks that are grabbing investor focus today: sinking -2.63% or (-0.08 points) to $2.96 from its previous close of $3.04. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 2075629 contracts so far this session. AKS shares had a relatively better volume day versus average trading capacity of 7.66 million shares, but with a 0.31 billion float and a 0% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for AKS stock indicates that the average analyst price target is $3.06 per share. This means the stock has a potential increase of 3.38% from where the AKS share price has been trading recently.
During the recent trading session for AK Steel Holding Corporation (NYSE:AKS), the company witnessed their stock rise $unch over a week and tumble down $-0.13 from the price 20 days ago. When compared to their established 52-week high of $3.59, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 12/12/19. The recent low of $1.66 stood for a -17.55% since 05/31/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 3.04 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for AK Steel Holding Corporation, the two-week RSI stands at 45.79. This figure suggests that AKS stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current AKS readings is similarly very revealing as it has a stochastic reading of 71.78% at this stage. This figure means that AKS share price today is being oversold.
Technical chart claims that AK Steel Holding Corporation (AKS) would settle between $3.09/share to $3.13/share level. However, if the stock price goes below the $3 mark, then the market for AK Steel Holding Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $2.95 for its downside target.
Analysts at UBS raised their recommendation on shares of AKS from Sell to Neutral in their opinion released on December 11. JP Morgan analysts bumped their rating on AK Steel Holding Corporation (NYSE:AKS) stock from Underweight to Neutral in a separate flash note issued to investors on December 04. Analysts at JP Morgan lowered the stock to a Underweight call from its previous Overweight recommendation, in a research note that dated back to September 23.
AKS equity has an average rating of 3, with the figure leaning towards a bullish end. 10 analysts who tracked the company were contacted by Reuters. Amongst them, 10 rated the stock as a hold while the remaining 0 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 0 analysts rated AK Steel Holding Corporation (NYSE:AKS) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, AKS stock price is currently trading at 21.11X forward 12-month Consensus EPS estimates, and its P/E ratio is 9.5 while for the average stock in the same group, the multiple is 10.2. AK Steel Holding Corporation current P/B ratio of 7.1 means it is trading at a premium against its industry’s 0.8.
AK Steel Holding Corporation (AKS)’s current-quarter revenues are projected to climb by nearly -11.9% to hit $1.48 billion, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -6.2% from $6.82 billion to a noteworthy $6.39 billion. At the other end of the current quarter income statement, AK Steel Holding Corporation is expected to see its adjusted earnings surge by roughly -162.5% to hit $-0.1 per share. For the fiscal year, AKS’s earnings are projected to climb by roughly -43.8% to hit $0.36 per share.