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AK Steel (AKS) Soars: Stock Adds 13.7% in Session

Zacks Equity Research
Updated

AK Steel Holding Corporation AKS was a big mover last session, as the company saw its shares rise nearly 14% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend for the company—as the stock is now down 7.5% in the past one-month time frame.

The stock gained after the U.S. Department of Commerce issued the long-awaited reports on its probe into imports of steel and aluminum products and recommended President Donald Trump to impose tariffs or quotas on these imports. This will help steelmakers such as AK Steel to increase production and prices, as the supply of cheap steel imports is likely to decrease after imposition of tariffs.

The company has seen a mixed track record when it comes to estimate revision of one increase and one decrease over the past few months, while the Zacks Consensus Estimate for the current quarter hasn’t been in a trend either. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

AK Steel currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.

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AK Steel Holding Corporation Price

AK Steel Holding Corporation Price | AK Steel Holding Corporation Quote

Investors interested in the Steel - Producers industry may consider Steel Dynamics, Inc. STLD, which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is AKS going up? Or down? Predict to see what others think:Up or Down

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AK Steel Holding Corporation (AKS) : Free Stock Analysis Report
 
Steel Dynamics, Inc. (STLD) : Free Stock Analysis Report
 
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Zacks Investment Research