Dropping The 52 Week Low, AK Steel Holding Corporation (NYSE:AKS) Finishing At $2.84

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Shipwreck freeimages.com/Roger Buser
Shipwreck freeimages.com/Roger Buser

AK Steel Holding Corporation (NYSE:AKS)

December 7th, 2018
Amidst falling markets AK Steel Holding Corporation finished Friday’s trading session down 3.57%, a $0.11 decrease to close on $2.84. As well as the drop in value, AK Steel Holding Corporation hit a new 52 week low of $2.82, breaking the previous low of $2.90 from earlier this month. Be aware that the Altman Z-Score1 (An indicator of the probability for a 2-year bankruptcy) is below the recommended threshold of 1.8%, and calculated to be 0.80.

AKS was outperformed by the rest of the Materials sector which went down only 2.54%.

Analysis results from 14 analysts indicates that AK Steel Holding Corporation could go up significantly (64%), while Finbox has calculated (with high uncertainty) a fair value price of $5.04.

Market Sectors

The market sectors were mixed Friday with a majority of the sectors trending down. Utilities saw the biggest increase of the day (0.40%), while Information Technology saw the biggest drop (3.53%). Healthcare has seen the biggest year-to-date gain at 12%. The biggest loss this year has been the Materials sector declining 12%.

Utilities saw the biggest turnaround from its 5-day performance of 2.33%, as it went up 0.40%. Real Estate saw a turn around from its 5-day performance of 2.84% trading down 1.44%.

Sector Breakdown

  • Utilities went up with a 0.40% change.
  • Energy went down with a -0.64% change.
  • Consumer Staples went down with a -1.29% change.
  • Real Estate went down with a -1.44% change.
  • Financials went down with a -1.84% change.
  • Communication Services went down with a -2.09% change.
  • Healthcare went down with a -2.51% change.
  • Materials went down with a -2.54% change.
  • Industrials went down with a -2.62% change.
  • Consumer Discretionary went down with a -3.08% change.
  • Information Technology went down with a -3.53% change.

AK Steel Holding is based in West Chester Township, United States of America. AK Steel Holding was founded in 1899.

AK Steel Holding Corporation Info

AK Steel Holding Corporation, through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, stainless, and electrical steels, and tubular products in the United States and internationally. It produces flat-rolled carbon steel products, including coated, cold-rolled, and hot-rolled carbon steel products; grain-oriented specialty stainless and electrical steels; and carbon and stainless steel tubing products. The company also buys and sells steel and steel products, as well as other materials; and produces metallurgical coal from reserves in Somerset County, Pennsylvania. It sells its flat-rolled carbon steel products primarily to automotive manufacturers; customers in the infrastructure and manufacturing markets, including the manufacturers of power transmission and distribution transformers, who produce equipment for the electrical grid, as well as electrical motors and generators; and manufacturers of heating, ventilation and air conditioning equipment, and appliances. The company also sells its carbon steel products to distributors, service centers, and converters. AK Steel Holding Corporation was founded in 1993 and is headquartered in West Chester, Ohio.

All amounts in USD unless otherwise indicated

(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that AK Steel Holding Corporation’s score is 0.80) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.

AKS daily update

AKS daily update
AKS daily update

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