Can AK Steel Holding Corporation (NYSE:AKS) Reach $6.5?

AK Steel reported Tuesday a net income of $6.7 million, or $0.04 per diluted share of common stock, for the third quarter of 2015, compared to a net loss of $7.2 million, or $0.05 per diluted share, for the third quarter of 2014 and a net loss of $64.0 million, or $0.36 per diluted share, for the second quarter of 2015.

AK Steel guided to lower carbon steel prices quarter-on-quarter (QoQ) in 4Q and reduced spot market participation due to ongoing import pressure.

So what: Third-quarter sales rose 7.5% to $1.71 billion as shipments rose 28% to 1,871,200 tons. On the contrary, the most bearish, or conservative analyst has a one-year target of $2.5. This means that over the past quarter there has been an increase of insiders buying their shares of AKS in relation to earlier this year. Over the last 30 and 90 trading days the company share price has decreased 0.19 points and decreased 1.79 points respectively. This suggests that analysts have very recently bumped up their estimates for AKS, giving the stock a Zacks Earnings ESP of 20.00% heading into earnings season. Vetr downgraded AK Steel Holding from a “strong-buy” rating to a “buy” rating and set a $2.66 price target for the company.in a report on Wednesday.

Also, because of different datasources, our reporting and figures may be different then the numbers reported by FactSet and other sources. The broker with the highest target sees the stock at $8 within the next year while the broker with the lowest target sees the stock at $3 within that same time frame.

The firm’s market capitalization is $460.59 million. AK Steel Holding Corporation are listed in the Basic Industries sector within NYSE. The operations of the Organization and its wholly owned subsidiary companies consist mainly of eight steelmaking and finishing plants, two coke plants and two tube manufacturing plants across six states, which include Michigan, Kentucky, Indiana, Ohio, Pennsylvania and West Virginia. The Company’s operations produce flat-rolled value-added 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.