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AK Steel Holding Corporation Message Board

  • longtimefollower longtimefollower Mar 2, 2013 1:23 AM Flag

    Absolutely no reason stock is down on price increase.

    I think we see $4.25 next week.

    Does anyone know what % of their total production this price increase covers?

    Sentiment: Buy

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    • From SBWire:
      "AK Steel Holding Corporation (NYSE:AKS) shares decreased 3.73% to $3.61 after the company last week announced price increases, following reports that United States Steel Corp had boosted its own spot prices. Dahlman Rose analyst Anthony Rizzuto said it is unusual for U.S. Steel to lead price increases in this way. He said the move should at least keep prices in the broader market from falling in the short term."

      AKS is technically oversold.

      Sentiment: Buy

    • Cannot answer your question, but why would you think we would see $4.25 next week when the stock is clearly in a downward trajectory, falling even as the DOW is at highs.I've been buying for the last 2 weeks as it drops and I've been chasing it down, so I'm not a short seller or bear on the company. Up to 22,000 shares now with an average cost of 3.96, so well underwater and I'm thinking it is still going lower. I trade with Scott. On AKS, the three analyst reports they give are S & P Stock Report (dated Feb. 27, 2013) which has a 12 month target price of $3.00, Thompson Reueters which has it in a neutral overall rating, and Second Opinion Weekly Report which has an "avoid."
      Then there are others such as Goldman Sachs with a target price of $3.00. With most of the professional sentiment this way, it is scary, particularly as the stock falls in a rising market. I think all of this creates fear in other shareholders and some of them just sell. It certainly takes a CONTRARIAN view and a long term value approach to buy in this climate as it sinks. But is it ikely to turn around soon? Personally, I dobut it, and the momentum is down, so you can look at this as a disaster or a great longer term opportunity. I will probably keep adding and I keep reminding myself that for every share that is sold, someone is also buying it, wants to own it because they think VALUE will be there in the coming years. Good luck!

5.66-0.590(-9.44%)Dec 22 4:00 PMEST

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