ATI (NYSE:ATI) Reaches New 12-Month High – Here’s What Happened

Shares of ATI Inc. (NYSE:ATI) hit a new 52-week high on Monday . The stock traded as high as $76.44 and last traded at $76.23, with a volume of 80383 shares. The stock had previously closed at $76.28.

Analyst Ratings Changes

A number of research firms have recently issued reports on ATI. Barclays raised their price target on shares of ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. KeyCorp upgraded shares of ATI from a “sector weight” rating to an “overweight” rating and set a $55.00 price target on the stock in a research report on Wednesday, April 23rd. BTIG Research set a $90.00 price target on shares of ATI and gave the stock a “buy” rating in a research report on Monday, May 5th. Benchmark restated a “buy” rating and issued a $81.00 price target on shares of ATI in a research report on Monday, April 21st. Finally, Susquehanna raised their price target on shares of ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, ATI has an average rating of “Moderate Buy” and a consensus price target of $76.14.

ATI Price Performance

The company has a market capitalization of $10.76 billion, a P/E ratio of 29.89, a P/E/G ratio of 0.85 and a beta of 1.01. The business’s 50-day simple moving average is $54.70 and its 200 day simple moving average is $56.62. The company has a current ratio of 2.44, a quick ratio of 1.32 and a debt-to-equity ratio of 0.88.

ATI (NYSE:ATI) last released its earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. ATI had a net margin of 8.43% and a return on equity of 21.16%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the firm posted $0.48 earnings per share. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that ATI Inc. will post 2.89 EPS for the current year.

Insider Buying and Selling at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of ATI stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $68.18, for a total value of $3,409,000.00. Following the completion of the sale, the chairman now directly owns 506,538 shares in the company, valued at $34,535,760.84. The trade was a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of ATI

A number of institutional investors and hedge funds have recently modified their holdings of the company. United Services Automobile Association bought a new position in ATI during the first quarter worth $460,000. Goldman Sachs Group Inc. increased its holdings in ATI by 49.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 633,948 shares of the basic materials company’s stock valued at $32,984,000 after buying an additional 209,480 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of ATI in the 1st quarter worth about $324,000. Teza Capital Management LLC bought a new stake in shares of ATI in the 1st quarter worth about $420,000. Finally, Petrus Trust Company LTA bought a new stake in shares of ATI in the 1st quarter worth about $278,000.

About ATI

ATI Inc produces and sells specialty materials and complex components worldwide. It operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, metallic powder alloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.