ATI Inc. (NYSE:ATI – Get Free Report) shares hit a new 52-week high on Wednesday . The company traded as high as $171.41 and last traded at $169.0240, with a volume of 377759 shares. The stock had previously closed at $168.76.
Wall Street Analyst Weigh In
Several analysts have issued reports on the company. BTIG Research boosted their price objective on ATI from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Susquehanna boosted their price objective on ATI from $155.00 to $185.00 and gave the stock a “positive” rating in a report on Friday, April 10th. Weiss Ratings restated a “buy (b-)” rating on shares of ATI in a report on Friday, May 22nd. KeyCorp boosted their price objective on ATI from $167.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Finally, Wall Street Zen cut ATI from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $164.38.
Read Our Latest Research Report on ATI
ATI Trading Up 2.5%
ATI (NYSE:ATI – Get Free Report) last issued its earnings results on Thursday, April 30th. The basic materials company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.88 by $0.12. ATI had a return on equity of 26.44% and a net margin of 9.26%.The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the firm posted $0.72 earnings per share. ATI’s revenue was up .6% compared to the same quarter last year. ATI has set its Q2 2026 guidance at 0.980-1.040 EPS and its FY 2026 guidance at 4.200-4.480 EPS. As a group, research analysts anticipate that ATI Inc. will post 4.43 earnings per share for the current fiscal year.
ATI declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 19th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the basic materials company to repurchase up to 2.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
Insiders Place Their Bets
In other news, CEO Kimberly A. Fields sold 40,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $159.21, for a total transaction of $6,368,400.00. Following the completion of the transaction, the chief executive officer directly owned 277,763 shares of the company’s stock, valued at $44,222,647.23. This represents a 12.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David J. Morehouse sold 6,609 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $154.25, for a total transaction of $1,019,438.25. Following the sale, the director owned 38,168 shares in the company, valued at approximately $5,887,414. This trade represents a 14.76% decrease in their position. The SEC filing for this sale provides additional information. 0.98% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On ATI
Several hedge funds have recently bought and sold shares of the business. Royal Bank of Canada raised its holdings in ATI by 8.1% in the first quarter. Royal Bank of Canada now owns 60,369 shares of the basic materials company’s stock worth $3,140,000 after buying an additional 4,542 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in ATI by 49.4% in the first quarter. Goldman Sachs Group Inc. now owns 633,948 shares of the basic materials company’s stock worth $32,984,000 after buying an additional 209,480 shares during the last quarter. Cetera Investment Advisers purchased a new position in ATI in the second quarter worth about $324,000. M&T Bank Corp purchased a new position in shares of ATI during the second quarter valued at approximately $317,000. Finally, First Trust Advisors LP raised its holdings in shares of ATI by 4.9% during the second quarter. First Trust Advisors LP now owns 197,214 shares of the basic materials company’s stock valued at $17,028,000 after purchasing an additional 9,234 shares during the last quarter.
About ATI
Allegheny Technologies Incorporated (ATI) is a global manufacturer of specialty materials and complex components, serving aerospace, defense, oil and gas, chemical processing, medical and other industrial end markets. The company operates through two main segments: High Performance Materials & Components, which produces titanium and nickel-based alloys, stainless and specialty steels, and precision forgings; and Flat-Rolled Products, which supplies stainless steel, nickel and specialty alloy sheet, strip and precision-rolled plate.
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