Wall Street Zen lowered shares of ATI (NYSE:ATI – Free Report) from a buy rating to a hold rating in a research report released on Tuesday morning.
Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. lifted their price target on ATI from $150.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Zacks Research raised ATI from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $194.00 price objective on shares of ATI in a report on Friday, May 1st. Wells Fargo & Company assumed coverage on ATI in a research report on Wednesday, April 1st. They set an “overweight” rating and a $175.00 price objective on the stock. Finally, Susquehanna lifted their target price on ATI from $185.00 to $215.00 and gave the stock a “positive” rating in a report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating and nine have issued a Buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $176.78.
Read Our Latest Analysis on ATI
ATI Stock Performance
ATI (NYSE:ATI – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.12. ATI had a net margin of 9.26% and a return on equity of 26.44%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the firm earned $0.72 EPS. The business’s revenue was up .6% on a year-over-year basis. On average, sell-side analysts anticipate that ATI will post 4.49 EPS for the current year.
Insider Transactions at ATI
In other ATI news, CEO Kimberly A. Fields sold 59,749 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $179.07, for a total transaction of $10,699,253.43. Following the completion of the transaction, the chief executive officer directly owned 218,014 shares in the company, valued at $39,039,766.98. The trade was a 21.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 192,199 shares of company stock valued at $34,601,100 over the last quarter. Company insiders own 0.98% of the company’s stock.
Institutional Investors Weigh In On ATI
Large investors have recently modified their holdings of the business. Signature Equity Partners LLC raised its holdings in shares of ATI by 208.5% during the 1st quarter. Signature Equity Partners LLC now owns 182 shares of the basic materials company’s stock worth $26,000 after buying an additional 123 shares in the last quarter. CoreCap Advisors LLC bought a new stake in shares of ATI during the 2nd quarter worth $30,000. Allworth Financial LP boosted its stake in ATI by 50.8% in the third quarter. Allworth Financial LP now owns 534 shares of the basic materials company’s stock valued at $43,000 after buying an additional 180 shares in the last quarter. Torren Management LLC acquired a new stake in ATI in the fourth quarter valued at about $52,000. Finally, Summit Securities Group LLC bought a new position in ATI in the first quarter valued at about $60,000.
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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