ATI Inc. (NYSE:ATI – Get Free Report)’s stock price traded up 8% on Thursday following a stronger than expected earnings report. The company traded as high as $177.57 and last traded at $178.5830. 756,133 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 1,820,352 shares. The stock had previously closed at $165.30.
The basic materials company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.37 by $0.09. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.32 billion. ATI had a return on equity of 29.27% and a net margin of 10.09%. The business’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 EPS.
Analysts Set New Price Targets
ATI has been the topic of a number of research reports. BTIG Research boosted their target price on shares of ATI from $180.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. KeyCorp dropped their target price on shares of ATI from $258.00 to $228.00 and set an “overweight” rating on the stock in a research report on Thursday, October 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $262.00 target price on shares of ATI in a report on Monday, August 10th. Weiss Ratings upgraded shares of ATI from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, October 13th. Finally, TD Cowen increased their target price on shares of ATI from $170.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $223.88.
Get Our Latest Stock Analysis on ATI
Insider Activity
In other news, CEO Kimberly A. Fields sold 24,845 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $231.19, for a total transaction of $5,743,915.55. Following the transaction, the chief executive officer owned 100,719 shares of the company’s stock, valued at approximately $23,285,225.61. This represents a 19.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Timothy J. Harris sold 9,000 shares of the business’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $191.82, for a total transaction of $1,726,380.00. Following the completion of the sale, the vice president owned 88,187 shares of the company’s stock, valued at approximately $16,916,030.34. This represents a 9.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 85,830 shares of company stock worth $18,046,361 in the last three months. Company insiders own 0.98% of the company’s stock.
Institutional Trading of ATI
Several large investors have recently made changes to their positions in the business. Signature Equity Partners LLC grew its position 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 valued at $26,000 after acquiring an additional 123 shares during the period. CoreCap Advisors LLC acquired a new position in ATI in the 2nd quarter valued at about $30,000. Retirement Wealth Solutions LLC acquired a new position in ATI during the 3rd quarter worth approximately $30,000. V Square Quantitative Management LLC boosted its holdings in shares of ATI by 71.9% in the 3rd quarter. V Square Quantitative Management LLC now owns 220 shares of the basic materials company’s stock valued at $42,000 after buying an additional 92 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in ATI in the first quarter valued at $60,000.
ATI Price Performance
The company has a current ratio of 2.33, a quick ratio of 1.14 and a debt-to-equity ratio of 0.91. The company has a market cap of $24.37 billion, a PE ratio of 52.54, a price-to-earnings-growth ratio of 0.93 and a beta of 0.99. The stock has a fifty day simple moving average of $192.12 and a two-hundred day simple moving average of $172.52.
ATI Company Profile
ATI Inc (NYSE: ATI) is a specialty materials and components manufacturer serving demanding applications in the aerospace and defense, medical, energy, and industrial markets. The company develops and produces materials designed to perform in high-temperature, high-strength, and corrosion-resistant environments.
Its products include nickel-based superalloys, titanium and titanium-based materials, specialty steels, precision-rolled materials, forgings, and other engineered components. These products are used in aircraft engines and airframes, defense systems, medical implants and devices, power-generation equipment, and other industrial applications.
ATI was formed in 1996 through the combination of Allegheny Ludlum Corporation and Teledyne, Inc The company serves customers in the United States and international markets through manufacturing and processing operations across North America and Europe.
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