ATI (NYSE:ATI) Rating Increased to Hold at StockNews.com

by · The Cerbat Gem

StockNews.com upgraded shares of ATI (NYSE:ATI – Free Report) from a sell rating to a hold rating in a report issued on Wednesday morning.

A number of other brokerages also recently issued reports on ATI. Deutsche Bank Aktiengesellschaft increased their price target on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Susquehanna dropped their target price on shares of ATI from $75.00 to $70.00 and set a “positive” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, KeyCorp downgraded ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.71.

View Our Latest Report on ATI

ATI Price Performance

Shares of ATI opened at $57.30 on Wednesday. The company has a current ratio of 2.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. The stock’s 50 day moving average is $59.64 and its two-hundred day moving average is $60.47. ATI has a twelve month low of $38.04 and a twelve month high of $68.92. The firm has a market capitalization of $8.17 billion, a PE ratio of 22.04, a P/E/G ratio of 1.99 and a beta of 1.09.

ATI (NYSE:ATI – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.12 billion. ATI had a net margin of 8.85% and a return on equity of 21.39%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.55 earnings per share. Research analysts anticipate that ATI will post 2.27 earnings per share for the current year.

ATI declared that its board has authorized a stock repurchase program on Tuesday, September 3rd that authorizes the company to buyback $700.00 million in shares. This buyback authorization authorizes the basic materials company to reacquire up to 9.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Transactions at ATI

In other ATI news, SVP Tina Killough Busch sold 2,598 shares of ATI stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $60.02, for a total value of $155,931.96. Following the completion of the sale, the senior vice president now directly owns 21,553 shares of the company’s stock, valued at approximately $1,293,611.06. The trade was a 10.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total value of $1,474,750.00. Following the completion of the transaction, the chairman now owns 436,443 shares of the company’s stock, valued at $25,745,772.57. This trade represents a 5.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 77,598 shares of company stock valued at $4,726,682 over the last three months. 0.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ATI

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new position in ATI during the second quarter worth about $26,000. UMB Bank n.a. boosted its position in shares of ATI by 557.0% in the third quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock worth $62,000 after acquiring an additional 791 shares during the last quarter. Quest Partners LLC purchased a new stake in ATI in the second quarter valued at approximately $88,000. nVerses Capital LLC acquired a new position in ATI during the second quarter worth approximately $205,000. Finally, Forum Financial Management LP acquired a new position in ATI during the second quarter worth approximately $211,000.

About ATI

(Get Free Report)

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.

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