Deutsche Bank Aktiengesellschaft Raises ATI (NYSE:ATI) Price Target to $84.00

ATI (NYSE:ATI) had its target price hoisted by Deutsche Bank Aktiengesellschaft from $81.00 to $84.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a buy rating on the basic materials company’s stock.

Other equities analysts also recently issued reports about the stock. Northcoast Research downgraded shares of ATI from a neutral rating to a sell rating in a research note on Friday, June 14th. Benchmark reaffirmed a buy rating and set a $80.00 target price on shares of ATI in a report on Wednesday, August 7th. Susquehanna assumed coverage on shares of ATI in a report on Thursday, September 5th. They set a positive rating and a $75.00 target price on the stock. JPMorgan Chase & Co. lifted their price objective on shares of ATI from $65.00 to $75.00 and gave the company an overweight rating in a research note on Wednesday, August 21st. Finally, KeyCorp lifted their price objective on shares of ATI from $66.00 to $67.00 and gave the company an overweight rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, ATI currently has a consensus rating of Moderate Buy and an average target price of $74.43.

ATI Price Performance

ATI stock opened at $65.09 on Thursday. The stock has a 50-day moving average price of $63.46 and a two-hundred day moving average price of $58.68. The stock has a market cap of $8.10 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 1.60 and a beta of 1.04. The company has a current ratio of 2.13, a quick ratio of 1.07 and a debt-to-equity ratio of 1.26. ATI has a 1 year low of $35.03 and a 1 year high of $68.92.

ATI (NYSE:ATI) last released its earnings results on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. ATI had a return on equity of 23.05% and a net margin of 8.74%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 EPS. Equities analysts forecast that ATI will post 2.48 EPS for the current fiscal year.

ATI declared that its board has initiated a stock repurchase plan on Tuesday, September 3rd that permits the company to repurchase $700.00 million in outstanding shares. This repurchase authorization permits the basic materials company to buy up to 9.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction on Monday, September 16th. The shares were sold at an average price of $61.61, for a total value of $1,540,250.00. Following the completion of the sale, the chairman now directly owns 511,443 shares of the company’s stock, valued at approximately $31,510,003.23. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.71% of the stock is owned by company insiders.

Institutional Investors Weigh In On ATI

A number of institutional investors have recently added to or reduced their stakes in ATI. Bornite Capital Management LP purchased a new stake in shares of ATI during the 4th quarter valued at approximately $10,003,000. SG Americas Securities LLC increased its position in shares of ATI by 202.7% in the second quarter. SG Americas Securities LLC now owns 27,450 shares of the basic materials company’s stock valued at $1,522,000 after acquiring an additional 18,381 shares during the period. Goldman Sachs Group Inc. increased its position in shares of ATI by 31.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,306,784 shares of the basic materials company’s stock valued at $59,419,000 after acquiring an additional 315,506 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of ATI in the first quarter valued at about $763,000. Finally, First Hawaiian Bank bought a new stake in shares of ATI during the 2nd quarter valued at about $757,000.

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.