ATI (NYSE:ATI) Posts Quarterly Earnings Results, Beats Estimates By $0.19 EPS

ATI (NYSE:ATI) posted its quarterly earnings data on Tuesday. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.19, Zacks reports. ATI had a net margin of 8.85% and a return on equity of 21.39%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the company earned $0.64 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year.

ATI Stock Performance

ATI opened at $65.76 on Thursday. The company has a quick ratio of 1.44, a current ratio of 2.94 and a debt-to-equity ratio of 0.97. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 1.52 and a beta of 1.10. ATI has a 12-month low of $38.42 and a 12-month high of $68.92. The business has a 50 day moving average of $57.14 and a 200-day moving average of $60.20.

Analyst Ratings Changes

ATI has been the topic of several recent research reports. KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. StockNews.com upgraded ATI from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Susquehanna raised their price target on ATI from $70.00 to $73.00 and gave the company a “positive” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.14.

Insider Activity at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $58.99, for a total transaction of $1,474,750.00. Following the transaction, the chairman now owns 436,443 shares in the company, valued at approximately $25,745,772.57. This trade represents a 5.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Tina Killough Busch sold 2,598 shares of the business’s stock in a transaction 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 owns 21,553 shares of the company’s stock, valued at $1,293,611.06. This trade represents a 10.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.05% of the stock is owned by company insiders.

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.