ATI (NYSE:ATI) Price Target Raised to $75.00

ATI (NYSE:ATI) had its price objective boosted by Barclays from $70.00 to $75.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the basic materials company’s stock.

A number of other equities analysts have also issued reports on ATI. KeyCorp lowered ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. StockNews.com raised ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Susquehanna raised their price target on ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, ATI has a consensus rating of “Moderate Buy” and an average target price of $74.86.

ATI Stock Down 1.9 %

ATI opened at $60.70 on Monday. The business’s 50-day simple moving average is $57.39 and its 200-day simple moving average is $60.20. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.44 and a current ratio of 2.44. ATI has a one year low of $41.37 and a one year high of $68.92. The stock has a market capitalization of $8.66 billion, a P/E ratio of 23.80, a price-to-earnings-growth ratio of 1.69 and a beta of 1.10.

ATI (NYSE:ATI) last posted its earnings results on Tuesday, February 4th. The basic materials company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.19. ATI had a return on equity of 21.16% and a net margin of 8.43%. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. Analysts anticipate that ATI will post 2.87 EPS for the current year.

Insider Buying and Selling at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $58.99, for a total value of $1,474,750.00. Following the sale, the chairman now owns 436,443 shares of the company’s stock, valued at approximately $25,745,772.57. The trade was a 5.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 in the company, valued at $1,293,611.06. This represents a 10.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,498 shares of company stock valued at $2,288,141. 0.71% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ATI

Institutional investors have recently modified their holdings of the company. Hantz Financial Services Inc. purchased a new stake in shares of ATI during the 3rd quarter worth approximately $765,000. Franklin Resources Inc. raised its position in shares of ATI by 16.2% during the 3rd quarter. Franklin Resources Inc. now owns 445,746 shares of the basic materials company’s stock worth $27,993,000 after purchasing an additional 61,999 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of ATI by 16.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 77,022 shares of the basic materials company’s stock worth $5,154,000 after purchasing an additional 11,154 shares during the last quarter. Covea Finance raised its position in shares of ATI by 32.7% during the 4th quarter. Covea Finance now owns 65,000 shares of the basic materials company’s stock worth $3,578,000 after purchasing an additional 16,000 shares during the last quarter. Finally, Forest Avenue Capital Management LP acquired a new position in shares of ATI during the 3rd quarter worth approximately $28,700,000.

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.