ATI (NYSE:ATI) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of ATI (NYSE:ATI) from a hold rating to a sell rating in a research report released on Wednesday.

Other equities research analysts have also recently issued research reports about the stock. KeyCorp cut shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Susquehanna lowered their target price on ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $73.71.

ATI Stock Down 1.1 %

ATI stock opened at $57.16 on Wednesday. The firm has a market cap of $8.15 billion, a price-to-earnings ratio of 21.99, a PEG ratio of 1.60 and a beta of 1.12. The company has a current ratio of 2.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. ATI has a 12 month low of $38.04 and a 12 month high of $68.92. The stock has a fifty day simple moving average of $57.01 and a two-hundred day simple moving average of $60.15.

ATI (NYSE:ATI) last issued its 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 return on equity of 21.39% and a net margin of 8.85%. ATI’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted $0.55 EPS. Equities analysts predict that ATI will post 2.28 EPS for the current fiscal year.

Insider Activity

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction on Wednesday, December 4th. The shares were 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. The trade was a 5.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Tina Killough Busch sold 2,598 shares of the stock in a transaction on Wednesday, December 4th. The stock was 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. The trade was a 10.76 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On ATI

A number of hedge funds have recently made changes to their positions in the business. ORG Wealth Partners LLC purchased a new position in ATI in the 4th quarter worth approximately $25,000. Quarry LP bought a new stake in shares of ATI during the second quarter valued at approximately $26,000. UMB Bank n.a. lifted its holdings 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 buying an additional 791 shares in the last quarter. Blue Trust Inc. boosted its position in shares of ATI by 137.7% during the fourth quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company’s stock worth $144,000 after acquiring an additional 1,516 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in ATI by 66.0% during the third quarter. GAMMA Investing LLC now owns 3,344 shares of the basic materials company’s stock valued at $224,000 after acquiring an additional 1,330 shares in the last quarter.

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.