Q3 2024 EPS Estimates for ATI Inc. Raised by Analyst (NYSE:ATI)

ATI Inc. (NYSE:ATI) – Equities researchers at Seaport Res Ptn lifted their Q3 2024 earnings per share (EPS) estimates for ATI in a note issued to investors on Sunday, June 16th. Seaport Res Ptn analyst R. Safran now forecasts that the basic materials company will earn $0.65 per share for the quarter, up from their prior estimate of $0.61. The consensus estimate for ATI’s current full-year earnings is $2.41 per share. Seaport Res Ptn also issued estimates for ATI’s FY2024 earnings at $2.45 EPS.

ATI (NYSE:ATI) last released its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. ATI had a return on equity of 23.72% and a net margin of 8.70%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the firm posted $0.49 earnings per share. The firm’s quarterly revenue was up .5% on a year-over-year basis.

ATI has been the topic of a number of other reports. KeyCorp upped their price target on ATI from $58.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 28th. Northcoast Research lowered ATI from a “neutral” rating to a “sell” rating in a report on Friday, June 14th. Deutsche Bank Aktiengesellschaft started coverage on ATI in a report on Thursday, April 11th. They issued a “buy” rating and a $70.00 target price on the stock. Finally, Barclays increased their target price on ATI from $55.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $62.60.

ATI Stock Up 0.6 %

NYSE:ATI opened at $55.18 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 2.81 and a debt-to-equity ratio of 1.56. The stock’s fifty day moving average is $56.85 and its two-hundred day moving average is $49.28. ATI has a 52 week low of $35.03 and a 52 week high of $62.44. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 22.02, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ATI. Capital International Investors increased its stake in shares of ATI by 1.3% during the 1st quarter. Capital International Investors now owns 15,409,897 shares of the basic materials company’s stock worth $788,524,000 after purchasing an additional 203,012 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of ATI by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 14,338,873 shares of the basic materials company’s stock worth $733,720,000 after purchasing an additional 132,478 shares in the last quarter. Frontier Capital Management Co. LLC increased its stake in shares of ATI by 19.5% during the 4th quarter. Frontier Capital Management Co. LLC now owns 3,645,644 shares of the basic materials company’s stock worth $165,767,000 after purchasing an additional 594,644 shares in the last quarter. Capital World Investors increased its stake in shares of ATI by 43.9% during the 1st quarter. Capital World Investors now owns 2,840,962 shares of the basic materials company’s stock worth $145,372,000 after purchasing an additional 866,310 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in ATI by 6.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,317,722 shares of the basic materials company’s stock worth $105,394,000 after acquiring an additional 139,694 shares during the period.

ATI Company Profile

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.