ATI Inc. (NYSE:ATI) Shares Bought by Raymond James & Associates

Raymond James & Associates raised its stake in ATI Inc. (NYSE:ATI) by 318.6% during the second quarter, Holdings Channel reports. The firm owned 46,050 shares of the basic materials company’s stock after purchasing an additional 35,048 shares during the period. Raymond James & Associates’ holdings in ATI were worth $2,553,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp lifted its holdings in shares of ATI by 10.7% during the 4th quarter. Van ECK Associates Corp now owns 143,050 shares of the basic materials company’s stock valued at $6,504,000 after acquiring an additional 13,775 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of ATI by 14.0% during the 4th quarter. Victory Capital Management Inc. now owns 1,109,192 shares of the basic materials company’s stock valued at $50,435,000 after acquiring an additional 135,820 shares in the last quarter. Versor Investments LP acquired a new position in shares of ATI during the 4th quarter valued at $544,000. Mesirow Institutional Investment Management Inc. lifted its holdings in shares of ATI by 21.1% during the 4th quarter. Mesirow Institutional Investment Management Inc. now owns 303,187 shares of the basic materials company’s stock valued at $13,786,000 after acquiring an additional 52,847 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of ATI by 80.3% during the 4th quarter. BNP Paribas Financial Markets now owns 212,734 shares of the basic materials company’s stock valued at $9,673,000 after acquiring an additional 94,734 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Benchmark restated a “buy” rating and set a $80.00 target price on shares of ATI in a report on Wednesday, August 7th. KeyCorp lifted their target price on shares of ATI from $66.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Barclays boosted their price objective on shares of ATI from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. BTIG Research assumed coverage on shares of ATI in a report on Wednesday, June 26th. They issued a “buy” rating and a $70.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $73.83.

ATI Price Performance

ATI opened at $63.88 on Monday. The company has a 50-day moving average of $61.17 and a 200-day moving average of $56.22. The company has a market capitalization of $7.95 billion, a P/E ratio of 25.65, a PEG ratio of 1.56 and a beta of 1.07. ATI Inc. has a 1-year low of $35.03 and a 1-year high of $68.92. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.07 and a current ratio of 2.13.

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

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.