ATI Inc. (NYSE:ATI) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of ATI Inc. (NYSE:ATI) have been assigned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $74.00.

ATI has been the subject of a number of research reports. BTIG Research began coverage on shares of ATI in a report on Wednesday, June 26th. They issued a “buy” rating and a $70.00 price target on the stock. Susquehanna initiated coverage on ATI in a research note on Thursday. They issued a “positive” rating and a $75.00 target price on the stock. KeyCorp increased their target price on ATI from $66.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Benchmark reissued a “buy” rating and issued a $80.00 price target on shares of ATI in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th.

ATI Stock Performance

NYSE ATI opened at $59.96 on Friday. The business has a 50 day moving average price of $61.61 and a 200 day moving average price of $56.49. The company has a market capitalization of $7.46 billion, a P/E ratio of 24.08, a PEG ratio of 1.56 and a beta of 1.04. ATI 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 current ratio of 2.13 and a quick ratio of 1.07.

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

ATI announced that its board has initiated a share repurchase plan on Tuesday, September 3rd that authorizes the company to repurchase $700.00 million in shares. This repurchase authorization authorizes the basic materials company to repurchase up to 9.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On ATI

Large investors have recently bought and sold shares of the stock. Bornite Capital Management LP acquired a new stake in shares of ATI during the 4th quarter worth $10,003,000. SG Americas Securities LLC raised its holdings in shares of ATI by 202.7% in the 2nd quarter. SG Americas Securities LLC now owns 27,450 shares of the basic materials company’s stock worth $1,522,000 after purchasing an additional 18,381 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of ATI by 31.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,306,784 shares of the basic materials company’s stock worth $59,419,000 after purchasing an additional 315,506 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of ATI in the 1st quarter valued at about $763,000. Finally, First Hawaiian Bank purchased a new stake in shares of ATI during the 2nd quarter worth about $757,000.

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.