ATI (NYSE:ATI) Price Target Raised to $84.00

ATI (NYSE:ATI) had its price target upped by research analysts at Deutsche Bank Aktiengesellschaft from $81.00 to $84.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 28.07% from the company’s previous close.

ATI has been the topic of a number of other research reports. KeyCorp upped their price target on ATI from $66.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Benchmark reiterated a “buy” rating and issued a $80.00 target price on shares of ATI in a report on Wednesday, August 7th. BTIG Research started coverage on shares of ATI in a report on Wednesday, June 26th. They set a “buy” rating and a $70.00 price target for the company. Northcoast Research lowered shares of ATI from a “neutral” rating to a “sell” rating in a research note on Friday, June 14th. Finally, Susquehanna started coverage on shares of ATI in a research report on Thursday, September 5th. They set a “positive” rating and a $75.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ATI presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.43.

ATI Stock Performance

ATI stock opened at $65.59 on Thursday. The business has a 50 day moving average of $63.48 and a 200-day moving average of $58.52. The company has a market capitalization of $8.16 billion, a P/E ratio of 26.34, a P/E/G ratio of 1.62 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 announced its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. ATI had a net margin of 8.74% and a return on equity of 23.05%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the company posted $0.59 EPS. The company’s revenue was up 5.2% on a year-over-year basis. On average, equities research analysts predict that ATI will post 2.48 earnings per share for the current year.

ATI declared that its board has initiated a share buyback plan on Tuesday, September 3rd that authorizes the company to buyback $700.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to buy up to 9.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $61.61, for a total transaction of $1,540,250.00. Following the completion of the sale, the chairman now directly owns 511,443 shares of the company’s stock, valued at approximately $31,510,003.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its stake in shares of ATI by 0.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 84,050 shares of the basic materials company’s stock worth $3,822,000 after buying an additional 216 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of ATI by 3.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,113 shares of the basic materials company’s stock valued at $364,000 after buying an additional 224 shares during the last quarter. First Trust Direct Indexing L.P. grew its stake in shares of ATI by 4.3% during the 1st quarter. First Trust Direct Indexing L.P. now owns 5,849 shares of the basic materials company’s stock worth $299,000 after acquiring an additional 239 shares during the period. Beck Capital Management LLC increased its holdings in ATI by 0.8% in the 2nd quarter. Beck Capital Management LLC now owns 34,229 shares of the basic materials company’s stock worth $1,898,000 after acquiring an additional 262 shares during the last quarter. Finally, Nvwm LLC raised its stake in ATI by 2.1% in the 1st quarter. Nvwm LLC now owns 16,177 shares of the basic materials company’s stock valued at $828,000 after acquiring an additional 334 shares during the period.

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.