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

ATI (NYSE:ATI) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

Several other research analysts have also weighed in on the stock. KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. lifted their price target on ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Benchmark reissued a “buy” rating and set a $80.00 target price on shares of ATI in a report on Wednesday, August 7th. Finally, Susquehanna reduced their price objective on ATI from $75.00 to $70.00 and set a “positive” rating for the company in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, ATI currently has a consensus rating of “Hold” and an average price target of $73.71.

ATI Price Performance

NYSE:ATI opened at $59.70 on Monday. The firm has a market capitalization of $8.52 billion, a P/E ratio of 23.00, a PEG ratio of 2.06 and a beta of 1.09. ATI has a 1-year low of $38.04 and a 1-year high of $68.92. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.94 and a quick ratio of 1.44. The company’s fifty day moving average price is $60.71 and its 200-day moving average price is $60.57.

ATI (NYSE:ATI) last released its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). ATI had a net margin of 8.85% and a return on equity of 21.39%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. As a group, equities research analysts anticipate that ATI will post 2.27 EPS for the current year.

ATI declared that its board has initiated a share repurchase program on Tuesday, September 3rd that permits the company to buyback $700.00 million in outstanding shares. This buyback authorization permits the basic materials company to repurchase up to 9.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total value of $1,555,750.00. Following the completion of the transaction, the chairman now directly owns 486,443 shares in the company, valued at $30,271,347.89. This trade represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.05% of the stock is owned by company insiders.

Institutional Investors Weigh In On ATI

Several hedge funds have recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of ATI in the second quarter worth about $26,000. UMB Bank n.a. lifted its holdings in ATI by 557.0% in the 3rd quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock worth $62,000 after purchasing an additional 791 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in ATI by 294.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock worth $69,000 after purchasing an additional 1,010 shares during the period. Quest Partners LLC acquired a new position in ATI during the second quarter valued at approximately $88,000. Finally, GAMMA Investing LLC raised its position in shares of ATI by 66.0% in the third quarter. GAMMA Investing LLC now owns 3,344 shares of the basic materials company’s stock valued at $224,000 after purchasing an additional 1,330 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.