ATI (NYSE:ATI) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of ATI (NYSE:ATI) from a sell rating to a hold rating in a research note published on Wednesday.

Several other equities research analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Susquehanna cut their target price on ATI from $75.00 to $70.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. KeyCorp cut ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. raised their price objective on shares of ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, ATI currently has an average rating of “Moderate Buy” and an average target price of $73.71.

ATI Trading Up 0.9 %

Shares of ATI opened at $56.49 on Wednesday. ATI has a fifty-two week low of $38.04 and a fifty-two week high of $68.92. The business has a 50-day moving average of $59.31 and a 200 day moving average of $60.41. The firm has a market cap of $8.06 billion, a P/E ratio of 21.73, a price-to-earnings-growth ratio of 1.98 and a beta of 1.09. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.94.

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

ATI announced that its board has authorized a stock 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 generally an indication that the company’s board believes its stock is undervalued.

Insider Transactions at ATI

In related news, SVP Tina Killough Busch sold 2,598 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total transaction of $155,931.96. Following the transaction, the senior vice president now directly owns 21,553 shares of the company’s stock, valued at approximately $1,293,611.06. This trade represents a 10.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total value of $1,555,750.00. Following the completion of the sale, the chairman now directly owns 486,443 shares of the company’s stock, valued at approximately $30,271,347.89. This represents a 4.89 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,598 shares of company stock valued at $4,726,682. Insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On ATI

A number of hedge funds have recently made changes to their positions in the business. Quarry LP bought a new position in shares of ATI during the 2nd quarter valued at $26,000. UMB Bank n.a. increased its holdings in shares of ATI by 557.0% in the third quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock worth $62,000 after buying an additional 791 shares during the period. Quest Partners LLC bought a new stake in shares of ATI in the 2nd quarter valued at about $88,000. nVerses Capital LLC purchased a new stake in ATI during the 2nd quarter valued at about $205,000. Finally, Forum Financial Management LP bought a new position in ATI during the 2nd quarter worth approximately $211,000.

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.