ATI Inc. (NYSE:ATI) Receives Average Rating of “Moderate Buy” from Analysts

Shares of ATI Inc. (NYSE:ATI) have earned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $74.43.

A number of equities research analysts recently weighed in on ATI shares. JPMorgan Chase & Co. boosted their price target on shares of ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Susquehanna began coverage on shares of ATI in a report on Thursday, September 5th. They set a “positive” rating and a $75.00 price objective for the company. Benchmark restated a “buy” rating and set a $80.00 price objective on shares of ATI in a report on Wednesday, August 7th. Finally, KeyCorp cut shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday.

ATI Trading Down 0.2 %

Shares of NYSE ATI opened at $61.38 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.07 and a debt-to-equity ratio of 1.26. The company has a market cap of $7.64 billion, a PE ratio of 24.65, a P/E/G ratio of 1.42 and a beta of 1.04. The company has a 50-day moving average of $63.40 and a two-hundred day moving average of $60.00. ATI has a 1-year low of $36.65 and a 1-year high of $68.92.

ATI (NYSE:ATI) last posted its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The business 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%. ATI’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 earnings per share. As a group, equities analysts expect that ATI will post 2.47 earnings per share for the current fiscal year.

ATI declared that its board has authorized a stock buyback 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 buy up to 9.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction that occurred on 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 owns 486,443 shares in the company, valued at $30,271,347.89. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. New York State Teachers Retirement System lifted its position in shares of ATI by 2.4% in the third quarter. New York State Teachers Retirement System now owns 157,480 shares of the basic materials company’s stock worth $10,537,000 after purchasing an additional 3,760 shares in the last quarter. Pallas Capital Advisors LLC bought a new stake in shares of ATI in the third quarter worth $307,000. Wealth Enhancement Advisory Services LLC raised its position in ATI by 13.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,333 shares of the basic materials company’s stock worth $1,093,000 after acquiring an additional 1,936 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in ATI by 3.3% during the third quarter. Sequoia Financial Advisors LLC now owns 5,383 shares of the basic materials company’s stock worth $360,000 after acquiring an additional 172 shares in the last quarter. Finally, Jade Capital Advisors LLC bought a new stake in ATI during the third quarter worth $1,338,000.

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.