Brokerages Set ATI Inc. (NYSE:ATI) PT at $73.71

Shares of ATI Inc. (NYSE:ATI) have earned a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $73.71.

ATI has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. KeyCorp lowered ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Susquehanna reduced their price target on shares of ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, StockNews.com raised shares of ATI from a “sell” rating to a “hold” rating in a research note on Wednesday, December 11th.

ATI Trading Down 2.3 %

Shares of ATI stock opened at $55.25 on Friday. ATI has a 12-month low of $38.04 and a 12-month high of $68.92. The stock has a market capitalization of $7.88 billion, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 1.95 and a beta of 1.09. The company has a 50-day simple moving average of $58.98 and a 200 day simple moving average of $60.33. The company has a quick ratio of 1.44, a current ratio of 2.94 and a debt-to-equity ratio of 0.97.

ATI (NYSE:ATI) last posted its quarterly earnings data 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). ATI had a return on equity of 21.39% and a net margin of 8.85%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the business posted $0.55 EPS. The business’s quarterly revenue was up 2.5% on a year-over-year basis. Research analysts expect that ATI will post 2.27 earnings per share for the current fiscal year.

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

Insider Activity

In other ATI news, SVP Tina Killough Busch sold 2,598 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total value of $155,931.96. Following the transaction, the senior vice president now owns 21,553 shares of the company’s stock, valued at approximately $1,293,611.06. This represents a 10.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $58.99, for a total value of $1,474,750.00. Following the transaction, the chairman now owns 436,443 shares of the company’s stock, valued at $25,745,772.57. The trade was a 5.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,598 shares of company stock valued at $3,186,432. 1.05% of the stock is currently owned by insiders.

Institutional Trading of ATI

A number of hedge funds have recently modified their holdings of ATI. Wealth Enhancement Advisory Services LLC grew its holdings in ATI by 22.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 14,397 shares of the basic materials company’s stock valued at $798,000 after purchasing an additional 2,646 shares during the period. Raymond James & Associates raised its holdings in ATI by 318.6% in the second quarter. Raymond James & Associates now owns 46,050 shares of the basic materials company’s stock worth $2,553,000 after purchasing an additional 35,048 shares during the period. Fifth Third Wealth Advisors LLC bought a new position in shares of ATI during the second quarter worth $226,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of ATI by 3.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,951 shares of the basic materials company’s stock valued at $1,550,000 after buying an additional 1,028 shares during the period. Finally, Forum Financial Management LP bought a new stake in shares of ATI in the 2nd quarter valued at $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.