ATI Inc. (NYSE:ATI) Receives $73.71 Average Target Price from Analysts

ATI Inc. (NYSE:ATI) has been given an average recommendation of “Moderate Buy” by the eight ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $73.71.

Several brokerages have recently weighed in on ATI. Susquehanna lowered 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. JPMorgan Chase & Co. increased their price objective on ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Benchmark reaffirmed a “buy” rating and issued a $80.00 price target on shares of ATI in a research note on Wednesday, August 7th. KeyCorp downgraded ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd.

Insiders Place Their Bets

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’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 sale, the chairman now owns 486,443 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.05% of the company’s stock.

Institutional Investors Weigh In On ATI

Several institutional investors have recently modified their holdings of ATI. Quarry LP purchased a new position in ATI in the second quarter valued at $26,000. UMB Bank n.a. lifted its stake in ATI by 557.0% during the third 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 lifted its stake 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 last quarter. Quest Partners LLC acquired a new stake in ATI during the second quarter worth approximately $88,000. Finally, GAMMA Investing LLC lifted its position in shares of ATI by 66.0% during the 3rd quarter. GAMMA Investing LLC now owns 3,344 shares of the basic materials company’s stock worth $224,000 after buying an additional 1,330 shares during the last quarter.

ATI Trading Up 0.8 %

Shares of ATI opened at $60.63 on Wednesday. ATI has a 52-week low of $38.04 and a 52-week high of $68.92. The stock has a market cap of $8.65 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 2.08 and a beta of 1.08. The firm’s fifty day moving average is $61.05 and its two-hundred day moving average is $60.59. 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 announced its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the company posted $0.55 EPS. The firm’s revenue was up 2.5% on a year-over-year basis. Research analysts forecast that ATI will post 2.27 earnings per share for the current fiscal year.

ATI declared that its Board of Directors has approved a stock buyback plan on Tuesday, September 3rd that allows the company to repurchase $700.00 million in shares. This repurchase authorization allows the basic materials company to reacquire up to 9.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.