ATI (NYSE:ATI) Price Target Raised to $84.00 at Deutsche Bank Aktiengesellschaft

ATI (NYSE:ATI) had its price objective boosted by Deutsche Bank Aktiengesellschaft from $81.00 to $84.00 in a research report released on Thursday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the basic materials company’s stock.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. raised their price target on shares of ATI from $65.00 to $75.00 and gave the company an overweight rating in a report on Wednesday, August 21st. Susquehanna began coverage on shares of ATI in a report on Thursday, September 5th. They set a positive rating and a $75.00 target price for the company. Benchmark reaffirmed a buy rating and set a $80.00 target price on shares of ATI in a report on Wednesday, August 7th. BTIG Research began coverage on shares of ATI in a report on Wednesday, June 26th. They set a buy rating and a $70.00 target price for the company. Finally, Northcoast Research lowered shares of ATI from a neutral rating to a sell rating in a report on Friday, June 14th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $74.43.

ATI Price Performance

ATI stock opened at $65.09 on Thursday. ATI has a 52 week low of $35.03 and a 52 week high of $68.92. The firm has a market capitalization of $8.10 billion, a P/E ratio of 26.14, a price-to-earnings-growth ratio of 1.60 and a beta of 1.04. The company has a quick ratio of 1.07, a current ratio of 2.13 and a debt-to-equity ratio of 1.26. The company has a fifty day simple moving average of $63.46 and a two-hundred day simple moving average of $58.68.

ATI (NYSE:ATI) last posted its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The company had revenue of $1.10 billion for 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%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 EPS. Analysts anticipate that ATI will post 2.48 earnings per share for the current fiscal year.

ATI announced that its Board of Directors has approved a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction on Monday, September 16th. The shares were sold at an average price of $61.61, for a total transaction of $1,540,250.00. Following the sale, the chairman now owns 511,443 shares of the company’s stock, valued at $31,510,003.23. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.71% of the stock is owned by insiders.

Institutional Investors Weigh In On ATI

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATI. Point72 Asset Management L.P. boosted its stake in ATI by 1,393.2% during the 4th quarter. Point72 Asset Management L.P. now owns 1,539,536 shares of the basic materials company’s stock worth $70,003,000 after purchasing an additional 1,436,436 shares during the last quarter. Millennium Management LLC boosted its position in shares of ATI by 165.1% during the 2nd quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company’s stock valued at $107,846,000 after acquiring an additional 1,211,273 shares during the last quarter. Capital World Investors boosted its position in shares of ATI by 43.9% during the 1st quarter. Capital World Investors now owns 2,840,962 shares of the basic materials company’s stock valued at $145,372,000 after acquiring an additional 866,310 shares during the last quarter. Frontier Capital Management Co. LLC lifted its position in ATI by 19.5% in the fourth quarter. Frontier Capital Management Co. LLC now owns 3,645,644 shares of the basic materials company’s stock valued at $165,767,000 after buying an additional 594,644 shares during the last quarter. Finally, Senator Investment Group LP lifted its position in ATI by 167.6% in the second quarter. Senator Investment Group LP now owns 891,138 shares of the basic materials company’s stock valued at $49,414,000 after buying an additional 558,138 shares during the last quarter.

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.