ATI (NYSE:ATI) Releases Earnings Results, Misses Expectations By $0.06 EPS

ATI (NYSE:ATI) issued its quarterly earnings data on Tuesday. The basic materials company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.06), Briefing.com reports. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.12 billion. ATI had a return on equity of 23.05% and a net margin of 8.74%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 EPS.

ATI Price Performance

ATI opened at $54.19 on Thursday. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.13 and a quick ratio of 1.07. The stock’s 50 day simple moving average is $63.02 and its 200 day simple moving average is $60.20. The firm has a market cap of $6.74 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 1.38 and a beta of 1.04. ATI has a 1 year low of $36.70 and a 1 year high of $68.92.

Insider Buying and Selling at ATI

In other 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 transaction, the chairman now owns 486,443 shares in the company, valued at approximately $30,271,347.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.05% of the company’s stock.

ATI declared that its board has initiated a stock repurchase program 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 purchase up to 9.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Benchmark reissued a “buy” rating and issued a $80.00 price target on shares of ATI in a report on Wednesday, August 7th. Susquehanna lowered their price target on ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price target on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. raised their price objective on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, KeyCorp downgraded ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, ATI presently has a consensus rating of “Moderate Buy” and an average target price of $73.71.

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.