ATI (NYSE:ATI) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of ATI (NYSE:ATI) from a sell rating to a hold rating in a research note published on Friday morning.

A number of other equities analysts have also recently commented on the company. Susquehanna reduced their target price on ATI from $75.00 to $70.00 and set a “positive” rating for the company in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft boosted their price target on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, KeyCorp lowered ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, ATI currently has an average rating of “Moderate Buy” and an average price target of $73.71.

ATI Price Performance

ATI stock opened at $57.16 on Friday. The stock has a market capitalization of $8.15 billion, a P/E ratio of 21.99, a P/E/G ratio of 1.47 and a beta of 1.12. The company’s fifty day moving average price is $57.00 and its 200 day moving average price is $60.12. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.94. ATI has a 1 year low of $38.04 and a 1 year high of $68.92.

ATI (NYSE:ATI) last posted 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 company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the previous year, the business earned $0.55 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities research analysts anticipate that ATI will post 2.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Tina Killough Busch sold 2,598 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $60.02, for a total transaction of $155,931.96. Following the completion of the sale, the senior vice president now directly owns 21,553 shares in the company, valued at approximately $1,293,611.06. This trade represents a 10.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $58.99, for a total transaction of $1,474,750.00. Following the transaction, the chairman now directly owns 436,443 shares in the company, valued at $25,745,772.57. This trade represents a 5.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by company insiders.

Institutional Trading of ATI

A number of hedge funds and other institutional investors have recently made changes to their positions in ATI. Mountaineer Partners Management LLC grew its position in ATI by 4,401.2% in the third quarter. Mountaineer Partners Management LLC now owns 9,410,891 shares of the basic materials company’s stock worth $629,683,000 after acquiring an additional 9,201,818 shares during the period. Millennium Management LLC lifted its stake in shares of ATI by 165.1% in 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 purchasing an additional 1,211,273 shares during the last quarter. Senator Investment Group LP grew its holdings in shares of ATI by 167.6% during the 2nd quarter. Senator Investment Group LP now owns 891,138 shares of the basic materials company’s stock worth $49,414,000 after purchasing an additional 558,138 shares during the period. Driehaus Capital Management LLC acquired a new stake in shares of ATI during the 2nd quarter worth about $28,896,000. Finally, Forest Avenue Capital Management LP acquired a new stake in shares of ATI during the 3rd quarter worth about $28,700,000.

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.