ATI (NYSE:ATI) Now Covered by Analysts at BTIG Research

BTIG Research assumed coverage on shares of ATI (NYSE:ATI) in a research report sent to investors on Wednesday, Marketbeat.com reports. The brokerage issued a buy rating and a $70.00 target price on the basic materials company’s stock.

A number of other research analysts have also weighed in on the company. Barclays increased their price target on ATI from $55.00 to $70.00 and gave the stock an overweight rating in a research note on Monday, May 6th. Northcoast Research downgraded ATI from a neutral rating to a sell rating in a report on Friday, June 14th. Deutsche Bank Aktiengesellschaft began coverage on ATI in a report on Thursday, April 11th. They set a buy rating and a $70.00 price objective for the company. Finally, KeyCorp upped their price objective on ATI from $58.00 to $66.00 and gave the stock an overweight rating in a report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $63.83.

ATI Price Performance

ATI stock opened at $56.26 on Wednesday. ATI has a 1 year low of $35.03 and a 1 year high of $62.44. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.37 and a current ratio of 2.81. The stock’s 50 day moving average price is $57.36 and its 200 day moving average price is $49.91. The firm has a market cap of $7.00 billion, a P/E ratio of 22.59, a PEG ratio of 1.40 and a beta of 1.12.

ATI (NYSE:ATI) last issued its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. ATI had a return on equity of 23.72% and a net margin of 8.70%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the company posted $0.49 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year. On average, sell-side analysts expect that ATI will post 2.45 earnings per share for the current fiscal year.

Institutional Trading of ATI

Large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. acquired a new stake in ATI in the 4th quarter valued at $1,698,000. Ballentine Partners LLC acquired a new stake in ATI in the 4th quarter valued at $1,100,000. Louisiana State Employees Retirement System acquired a new stake in ATI in the 4th quarter valued at $2,901,000. Bornite Capital Management LP acquired a new stake in ATI in the 4th quarter valued at $10,003,000. Finally, Goldman Sachs Group Inc. increased its holdings in ATI by 31.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,306,784 shares of the basic materials company’s stock valued at $59,419,000 after purchasing an additional 315,506 shares in 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.