ATI Inc. (NYSE:ATI) Sees Large Growth in Short Interest

ATI Inc. (NYSE:ATI) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 7,390,000 shares, a growth of 7.9% from the May 31st total of 6,850,000 shares. Approximately 6.0% of the shares of the company are sold short. Based on an average daily volume of 1,390,000 shares, the days-to-cover ratio is currently 5.3 days.

Institutional Trading of ATI

A number of hedge funds have recently added to or reduced their stakes in the stock. Capital International Investors lifted its holdings in shares of ATI by 1.3% during the first quarter. Capital International Investors now owns 15,409,897 shares of the basic materials company’s stock worth $788,524,000 after purchasing an additional 203,012 shares during the period. Vanguard Group Inc. lifted its holdings in shares of ATI by 0.9% during the first quarter. Vanguard Group Inc. now owns 14,338,873 shares of the basic materials company’s stock worth $733,720,000 after purchasing an additional 132,478 shares during the period. Frontier Capital Management Co. LLC lifted its holdings in shares of ATI by 19.5% during the fourth quarter. Frontier Capital Management Co. LLC now owns 3,645,644 shares of the basic materials company’s stock worth $165,767,000 after purchasing an additional 594,644 shares during the period. Capital World Investors lifted its holdings in shares of ATI by 43.9% during the first quarter. Capital World Investors now owns 2,840,962 shares of the basic materials company’s stock worth $145,372,000 after purchasing an additional 866,310 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of ATI by 6.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,317,722 shares of the basic materials company’s stock worth $105,394,000 after purchasing an additional 139,694 shares during the period.

ATI Stock Performance

Shares of ATI stock opened at $57.49 on Thursday. ATI has a fifty-two week low of $35.03 and a fifty-two week high of $62.44. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.81 and a quick ratio of 1.37. The firm has a market capitalization of $7.15 billion, a P/E ratio of 23.09, a P/E/G ratio of 1.42 and a beta of 1.07. The company’s 50 day moving average price is $57.96 and its two-hundred day moving average price is $50.41.

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

Analysts Set New Price Targets

ATI has been the topic of several recent research reports. BTIG Research initiated coverage on shares of ATI in a report on Wednesday, June 26th. They set a “buy” rating and a $70.00 target price on the stock. KeyCorp raised their target price on shares of ATI from $58.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, May 28th. Barclays raised their target price on shares of ATI from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Northcoast Research cut shares of ATI from a “neutral” rating to a “sell” rating in a research note on Friday, June 14th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of ATI in a research note on Thursday, April 11th. They issued a “buy” rating and a $70.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $63.83.

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.