ATI (NYSE:ATI) Lowered to “Sell” Rating by StockNews.com

StockNews.com cut shares of ATI (NYSE:ATI) from a hold rating to a sell rating in a research note issued to investors on Monday morning.

A number of other brokerages have also recently commented on ATI. Deutsche Bank Aktiengesellschaft increased their target price on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Susquehanna cut their price objective on shares of ATI from $75.00 to $70.00 and set a “positive” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. KeyCorp cut ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Finally, Benchmark reissued a “buy” rating and set a $80.00 price objective on shares of ATI in a research note on Wednesday, August 7th. Two equities research analysts have 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 data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $73.71.

ATI Price Performance

Shares of NYSE ATI opened at $59.70 on Monday. The firm has a market cap of $8.52 billion, a PE ratio of 22.96, a PEG ratio of 2.08 and a beta of 1.08. The firm has a fifty day moving average of $60.82 and a 200 day moving average of $60.58. 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 one year low of $38.04 and a one year high of $68.92.

ATI (NYSE:ATI) last issued its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). ATI had a return on equity of 21.39% and a net margin of 8.85%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the firm earned $0.55 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. As a group, research analysts predict that ATI will post 2.27 EPS for the current fiscal year.

ATI declared that its board has approved a share buyback plan on Tuesday, September 3rd that authorizes the company to repurchase $700.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to reacquire up to 9.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the sale, the chairman now owns 486,443 shares of the company’s stock, valued at approximately $30,271,347.89. This represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On ATI

Several institutional investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC grew its stake in ATI by 3.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,383 shares of the basic materials company’s stock worth $360,000 after buying an additional 172 shares during the last quarter. Beck Capital Management LLC raised its stake in shares of ATI by 0.8% during the second quarter. Beck Capital Management LLC now owns 34,229 shares of the basic materials company’s stock worth $1,898,000 after purchasing an additional 262 shares during the last quarter. KBC Group NV lifted its holdings in shares of ATI by 12.9% during the third quarter. KBC Group NV now owns 3,362 shares of the basic materials company’s stock worth $225,000 after purchasing an additional 385 shares during the period. Souders Financial Advisors grew its position in ATI by 6.1% in the 3rd quarter. Souders Financial Advisors now owns 7,125 shares of the basic materials company’s stock valued at $477,000 after buying an additional 411 shares during the last quarter. Finally, Quarry LP increased its stake in ATI by 86.4% in the 3rd quarter. Quarry LP now owns 889 shares of the basic materials company’s stock valued at $59,000 after buying an additional 412 shares during the period.

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.