ATI (NYSE:ATI) Raised to “Hold” at StockNews.com

ATI (NYSE:ATI) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Several other research firms have also recently issued reports on ATI. KeyCorp cut ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft raised their target price on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. lifted their price target on shares of ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Susquehanna cut their price objective on shares of ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, ATI has an average rating of “Moderate Buy” and an average target price of $73.71.

ATI Trading Down 2.2 %

ATI opened at $56.02 on Wednesday. ATI has a 1-year low of $38.04 and a 1-year high of $68.92. The stock has a market capitalization of $7.99 billion, a PE ratio of 21.55, a PEG ratio of 1.99 and a beta of 1.09. The company has a current ratio of 2.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. The firm has a 50-day moving average price of $59.49 and a two-hundred day moving average price of $60.44.

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

ATI declared that its board has authorized a stock repurchase program on Tuesday, September 3rd that permits the company to buyback $700.00 million in outstanding shares. This buyback authorization permits the basic materials company to reacquire up to 9.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at ATI

In other news, SVP Tina Killough Busch sold 2,598 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total transaction of $155,931.96. Following the sale, the senior vice president now owns 21,553 shares of the company’s stock, valued at $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 SEC, which is available through this hyperlink. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the business’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 completion of the transaction, the chairman now owns 486,443 shares of the company’s stock, valued at $30,271,347.89. This represents a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,598 shares of company stock worth $4,726,682. 0.71% of the stock is currently owned by company insiders.

Institutional Trading of ATI

Several hedge funds have recently bought and sold shares of ATI. Mountaineer Partners Management LLC increased its position in shares of ATI by 4,401.2% during 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 in the last quarter. Millennium Management LLC boosted its stake in ATI by 165.1% in the 2nd quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company’s stock worth $107,846,000 after purchasing an additional 1,211,273 shares during the period. Senator Investment Group LP increased its holdings in 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 in the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of ATI in the 2nd quarter valued at about $28,896,000. Finally, Forest Avenue Capital Management LP acquired a new stake in shares of ATI in the 3rd quarter valued at 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.