ATI (NYSE:ATI) Stock Rating Lowered by StockNews.com

ATI (NYSE:ATIGet Free Report) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

A number of other research analysts have also weighed in on ATI. Susquehanna decreased their price target on shares of ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research note on Wednesday, October 30th. KeyCorp downgraded shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $73.71.

Check Out Our Latest Stock Report on ATI

ATI Price Performance

Shares of ATI opened at $57.84 on Wednesday. The business’s 50-day moving average is $57.05 and its two-hundred day moving average is $60.16. The company has a market capitalization of $8.25 billion, a P/E ratio of 22.25, a P/E/G ratio of 1.53 and a beta of 1.12. 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 fifty-two week low of $38.04 and a fifty-two week high of $68.92.

ATI (NYSE:ATIGet Free Report) last posted its earnings results on Tuesday, October 29th. The basic materials company reported $0.60 EPS 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 business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the business earned $0.55 earnings per share. ATI’s revenue was up 2.5% on a year-over-year basis. Research analysts predict that ATI will post 2.28 earnings per share for the current year.

Insiders Place Their Bets

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total value of $1,474,750.00. Following the completion of the sale, the chairman now directly owns 436,443 shares of the company’s stock, valued at $25,745,772.57. The trade was a 5.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Tina Killough Busch sold 2,598 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $1,293,611.06. This trade represents a 10.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On ATI

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mountaineer Partners Management LLC raised its holdings in shares of 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 valued at $629,683,000 after buying an additional 9,201,818 shares during the last quarter. Forest Avenue Capital Management LP acquired a new position in ATI during the third quarter worth about $28,700,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in ATI by 177.7% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 451,982 shares of the basic materials company’s stock worth $30,242,000 after buying an additional 289,229 shares during the period. Holocene Advisors LP acquired a new position in ATI during the third quarter worth about $18,928,000. Finally, Artemis Investment Management LLP purchased a new stake in shares of ATI in the fourth quarter valued at about $8,103,000.

About ATI

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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.

Further Reading

Analyst Recommendations for ATI (NYSE:ATI)

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