ATI (NYSE:ATI) Stock Price Expected to Rise, Benchmark Analyst Says

ATI (NYSE:ATI) had its price objective upped by research analysts at Benchmark from $80.00 to $81.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. Benchmark’s target price suggests a potential upside of 33.06% from the stock’s previous close.

Several other equities research analysts have also issued reports on ATI. KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. StockNews.com raised shares of ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Susquehanna increased their price objective on shares of ATI from $70.00 to $73.00 and gave the company a “positive” rating in a report on Wednesday, February 5th. Finally, Barclays increased their price objective on shares of ATI from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $75.00.

ATI Price Performance

ATI opened at $60.88 on Thursday. ATI has a 52-week low of $44.15 and a 52-week high of $68.92. The stock has a market capitalization of $8.68 billion, a P/E ratio of 23.87, a P/E/G ratio of 1.69 and a beta of 1.10. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.44 and a current ratio of 2.44. The company’s 50-day simple moving average is $57.51 and its two-hundred day simple moving average is $60.18.

ATI (NYSE:ATI) last released its quarterly earnings results on Tuesday, February 4th. The basic materials company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.60 by $0.19. ATI had a net margin of 8.43% and a return on equity of 21.16%. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, analysts predict that ATI will post 2.87 EPS for the current year.

Insider Activity

In related news, SVP Tina Killough Busch sold 9,900 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $66.41, for a total value of $657,459.00. Following the completion of the sale, the senior vice president now directly owns 25,994 shares in the company, valued at $1,726,261.54. This trade represents a 27.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was 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 owns 436,443 shares of the company’s stock, valued at approximately $25,745,772.57. This represents a 5.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,498 shares of company stock worth $2,288,141. 0.71% of the stock is currently owned by insiders.

Institutional Trading of ATI

A number of institutional investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC increased its stake in shares of ATI by 3.3% during the third quarter. Sequoia Financial Advisors LLC now owns 5,383 shares of the basic materials company’s stock valued at $360,000 after buying an additional 172 shares during the period. CIBC Asset Management Inc increased its stake in shares of ATI by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 3,915 shares of the basic materials company’s stock valued at $215,000 after buying an additional 192 shares during the period. Keystone Financial Group increased its stake in shares of ATI by 5.3% during the fourth quarter. Keystone Financial Group now owns 3,950 shares of the basic materials company’s stock valued at $217,000 after buying an additional 200 shares during the period. Pier 88 Investment Partners LLC increased its stake in shares of ATI by 3.0% during the fourth quarter. Pier 88 Investment Partners LLC now owns 7,620 shares of the basic materials company’s stock valued at $419,000 after buying an additional 220 shares during the period. Finally, Hantz Financial Services Inc. increased its stake in shares of ATI by 2.1% during the fourth quarter. Hantz Financial Services Inc. now owns 11,680 shares of the basic materials company’s stock valued at $643,000 after buying an additional 240 shares during the period.

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.