ATI Inc. (NYSE:ATI) Given Average Rating of “Moderate Buy” by Analysts

ATI Inc. (NYSE:ATI) has earned an average recommendation of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $73.71.

Several brokerages have recently commented on ATI. Benchmark restated a “buy” rating and set a $80.00 price objective on shares of ATI in a research report on Wednesday, August 7th. Susquehanna lowered their price objective on ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft boosted their price target on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, KeyCorp cut shares of ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th.

Insider Transactions at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $61.61, for a total value of $1,540,250.00. Following the sale, the chairman now directly owns 511,443 shares in the company, valued at approximately $31,510,003.23. This represents a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.71% of the company’s stock.

Institutional Trading of ATI

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital International Investors grew its holdings in shares of ATI by 1.3% in 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 last quarter. Vanguard Group Inc. grew its stake in ATI by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 14,338,873 shares of the basic materials company’s stock worth $733,720,000 after acquiring an additional 132,478 shares in the last quarter. 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 during the period. Capital World Investors raised its stake 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 valued at $145,372,000 after acquiring an additional 866,310 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of ATI by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,506,609 shares of the basic materials company’s stock valued at $139,003,000 after purchasing an additional 102,691 shares during the period.

ATI Stock Performance

NYSE:ATI opened at $58.23 on Wednesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.94. The stock has a 50-day simple moving average of $61.28 and a two-hundred day simple moving average of $60.62. The firm has a market capitalization of $8.31 billion, a PE ratio of 22.40, a P/E/G ratio of 1.94 and a beta of 1.08. ATI has a 52-week low of $38.04 and a 52-week high of $68.92.

ATI (NYSE:ATI) last announced its quarterly earnings data 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 net margin of 8.85% and a return on equity of 21.39%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the firm posted $0.55 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. Analysts forecast that ATI will post 2.27 EPS for the current year.

ATI announced that its board has initiated a stock repurchase plan on Tuesday, September 3rd that authorizes the company to repurchase $700.00 million in shares. This repurchase authorization authorizes the basic materials company to purchase up to 9.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

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.