ATI (NYSE:ATI) Price Target Increased to $84.00 by Analysts at Deutsche Bank Aktiengesellschaft

ATI (NYSE:ATI) had its price target hoisted by Deutsche Bank Aktiengesellschaft from $81.00 to $84.00 in a report published on Thursday, Benzinga reports. The brokerage currently has a buy rating on the basic materials company’s stock.

A number of other equities research analysts have also issued reports on ATI. Northcoast Research lowered shares of ATI from a neutral rating to a sell rating in a report on Friday, June 14th. KeyCorp upped their price objective on shares of ATI from $66.00 to $67.00 and gave the company an overweight rating in a research note on Monday, August 12th. Benchmark reiterated a buy rating and issued a $80.00 price objective on shares of ATI in a report on Wednesday, August 7th. Susquehanna assumed coverage on ATI in a report on Thursday, September 5th. They set a positive rating and a $75.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price target on ATI from $65.00 to $75.00 and gave the company an overweight rating in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $74.43.

ATI Price Performance

ATI stock opened at $65.09 on Thursday. The stock has a market capitalization of $8.10 billion, a P/E ratio of 26.14, a P/E/G ratio of 1.60 and a beta of 1.04. The company’s fifty day moving average price is $63.46 and its 200 day moving average price is $58.75. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.07 and a current ratio of 2.13. ATI has a 1 year low of $35.03 and a 1 year high of $68.92.

ATI (NYSE:ATI) last released its earnings results on Tuesday, August 6th. The basic materials company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. ATI had a net margin of 8.74% and a return on equity of 23.05%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.59 earnings per share. As a group, equities research analysts anticipate that ATI will post 2.48 earnings per share for the current fiscal year.

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

Insider Activity at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction 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 owns 511,443 shares in the company, valued at $31,510,003.23. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ATI

Institutional investors and hedge funds have recently made changes to their positions in the stock. Capital International Investors boosted its position in shares of ATI by 1.3% during the 1st 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 period. Vanguard Group Inc. boosted its position in shares of ATI by 0.9% during the first quarter. Vanguard Group Inc. now owns 14,338,873 shares of the basic materials company’s stock worth $733,720,000 after buying an additional 132,478 shares during the period. Frontier Capital Management Co. LLC boosted its position in shares of ATI by 19.5% during the fourth quarter. Frontier Capital Management Co. LLC now owns 3,645,644 shares of the basic materials company’s stock worth $165,767,000 after buying an additional 594,644 shares during the period. Capital World Investors grew its stake in shares of ATI by 43.9% in 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 buying an additional 866,310 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of ATI by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,506,609 shares of the basic materials company’s stock valued at $139,003,000 after buying an additional 102,691 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.