ATI (NYSE:ATI) PT Lowered to $70.00 at Susquehanna

ATI (NYSE:ATI) had its target price cut by investment analysts at Susquehanna from $75.00 to $70.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “positive” rating on the basic materials company’s stock. Susquehanna’s price objective suggests a potential upside of 24.91% from the stock’s previous close.

Several other research firms also recently issued reports on ATI. Benchmark reaffirmed a “buy” rating and set a $80.00 price objective on shares of ATI in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lifted their price target on ATI from $81.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. KeyCorp cut ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. increased 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, ATI presently has an average rating of “Moderate Buy” and an average price target of $73.71.

ATI Trading Down 1.4 %

NYSE:ATI traded down $0.78 during mid-day trading on Wednesday, reaching $56.04. The company’s stock had a trading volume of 97,672 shares, compared to its average volume of 1,428,163. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.13 and a quick ratio of 1.07. The stock has a market cap of $6.97 billion, a P/E ratio of 22.03, a P/E/G ratio of 1.38 and a beta of 1.04. The company’s fifty day simple moving average is $63.24 and its two-hundred day simple moving average is $60.24. ATI has a twelve month low of $36.70 and a twelve month high of $68.92.

ATI (NYSE:ATI) last issued 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). The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.12 billion. ATI had a net margin of 8.74% and a return on equity of 23.05%. The business’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 earnings per share. On average, equities analysts predict that ATI will post 2.47 EPS for the current year.

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

Insider Activity

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total value of $1,555,750.00. Following the completion of the sale, the chairman now owns 486,443 shares of the company’s stock, valued at $30,271,347.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.05% of the company’s stock.

Institutional Trading of ATI

Several institutional investors have recently made changes to their positions in ATI. New York State Teachers Retirement System grew its holdings in ATI by 2.4% during the 3rd quarter. New York State Teachers Retirement System now owns 157,480 shares of the basic materials company’s stock worth $10,537,000 after acquiring an additional 3,760 shares in the last quarter. Pallas Capital Advisors LLC purchased a new stake in ATI during the third quarter worth $307,000. Wealth Enhancement Advisory Services LLC boosted its position in ATI by 13.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,333 shares of the basic materials company’s stock valued at $1,093,000 after acquiring an additional 1,936 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of ATI by 3.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,383 shares of the basic materials company’s stock worth $360,000 after purchasing an additional 172 shares during the last quarter. Finally, Jade Capital Advisors LLC bought a new stake in ATI during the third quarter valued at about $1,338,000.

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.