ATI Inc. (NYSE:ATI) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of ATI Inc. (NYSE:ATI) have received an average rating of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $73.71.

A number of equities analysts have recently issued reports on the company. Susquehanna lowered their price objective on ATI from $75.00 to $70.00 and set a “positive” rating for the company in a research report on Wednesday. Benchmark reissued a “buy” rating and issued a $80.00 price target on shares of ATI in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft increased their price objective on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. boosted their price target on shares of ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, KeyCorp downgraded ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th.

Insider Activity

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total value of $1,555,750.00. Following the completion of the transaction, the chairman now directly owns 486,443 shares of the company’s stock, valued at $30,271,347.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On ATI

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC raised its position in ATI by 202.7% during the second quarter. SG Americas Securities LLC now owns 27,450 shares of the basic materials company’s stock valued at $1,522,000 after purchasing an additional 18,381 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in ATI in the 1st quarter worth approximately $763,000. First Hawaiian Bank purchased a new stake in ATI in the second quarter worth approximately $757,000. Assenagon Asset Management S.A. grew its position in ATI by 17.6% during the second quarter. Assenagon Asset Management S.A. now owns 528,615 shares of the basic materials company’s stock valued at $29,312,000 after acquiring an additional 79,285 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its stake in shares of ATI by 20.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 126,978 shares of the basic materials company’s stock worth $6,496,000 after acquiring an additional 21,887 shares in the last quarter.

ATI Trading Up 1.3 %

Shares of ATI stock opened at $53.40 on Friday. ATI has a 1 year low of $37.94 and a 1 year high of $68.92. The firm has a market capitalization of $7.62 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.29 and a beta of 1.08. The company has a current ratio of 2.94, a quick ratio of 1.07 and a debt-to-equity ratio of 0.97. The firm’s 50 day moving average is $62.49 and its 200 day moving average is $60.16.

ATI (NYSE:ATI) last released its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.06). ATI had a net margin of 8.85% and a return on equity of 21.39%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the company earned $0.55 EPS. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities research analysts forecast that ATI will post 2.27 earnings per share for the current fiscal year.

ATI declared that its Board of Directors has approved a stock repurchase program on Tuesday, September 3rd that authorizes the company to repurchase $700.00 million in shares. This repurchase authorization authorizes the basic materials company to buy up to 9.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership 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.