Analysts Set ATI Inc. (NYSE:ATI) Price Target at $73.71

ATI Inc. (NYSE:ATI) has been given an average recommendation of “Moderate Buy” by the eight analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $73.71.

ATI has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. KeyCorp downgraded shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Susquehanna cut their price target on shares of ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th. Finally, Benchmark restated a “buy” rating and set a $80.00 price objective on shares of ATI in a report on Wednesday, August 7th.

ATI Stock Performance

NYSE:ATI opened at $59.30 on Wednesday. The company has a fifty day moving average of $61.08 and a 200-day moving average of $60.59. The firm has a market capitalization of $8.46 billion, a P/E ratio of 22.81, a P/E/G ratio of 2.01 and a beta of 1.08. The company has a quick ratio of 1.44, a current ratio of 2.94 and a debt-to-equity ratio of 0.97. ATI has a twelve month low of $38.04 and a twelve month high of $68.92.

ATI (NYSE:ATI) last released its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share 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 company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. The business’s revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that ATI will post 2.27 EPS for the current year.

ATI declared that its Board of Directors has approved a stock buyback plan on Tuesday, September 3rd that permits the company to repurchase $700.00 million in shares. This repurchase authorization permits the basic materials company to repurchase up to 9.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at ATI

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

Hedge Funds Weigh In On ATI

A number of large investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC raised its position in ATI by 3.3% in 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 period. O Shaughnessy Asset Management LLC increased its position in shares of ATI by 3.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 7,113 shares of the basic materials company’s stock valued at $364,000 after acquiring an additional 224 shares during the period. Beck Capital Management LLC increased its position in shares of ATI by 0.8% in the second quarter. Beck Capital Management LLC now owns 34,229 shares of the basic materials company’s stock valued at $1,898,000 after acquiring an additional 262 shares during the period. KBC Group NV increased its position in shares of ATI by 12.9% in the third quarter. KBC Group NV now owns 3,362 shares of the basic materials company’s stock valued at $225,000 after acquiring an additional 385 shares during the period. Finally, Souders Financial Advisors boosted its stake in shares of ATI by 6.1% during the 3rd quarter. Souders Financial Advisors now owns 7,125 shares of the basic materials company’s stock valued at $477,000 after purchasing an additional 411 shares in the last quarter.

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.