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

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

ATI has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted 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. Deutsche Bank Aktiengesellschaft raised their price objective on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. KeyCorp downgraded shares of ATI from an “overweight” rating to a “sector weight” rating in a research 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, StockNews.com raised shares of ATI from a “sell” rating to a “hold” rating in a research note on Wednesday, December 11th.

ATI Stock Performance

Shares of ATI opened at $55.25 on Friday. The company has a market capitalization of $7.88 billion, a PE ratio of 21.25, a PEG ratio of 1.95 and a beta of 1.09. 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 company’s 50 day moving average price is $58.98 and its 200 day moving average price is $60.33. ATI has a 52 week low of $38.04 and a 52 week high of $68.92.

ATI (NYSE:ATI) last posted its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 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 company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the firm earned $0.55 earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. Research analysts expect that ATI will post 2.27 EPS for the current fiscal year.

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

Insider Transactions at ATI

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the transaction, the chairman now directly owns 486,443 shares in the company, valued at $30,271,347.89. The trade was a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Tina Killough Busch sold 2,598 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total value of $155,931.96. Following the completion of the sale, the senior vice president now owns 21,553 shares of the company’s stock, valued at $1,293,611.06. This represents a 10.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,598 shares of company stock worth $3,186,432 over the last three months. 1.05% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ATI

A number of institutional investors have recently bought and sold shares of ATI. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of ATI by 22.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,397 shares of the basic materials company’s stock worth $798,000 after acquiring an additional 2,646 shares during the period. Raymond James & Associates lifted its stake in ATI by 318.6% during the second quarter. Raymond James & Associates now owns 46,050 shares of the basic materials company’s stock worth $2,553,000 after purchasing an additional 35,048 shares during the period. Fifth Third Wealth Advisors LLC acquired a new stake in ATI during the second quarter valued at approximately $226,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of ATI by 3.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,951 shares of the basic materials company’s stock valued at $1,550,000 after purchasing an additional 1,028 shares during the period. Finally, Forum Financial Management LP acquired a new position in shares of ATI in the 2nd quarter worth approximately $211,000.

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.