ATI (NYSE:ATI) Hits New 52-Week Low – Should You Sell?

ATI Inc. (NYSE:ATI)’s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $47.25 and last traded at $46.60, with a volume of 514 shares traded. The stock had previously closed at $48.88.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ATI. Barclays upped their price target on ATI from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Benchmark increased their target price on shares of ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Susquehanna lifted their price target on shares of ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a research report on Wednesday, February 5th. Finally, StockNews.com upgraded shares of ATI from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, ATI has a consensus rating of “Moderate Buy” and a consensus target price of $75.00.

ATI Price Performance

The company has a debt-to-equity ratio of 0.88, a current ratio of 2.44 and a quick ratio of 1.32. The company’s 50-day moving average price is $56.30 and its 200-day moving average price is $58.09. The company has a market cap of $6.05 billion, a P/E ratio of 16.83, a P/E/G ratio of 0.85 and a beta of 0.80.

ATI (NYSE:ATI) last announced its earnings results on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.19. ATI had a net margin of 8.43% and a return on equity of 21.16%. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business earned $0.64 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, sell-side analysts predict that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Tina Killough Busch sold 9,900 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $66.41, for a total transaction of $657,459.00. Following the completion of the transaction, the senior vice president now owns 25,994 shares in the company, valued at approximately $1,726,261.54. This represents a 27.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.71% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ATI

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital International Investors increased its position in shares of ATI by 5.4% in the fourth quarter. Capital International Investors now owns 15,901,561 shares of the basic materials company’s stock valued at $875,190,000 after acquiring an additional 817,182 shares during the last quarter. Vanguard Group Inc. increased its position in shares of ATI by 15.2% during the 4th quarter. Vanguard Group Inc. now owns 15,335,409 shares of the basic materials company’s stock worth $844,061,000 after purchasing an additional 2,020,313 shares during the last quarter. Capital World Investors increased its position in shares of ATI by 100.5% during the 4th quarter. Capital World Investors now owns 6,875,576 shares of the basic materials company’s stock worth $378,432,000 after purchasing an additional 3,446,919 shares during the last quarter. Invesco Ltd. raised its stake in shares of ATI by 4.5% during the 4th quarter. Invesco Ltd. now owns 4,696,500 shares of the basic materials company’s stock worth $258,495,000 after purchasing an additional 203,742 shares in the last quarter. Finally, Dendur Capital LP boosted its holdings in shares of ATI by 601.7% in the 4th quarter. Dendur Capital LP now owns 3,567,000 shares of the basic materials company’s stock valued at $196,328,000 after buying an additional 3,058,628 shares during the last quarter.

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.