ATI (NYSE:ATI) Upgraded at StockNews.com

StockNews.com upgraded shares of ATI (NYSE:ATI) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

Several other equities research analysts have also commented on the company. JPMorgan Chase & Co. upped their target price on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. KeyCorp cut ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Susquehanna lowered their price objective on shares of ATI from $75.00 to $70.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, ATI currently has an average rating of “Moderate Buy” and a consensus price target of $73.71.

ATI Stock Up 0.9 %

Shares of NYSE ATI opened at $56.49 on Wednesday. The company’s 50 day moving average price is $59.31 and its 200-day moving average price is $60.41. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.94. ATI has a 52-week low of $38.04 and a 52-week high of $68.92. The company has a market capitalization of $8.06 billion, a P/E ratio of 21.73, a price-to-earnings-growth ratio of 1.98 and a beta of 1.09.

ATI (NYSE:ATI) last released its earnings results 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 quarter in the previous year, the firm earned $0.55 EPS. ATI’s quarterly revenue was up 2.5% on a year-over-year basis. Equities analysts forecast that ATI will post 2.27 earnings per share for the current year.

ATI declared that its board has authorized a share repurchase 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 repurchase up to 9.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other ATI news, SVP Tina Killough Busch sold 2,598 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total transaction of $155,931.96. Following the transaction, the senior vice president now directly owns 21,553 shares in the company, valued at approximately $1,293,611.06. This trade represents a 10.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chairman now owns 486,443 shares of the company’s stock, valued at approximately $30,271,347.89. The trade was a 4.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,598 shares of company stock worth $4,726,682 over the last three months. 0.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATI. Sequoia Financial Advisors LLC lifted its position 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 buying an additional 172 shares in the last quarter. Beck Capital Management LLC boosted its position in ATI by 0.8% in the second quarter. Beck Capital Management LLC now owns 34,229 shares of the basic materials company’s stock worth $1,898,000 after purchasing an additional 262 shares during the last quarter. KBC Group NV boosted its position in ATI by 12.9% in the third quarter. KBC Group NV now owns 3,362 shares of the basic materials company’s stock worth $225,000 after purchasing an additional 385 shares during the last quarter. Souders Financial Advisors grew its stake in ATI by 6.1% in 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 during the period. Finally, Quarry LP increased its position in shares of ATI by 86.4% during the 3rd quarter. Quarry LP now owns 889 shares of the basic materials company’s stock valued at $59,000 after purchasing an additional 412 shares during 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.