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

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

Several research analysts recently issued reports on ATI shares. Deutsche Bank Aktiengesellschaft upped their target price on ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. StockNews.com downgraded shares of ATI from a “hold” rating to a “sell” rating in a report on Thursday. KeyCorp cut shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Finally, Susquehanna cut their price objective on ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th.

ATI Stock Down 0.6 %

Shares of NYSE:ATI opened at $55.24 on Thursday. The company has a quick ratio of 1.44, a current ratio of 2.94 and a debt-to-equity ratio of 0.97. The business’s 50 day moving average is $56.96 and its 200 day moving average is $60.12. The stock has a market cap of $7.88 billion, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. ATI has a 52-week low of $38.04 and a 52-week high of $68.92.

ATI (NYSE:ATI) last announced its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the business posted $0.55 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. Sell-side analysts predict that ATI will post 2.27 EPS for the current year.

Insider Buying and Selling at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $58.99, for a total value of $1,474,750.00. Following the sale, the chairman now directly owns 436,443 shares of the company’s stock, valued at $25,745,772.57. The trade was a 5.42 % 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 stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $60.02, for a total value of $155,931.96. Following the completion of the transaction, the senior vice president now directly owns 21,553 shares of the company’s stock, valued at approximately $1,293,611.06. This represents a 10.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,598 shares of company stock valued at $3,186,432. Corporate insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On ATI

A number of large investors have recently modified their holdings of the business. Mountaineer Partners Management LLC raised its holdings in shares of ATI by 4,401.2% during the 3rd quarter. Mountaineer Partners Management LLC now owns 9,410,891 shares of the basic materials company’s stock worth $629,683,000 after acquiring an additional 9,201,818 shares during the period. Dimensional Fund Advisors LP raised its stake in ATI by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,506,609 shares of the basic materials company’s stock worth $139,003,000 after purchasing an additional 102,691 shares during the period. Geode Capital Management LLC lifted its stake in shares of ATI by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,952,934 shares of the basic materials company’s stock valued at $130,709,000 after purchasing an additional 5,165 shares during the last quarter. Millennium Management LLC increased its position in shares of ATI by 165.1% during the second quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company’s stock valued at $107,846,000 after acquiring an additional 1,211,273 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in ATI by 4.3% during the second quarter. Federated Hermes Inc. now owns 1,702,648 shares of the basic materials company’s stock worth $94,412,000 after purchasing an additional 70,812 shares in 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.