Benchmark Boosts ATI (NYSE:ATI) Price Target to $81.00

ATI (NYSE:ATI) had its target price boosted by stock analysts at Benchmark from $80.00 to $81.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Benchmark’s price target suggests a potential upside of 36.25% from the stock’s current price.

A number of other brokerages have also weighed in on ATI. KeyCorp lowered ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Susquehanna lifted their target price on ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a report on Wednesday, February 5th. StockNews.com raised shares of ATI from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Barclays increased their price objective on shares of ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $75.00.

ATI Stock Down 2.2 %

ATI traded down $1.33 on Thursday, hitting $59.45. The company had a trading volume of 294,738 shares, compared to its average volume of 1,513,294. The stock has a market capitalization of $8.48 billion, a price-to-earnings ratio of 23.31, a P/E/G ratio of 1.69 and a beta of 1.10. The stock has a fifty day moving average price of $57.39 and a 200-day moving average price of $60.20. ATI has a 12-month low of $41.91 and a 12-month high of $68.92. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.44 and a current ratio of 2.44.

ATI (NYSE:ATI) last posted its quarterly earnings data on Tuesday, February 4th. The basic materials company reported $0.79 EPS for the quarter, topping the consensus estimate 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 quarter in the previous year, the business posted $0.64 EPS. ATI’s revenue was up 10.2% on a year-over-year basis. Analysts predict that ATI will post 2.87 EPS for the current fiscal year.

Insider Buying and Selling at ATI

In other news, SVP Tina Killough Busch sold 2,598 shares of the company’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 transaction 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 $1,293,611.06. This represents a 10.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $58.99, for a total transaction of $1,474,750.00. Following the completion of the sale, the chairman now directly owns 436,443 shares of the company’s stock, valued at approximately $25,745,772.57. The trade was a 5.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,498 shares of company stock valued at $2,288,141. Corporate insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On ATI

Large investors have recently bought and sold shares of the company. Mountaineer Partners Management LLC boosted its stake in shares of ATI by 4,401.2% in the third 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 last quarter. Vanguard Group Inc. raised its holdings in ATI by 15.2% in the fourth quarter. Vanguard Group Inc. now owns 15,335,409 shares of the basic materials company’s stock valued at $844,061,000 after acquiring an additional 2,020,313 shares in the last quarter. Norges Bank purchased a new stake in shares of ATI during the 4th quarter worth $85,047,000. Raymond James Financial Inc. acquired a new stake in ATI in the fourth quarter valued at $44,155,000. Finally, Forest Avenue Capital Management LP purchased a new stake in ATI during the 3rd quarter worth about $28,700,000.

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.