KeyCorp Boosts ATI (NYSE:ATI) Price Target to $58.00

ATI (NYSE:ATI) had its price objective hoisted by KeyCorp from $56.00 to $58.00 in a report released on Monday morning, Benzinga reports. KeyCorp currently has an overweight rating on the basic materials company’s stock.

A number of other brokerages have also recently weighed in on ATI. TheStreet upgraded shares of ATI from a c+ rating to a b- rating in a report on Friday, January 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ATI in a research report on Thursday, April 11th. They issued a buy rating and a $70.00 price target for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $56.00.

ATI Trading Up 0.2 %

ATI stock opened at $49.22 on Monday. The stock has a market capitalization of $6.12 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22. ATI has a 12-month low of $34.10 and a 12-month high of $52.98. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.80 and a quick ratio of 1.53. The firm has a 50 day simple moving average of $49.42 and a 200-day simple moving average of $44.49.

ATI (NYSE:ATI) last issued its earnings results on Thursday, February 1st. The basic materials company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. ATI had a net margin of 8.81% and a return on equity of 24.64%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. As a group, equities research analysts expect that ATI will post 2.26 EPS for the current fiscal year.

Insider Activity at ATI

In other ATI news, VP Timothy J. Harris sold 6,325 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $42.44, for a total value of $268,433.00. Following the completion of the sale, the vice president now owns 109,331 shares in the company, valued at approximately $4,640,007.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.05% of the stock is owned by insiders.

Institutional Investors Weigh In On ATI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ATI. SG Americas Securities LLC purchased a new stake in ATI in the 3rd quarter worth approximately $1,743,000. Guidance Capital Inc. raised its holdings in shares of ATI by 6.4% during the 3rd quarter. Guidance Capital Inc. now owns 6,343 shares of the basic materials company’s stock valued at $258,000 after purchasing an additional 382 shares in the last quarter. Raymond James & Associates raised its holdings in shares of ATI by 62.0% during the 3rd quarter. Raymond James & Associates now owns 27,056 shares of the basic materials company’s stock valued at $1,113,000 after purchasing an additional 10,351 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of ATI by 15.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,244 shares of the basic materials company’s stock valued at $833,000 after purchasing an additional 2,763 shares in the last quarter. Finally, Strs Ohio raised its holdings in shares of ATI by 11.0% during the 3rd quarter. Strs Ohio now owns 16,200 shares of the basic materials company’s stock valued at $666,000 after purchasing an additional 1,600 shares in 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.