ATI Inc. (NYSE:ATI) Receives $73.71 Consensus Price Target from Brokerages

Shares of ATI Inc. (NYSE:ATI) have been assigned a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $73.71.

ATI has been the topic of a number of recent analyst reports. StockNews.com cut shares of ATI from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. KeyCorp cut shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Finally, Susquehanna decreased their price target on ATI from $75.00 to $70.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th.

ATI Price Performance

Shares of NYSE:ATI opened at $57.06 on Thursday. The firm’s 50 day moving average is $57.04 and its two-hundred day moving average is $60.14. The firm has a market capitalization of $8.14 billion, a P/E ratio of 21.95, a PEG ratio of 1.47 and a beta of 1.12. The company has a current ratio of 2.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. ATI has a 52 week low of $38.04 and a 52 week high of $68.92.

ATI (NYSE:ATI) last posted its earnings results on Tuesday, October 29th. The basic materials company reported $0.60 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 business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the business earned $0.55 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. Analysts anticipate that ATI will post 2.28 earnings per share for the current year.

Insiders Place Their Bets

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were 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. This represents a 5.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Tina Killough Busch sold 2,598 shares of ATI 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 in the company, valued at approximately $1,293,611.06. This trade represents a 10.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ATI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ATI. Mountaineer Partners Management LLC raised its stake in 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 valued at $629,683,000 after purchasing an additional 9,201,818 shares during the period. Millennium Management LLC raised its position in 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 buying an additional 1,211,273 shares during the period. Senator Investment Group LP lifted its stake in ATI by 167.6% in the 2nd quarter. Senator Investment Group LP now owns 891,138 shares of the basic materials company’s stock worth $49,414,000 after acquiring an additional 558,138 shares in the last quarter. Driehaus Capital Management LLC acquired a new stake in ATI during the 2nd quarter worth about $28,896,000. Finally, Forest Avenue Capital Management LP purchased a new position in ATI during the 3rd quarter valued at 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.