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ATI (NYSE:ATI - Get Rating) was downgraded by stock analysts at StockNews.com from a "hold" rating to a "sell" rating in a note issued to investors on Friday.
Several other brokerages also recently commented on ATI. Benchmark raised their price target on shares of ATI to $37.00 in a report on Tuesday, August 9th. Wolfe Research raised shares of ATI from a "peer perform" rating to an "outperform" rating and set a $33.00 price target for the company in a report on Friday, August 5th. Finally, KeyCorp raised their price target on shares of ATI from $31.00 to $33.00 and gave the company an "overweight" rating in a report on Friday, August 5th. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $30.14.ATI Stock Performance
ATI traded down $0.39 on Friday, hitting $27.96. The company's stock had a trading volume of 1,282,595 shares, compared to its average volume of 1,893,930. The company's 50 day simple moving average is $29.90 and its 200-day simple moving average is $27.15. The firm has a market cap of $3.63 billion, a P/E ratio of 699.17 and a beta of 1.22. ATI has a 12 month low of $13.85 and a 12 month high of $33.31. The company has a quick ratio of 1.30, a current ratio of 2.89 and a debt-to-equity ratio of 1.91.
ATI (NYSE:ATI - Get Rating) last released its quarterly earnings data on Thursday, August 4th. The basic materials company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.37 by $0.17. ATI had a net margin of 0.36% and a return on equity of 21.63%. The company had revenue of $959.50 million during the quarter, compared to the consensus estimate of $837.33 million. During the same period last year, the firm earned ($0.12) EPS. ATI's revenue for the quarter was up 55.7% on a year-over-year basis. Analysts forecast that ATI will post 2.02 EPS for the current year. Insider Activity
In other news, CEO Robert S. Wetherbee sold 15,000 shares of the firm's stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $27.13, for a total transaction of $406,950.00. Following the sale, the chief executive officer now owns 343,753 shares in the company, valued at approximately $9,326,018.89. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Robert S. Wetherbee sold 15,000 shares of ATI stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $27.13, for a total value of $406,950.00. Following the transaction, the chief executive officer now owns 343,753 shares in the company, valued at approximately $9,326,018.89. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Karl D. Schwartz sold 1,000 shares of ATI stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $31.22, for a total transaction of $31,220.00. Following the completion of the transaction, the chief accounting officer now owns 63,833 shares in the company, valued at approximately $1,992,866.26. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,500 shares of company stock worth $819,490. 0.82% of the stock is currently owned by corporate insiders. Hedge Funds Weigh In On ATI
A number of large investors have recently added to or reduced their stakes in the business. Bowen Hanes & Co. Inc. purchased a new position in shares of ATI in the first quarter valued at about $40,221,000. State Street Corp increased its position in shares of ATI by 14.8% in the first quarter. State Street Corp now owns 9,941,032 shares of the basic materials company's stock valued at $266,817,000 after acquiring an additional 1,279,827 shares during the period. Invesco Ltd. increased its position in shares of ATI by 105.4% in the first quarter. Invesco Ltd. now owns 1,181,206 shares of the basic materials company's stock valued at $31,703,000 after acquiring an additional 606,005 shares during the period. Driehaus Capital Management LLC increased its position in shares of ATI by 24.6% in the second quarter. Driehaus Capital Management LLC now owns 2,377,194 shares of the basic materials company's stock valued at $53,986,000 after acquiring an additional 469,487 shares during the period. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of ATI in the first quarter valued at about $12,302,000. ATI Company Profile (Get Rating)
ATI Inc manufactures and sells specialty materials and components worldwide. The company 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, 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.Featured ArticlesGet a free copy of the StockNews.com research report on ATI (ATI)ConAgra Brands Is A Value Pick For Income Investors 3 Stocks With Market-Beating Price PerformanceLucid Motors May Test Investors' Resolve, But Should They Sell? Box Inc. Stock on Track to Become a Q4 WinnerWill WWE Shares Wrestle Their Way Higher or Will They Tap Out?
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