Sterne Agee assumed coverage on shares of Allegheny Technologies (NYSE:ATI) in a report released on Wednesday, TheFlyOnTheWall.com reports. The firm issued an underperform rating and a $32.03 price objective on the stock.
Shares of Allegheny Technologies (NYSE:ATI) traded up 0.38% on Wednesday, hitting $31.52. 994,596 shares of the company’s stock traded hands. Allegheny Technologies has a one year low of $25.35 and a one year high of $34.18. The stock’s 50-day moving average is $29.93 and its 200-day moving average is $28.34. The company has a market cap of $3.403 billion and a price-to-earnings ratio of 55.48.
Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.14 by $0.10. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the company posted $0.50 earnings per share. The company’s quarterly revenue was down 16.3% on a year-over-year basis. On average, analysts predict that Allegheny Technologies will post $0.05 earnings per share for the current fiscal year.
A number of other firms have also recently commented on ATI. Analysts at Zacks upgraded shares of Allegheny Technologies from an underperform rating to a neutral rating in a research note to investors on Wednesday, October 9th. They now have a $32.00 price target on the stock. Separately, analysts at KeyCorp raised their price target on shares of Allegheny Technologies from $36.00 to $38.00 in a research note to investors on Wednesday, September 18th. They now have a buy rating on the stock. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $31.25.
Allegheny Technologies Incorporated (NYSE:ATI) is a diversified specialty metals producer.
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