ATI (NYSE:ATI) Stock Rating Lowered by KeyCorp

KeyCorp downgraded shares of ATI (NYSE:ATI) from an overweight rating to a sector weight rating in a report published on Thursday morning, Marketbeat Ratings reports.

Several other equities research analysts also recently commented on ATI. JPMorgan Chase & Co. boosted their target price on shares of ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Benchmark reissued a “buy” rating and set a $80.00 target price on shares of ATI in a research report on Wednesday, August 7th. Susquehanna assumed coverage on shares of ATI in a research report on Thursday, September 5th. They set a “positive” rating and a $75.00 target price for the company. Deutsche Bank Aktiengesellschaft boosted their target price 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. Finally, BTIG Research assumed coverage on shares of ATI in a research report on Wednesday, June 26th. They set a “buy” rating and a $70.00 target price for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, ATI has a consensus rating of “Moderate Buy” and a consensus price target of $74.43.

ATI Trading Down 0.2 %

ATI opened at $61.38 on Thursday. ATI has a 1-year low of $36.65 and a 1-year high of $68.92. The company has a current ratio of 2.13, a quick ratio of 1.07 and a debt-to-equity ratio of 1.26. The company has a market cap of $7.64 billion, a P/E ratio of 24.65, a price-to-earnings-growth ratio of 1.42 and a beta of 1.04. The company has a fifty day moving average price of $63.40 and a two-hundred day moving average price of $60.12.

ATI (NYSE:ATI) last posted its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. ATI had a net margin of 8.74% and a return on equity of 23.05%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the firm posted $0.59 earnings per share. The business’s revenue was up 5.2% compared to the same quarter last year. Analysts predict that ATI will post 2.47 EPS for the current fiscal year.

ATI declared that its board has authorized a stock repurchase program on Tuesday, September 3rd that permits the company to buyback $700.00 million in outstanding shares. This buyback authorization permits the basic materials company to purchase up to 9.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total value of $1,555,750.00. Following the transaction, the chairman now directly owns 486,443 shares in the company, valued at $30,271,347.89. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC boosted its stake in ATI by 3.3% in the third quarter. Sequoia Financial Advisors LLC now owns 5,383 shares of the basic materials company’s stock valued at $360,000 after acquiring an additional 172 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of ATI by 3.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,113 shares of the basic materials company’s stock valued at $364,000 after buying an additional 224 shares in the last quarter. First Trust Direct Indexing L.P. lifted its stake in shares of ATI by 4.3% during the 1st quarter. First Trust Direct Indexing L.P. now owns 5,849 shares of the basic materials company’s stock valued at $299,000 after buying an additional 239 shares in the last quarter. Beck Capital Management LLC lifted its stake in shares of ATI by 0.8% during the 2nd quarter. Beck Capital Management LLC now owns 34,229 shares of the basic materials company’s stock valued at $1,898,000 after buying an additional 262 shares in the last quarter. Finally, Nvwm LLC lifted its stake in shares of ATI by 2.1% during the 1st quarter. Nvwm LLC now owns 16,177 shares of the basic materials company’s stock valued at $828,000 after buying an additional 334 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.