ATI Inc. (NYSE:ATI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

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

A number of equities research analysts recently weighed in on ATI shares. JPMorgan Chase & Co. raised their price objective on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Susquehanna lowered their price target on shares of ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th. KeyCorp downgraded shares of ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft increased their target price on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Benchmark reaffirmed a “buy” rating and issued a $80.00 price target on shares of ATI in a report on Wednesday, August 7th.

Insiders Place Their Bets

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total value of $1,555,750.00. Following the completion of the transaction, the chairman now directly owns 486,443 shares of the company’s stock, valued at approximately $30,271,347.89. The trade was a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Quarry LP purchased a new position in shares of ATI during the 2nd quarter valued at approximately $26,000. UMB Bank n.a. lifted its holdings in ATI by 557.0% during the third quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 791 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in ATI by 294.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock valued at $69,000 after purchasing an additional 1,010 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of ATI in the second quarter valued at about $88,000. Finally, nVerses Capital LLC purchased a new stake in shares of ATI during the second quarter worth about $205,000.

ATI Stock Up 2.5 %

Shares of ATI stock opened at $58.23 on Wednesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.94 and a quick ratio of 1.44. The stock has a market cap of $8.31 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 1.94 and a beta of 1.08. The firm’s 50-day moving average is $61.28 and its two-hundred day moving average is $60.62. ATI has a 1 year low of $38.04 and a 1 year high of $68.92.

ATI (NYSE:ATI) last released its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.12 billion. ATI had a net margin of 8.85% and a return on equity of 21.39%. ATI’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.55 earnings per share. As a group, research analysts expect that ATI will post 2.27 earnings per share for the current fiscal year.

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

About ATI

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.