ATI (NYSE:ATI) Shares Gap Down – What’s Next?

ATI Inc. (NYSE:ATI) shares gapped down before the market opened on Tuesday . The stock had previously closed at $47.63, but opened at $45.68. ATI shares last traded at $48.06, with a volume of 123,827 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ATI shares. StockNews.com raised shares of ATI from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Susquehanna increased their price target on ATI from $70.00 to $73.00 and gave the company a “positive” rating in a research report on Wednesday, February 5th. Barclays boosted their price objective on ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, Benchmark raised their target price on ATI from $80.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $75.00.

ATI Stock Performance

The company has a debt-to-equity ratio of 0.88, a current ratio of 2.44 and a quick ratio of 1.32. The company has a 50 day simple moving average of $54.06 and a 200-day simple moving average of $57.02. The stock has a market capitalization of $6.69 billion, a P/E ratio of 18.64, a price-to-earnings-growth ratio of 0.85 and a beta of 0.80.

ATI (NYSE:ATI) last announced its quarterly earnings data on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.19. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.07 billion. ATI had a return on equity of 21.16% and a net margin of 8.43%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 EPS. On average, equities analysts forecast that ATI Inc. will post 2.89 EPS for the current year.

Insider Buying and Selling

In related news, SVP Tina Killough Busch sold 9,900 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $66.41, for a total transaction of $657,459.00. Following the sale, the senior vice president now owns 25,994 shares of the company’s stock, valued at approximately $1,726,261.54. This represents a 27.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.71% of the stock is owned by insiders.

Institutional Investors Weigh In On ATI

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in ATI by 39.2% during the first quarter. GAMMA Investing LLC now owns 3,478 shares of the basic materials company’s stock valued at $181,000 after acquiring an additional 979 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of ATI by 418.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,316 shares of the basic materials company’s stock valued at $69,000 after purchasing an additional 1,062 shares in the last quarter. UMB Bank n.a. grew its position in shares of ATI by 86.2% during the 1st quarter. UMB Bank n.a. now owns 1,579 shares of the basic materials company’s stock valued at $82,000 after purchasing an additional 731 shares in the last quarter. Rhumbline Advisers raised its position in shares of ATI by 19.1% in the first quarter. Rhumbline Advisers now owns 362,532 shares of the basic materials company’s stock worth $18,862,000 after buying an additional 58,241 shares in the last quarter. Finally, Park Square Financial Group LLC bought a new stake in ATI during the fourth quarter valued at $108,000.

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.