ATI (NYSE:ATI) Rating Lowered to Hold at Wall Street Zen

ATI (NYSE:ATI) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

A number of other research analysts have also recently issued reports on ATI. Weiss Ratings upgraded ATI from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 9th. Wells Fargo & Company started coverage on ATI in a report on Wednesday, April 1st. They set an “overweight” rating and a $175.00 price target for the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $194.00 price target on shares of ATI in a report on Friday, May 1st. JPMorgan Chase & Co. upped their price target on shares of ATI from $150.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, BTIG Research upped their price target on shares of ATI from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company. Based on data from MarketBeat.com, ATI currently has a consensus rating of “Buy” and a consensus target price of $176.78.

ATI Price Performance

ATI stock opened at $178.13 on Tuesday. The firm has a 50 day moving average price of $187.40 and a 200-day moving average price of $160.87. ATI has a 52-week low of $70.42 and a 52-week high of $205.31. The firm has a market capitalization of $24.31 billion, a price-to-earnings ratio of 58.99, a PEG ratio of 1.49 and a beta of 0.96. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.17 and a current ratio of 2.67.

ATI (NYSE:ATI) last posted its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.12. ATI had a return on equity of 26.44% and a net margin of 9.26%.The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the business posted $0.72 EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. Equities research analysts forecast that ATI will post 4.49 EPS for the current fiscal year.

Insider Transactions at ATI

In related news, CEO Kimberly A. Fields sold 59,749 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $179.07, for a total value of $10,699,253.43. Following the transaction, the chief executive officer directly owned 218,014 shares of the company’s stock, valued at approximately $39,039,766.98. This represents a 21.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 160,442 shares of company stock valued at $28,535,831. Corporate insiders own 0.98% of the company’s stock.

Institutional Trading of ATI

A number of institutional investors and hedge funds have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of ATI by 18.0% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 36,829 shares of the basic materials company’s stock valued at $7,259,000 after purchasing an additional 5,617 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in ATI in the 2nd quarter worth about $569,000. Assenagon Asset Management S.A. increased its holdings in ATI by 12.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 657,117 shares of the basic materials company’s stock worth $129,518,000 after buying an additional 73,087 shares in the last quarter. 55 North Private Wealth LLC bought a new stake in ATI in the 2nd quarter worth about $236,000. Finally, Dynamic Advisor Solutions LLC purchased a new position in ATI in the 2nd quarter worth about $238,000.

ATI Company Profile

Allegheny Technologies Incorporated (ATI) is a global manufacturer of specialty materials and complex components, serving aerospace, defense, oil and gas, chemical processing, medical and other industrial end markets. The company operates through two main segments: High Performance Materials & Components, which produces titanium and nickel-based alloys, stainless and specialty steels, and precision forgings; and Flat-Rolled Products, which supplies stainless steel, nickel and specialty alloy sheet, strip and precision-rolled plate.