ATI (NYSE:ATI) Stock Gets Price Target Bump from Citigroup

ATI (NYSE:ATI) had its price objective lifted by analysts at Citigroup from $229.00 to $240.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. Citigroup‘s price target indicates a potential upside of 30.78% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on ATI. BTIG Research boosted their price target on shares of ATI from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company reduced their price objective on shares of ATI from $275.00 to $240.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 30th. Weiss Ratings lowered shares of ATI from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, October 29th. KeyCorp decreased their price objective on ATI from $258.00 to $228.00 and set an “overweight” rating for the company in a research note on Thursday, October 8th. Finally, Susquehanna upped their price objective on ATI from $215.00 to $265.00 and gave the company a “positive” rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $224.56.

ATI Trading Down 3.5%

ATI stock traded down $6.64 during midday trading on Friday, reaching $183.52. The stock had a trading volume of 1,333,537 shares, compared to its average volume of 1,826,981. The business has a fifty day simple moving average of $185.35 and a two-hundred day simple moving average of $175.52. The company has a quick ratio of 1.27, a current ratio of 2.77 and a debt-to-equity ratio of 0.85. The firm has a market cap of $24.93 billion, a price-to-earnings ratio of 45.88, a PEG ratio of 1.09 and a beta of 1.09. ATI has a twelve month low of $93.11 and a twelve month high of $243.57.

ATI (NYSE:ATI) last announced its quarterly earnings data on Thursday, October 29th. The basic materials company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.09. ATI had a return on equity of 32.30% and a net margin of 11.08%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the business posted $0.85 EPS. The company’s quarterly revenue was up 26.5% compared to the same quarter last year. As a group, research analysts expect that ATI will post 5.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director David Morehouse sold 2,485 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $201.61, for a total transaction of $501,000.85. Following the completion of the transaction, the director owned 35,826 shares in the company, valued at approximately $7,222,879.86. The trade was a 6.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kimberly Fields sold 24,845 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $231.19, for a total transaction of $5,743,915.55. Following the completion of the sale, the chief executive officer directly owned 100,719 shares of the company’s stock, valued at $23,285,225.61. The trade was a 19.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 85,830 shares of company stock valued at $18,046,361 in the last 90 days. 0.98% of the stock is owned by insiders.

Hedge Funds Weigh In On ATI

Several institutional investors and hedge funds have recently made changes to their positions in the company. CoreCap Advisors LLC bought a new position in ATI during the second quarter worth about $30,000. Retirement Wealth Solutions LLC acquired a new position in ATI in the third quarter valued at about $30,000. Signature Equity Partners LLC increased its holdings in shares of ATI by 208.5% in the first quarter. Signature Equity Partners LLC now owns 182 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 123 shares in the last quarter. Provenance Wealth Advisors LLC bought a new stake in shares of ATI in the third quarter worth about $37,000. Finally, V Square Quantitative Management LLC increased its holdings in shares of ATI by 71.9% in the third quarter. V Square Quantitative Management LLC now owns 220 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 92 shares in the last quarter.

ATI Company Profile

ATI Inc. produces specialty materials and components for aerospace and defense, energy, medical, and other industrial markets. Its materials include titanium and titanium alloys, nickel- and cobalt-based alloys, specialty stainless steels, and other engineered metals designed for demanding applications. The company makes products such as sheet, plate, strip, and bar, along with precision forgings, castings, and engineered components. ATI serves customers worldwide through manufacturing and distribution operations in North America and other regions.