ATI (NYSE:ATI) Downgraded by KeyCorp to Sector Weight

ATI (NYSE:ATI) was downgraded by equities research analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a note issued to investors on Tuesday, Marketbeat.com reports.

Other analysts also recently issued research reports about the company. Benchmark reissued a “buy” rating and issued a $81.00 price objective on shares of ATI in a research note on Monday, April 21st. Susquehanna increased their target price on shares of ATI from $70.00 to $73.00 and gave the company a “positive” rating in a research note on Wednesday, February 5th. Barclays upped their target price on ATI from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, February 10th. BTIG Research set a $90.00 price target on shares of ATI and gave the company a “buy” rating in a research report on Monday, May 5th. Finally, StockNews.com upgraded ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $76.14.

ATI Trading Up 0.3%

NYSE:ATI opened at $76.54 on Tuesday. The company has a market cap of $10.80 billion, a PE ratio of 30.02, a P/E/G ratio of 0.85 and a beta of 1.01. The business’s 50 day moving average is $55.22 and its two-hundred day moving average is $56.79. The company has a quick ratio of 1.32, a current ratio of 2.44 and a debt-to-equity ratio of 0.88. ATI has a 52 week low of $39.23 and a 52 week high of $76.74.

ATI (NYSE:ATI) last released its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. ATI had a net margin of 8.43% and a return on equity of 21.16%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. On average, analysts predict that ATI will post 2.89 EPS for the current year.

Insider Buying and Selling at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of ATI stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $68.18, for a total value of $3,409,000.00. Following the completion of the sale, the chairman now directly owns 506,538 shares in the company, valued at $34,535,760.84. The trade was a 8.98% 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 1.10% of the company’s stock.

Hedge Funds Weigh In On ATI

Several hedge funds have recently bought and sold shares of the business. WPG Advisers LLC bought a new stake in ATI during the first quarter worth approximately $29,000. Golden State Wealth Management LLC lifted its stake in shares of ATI by 104.1% in the first quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company’s stock worth $31,000 after buying an additional 304 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of ATI by 139.9% during the 1st quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company’s stock worth $34,000 after buying an additional 386 shares during the period. Olde Wealth Management LLC bought a new stake in shares of ATI during the 1st quarter worth $36,000. Finally, Headlands Technologies LLC acquired a new position in ATI in the 1st quarter valued at $47,000.

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.