Equities Analysts Issue Forecasts for ATI Inc.’s Q1 2024 Earnings (NYSE:ATI)

ATI Inc. (NYSE:ATI) – Stock analysts at Seaport Res Ptn issued their Q1 2024 earnings per share (EPS) estimates for shares of ATI in a report issued on Monday, April 15th. Seaport Res Ptn analyst R. Safran forecasts that the basic materials company will post earnings per share of $0.40 for the quarter. The consensus estimate for ATI’s current full-year earnings is $2.26 per share. Seaport Res Ptn also issued estimates for ATI’s Q2 2024 earnings at $0.52 EPS, Q3 2024 earnings at $0.61 EPS, Q4 2024 earnings at $0.70 EPS, FY2024 earnings at $2.23 EPS and Q4 2025 earnings at $0.89 EPS.

ATI (NYSE:ATI) last posted its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. ATI had a return on equity of 24.64% and a net margin of 8.81%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the company earned $0.53 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis.

A number of other research analysts have also weighed in on ATI. Deutsche Bank Aktiengesellschaft initiated coverage on ATI in a research report on Thursday, April 11th. They set a “buy” rating and a $70.00 price objective for the company. KeyCorp lifted their target price on ATI from $49.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Finally, TheStreet raised ATI from a “c+” rating to a “b-” rating in a report on Friday, January 26th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.67.

ATI Stock Up 0.7 %

ATI stock opened at $51.07 on Wednesday. ATI has a twelve month low of $34.10 and a twelve month high of $52.98. The company has a quick ratio of 1.53, a current ratio of 2.80 and a debt-to-equity ratio of 1.45. The firm has a market cap of $6.36 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. The business has a 50 day moving average of $48.88 and a 200 day moving average of $44.20.

Hedge Funds Weigh In On ATI

Institutional investors and hedge funds have recently modified their holdings of the company. Clearstead Advisors LLC boosted its stake in shares of ATI by 295.9% in the 3rd quarter. Clearstead Advisors LLC now owns 669 shares of the basic materials company’s stock worth $28,000 after buying an additional 500 shares during the last quarter. Belpointe Asset Management LLC boosted its stake in shares of ATI by 65.3% in the 1st quarter. Belpointe Asset Management LLC now owns 843 shares of the basic materials company’s stock worth $33,000 after buying an additional 333 shares during the last quarter. Covestor Ltd boosted its stake in shares of ATI by 73.1% in the 3rd quarter. Covestor Ltd now owns 1,044 shares of the basic materials company’s stock worth $43,000 after buying an additional 441 shares during the last quarter. GAMMA Investing LLC purchased a new position in ATI during the fourth quarter valued at $58,000. Finally, West Tower Group LLC lifted its position in ATI by 243.6% during the fourth quarter. West Tower Group LLC now owns 1,457 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 1,033 shares in the last quarter.

Insiders Place Their Bets

In other news, VP Timothy J. Harris sold 6,325 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $42.44, for a total value of $268,433.00. Following the transaction, the vice president now directly owns 109,331 shares in the company, valued at approximately $4,640,007.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.71% of the company’s stock.

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.