KeyCorp Boosts ATI (NYSE:ATI) Price Target to $67.00

ATI (NYSE:ATI) had its price objective increased by equities researchers at KeyCorp from $66.00 to $67.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. KeyCorp’s price objective would indicate a potential upside of 6.40% from the company’s current price.

ATI has been the topic of a number of other research reports. BTIG Research started coverage on shares of ATI in a research report on Wednesday, June 26th. They issued a “buy” rating and a $70.00 price objective on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of ATI from $80.00 to $81.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Benchmark restated a “buy” rating and issued a $80.00 price objective on shares of ATI in a research report on Wednesday, August 7th. Barclays boosted their price objective on shares of ATI from $55.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Finally, Northcoast Research cut shares of ATI from a “neutral” rating to a “sell” rating in a research report on Friday, June 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $73.60.

ATI Stock Performance

ATI stock opened at $62.97 on Monday. The company has a quick ratio of 1.07, a current ratio of 2.13 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $7.84 billion, a PE ratio of 25.29, a P/E/G ratio of 1.53 and a beta of 1.07. The firm has a fifty day simple moving average of $59.06 and a two-hundred day simple moving average of $54.03. ATI has a twelve month low of $35.03 and a twelve month high of $68.92.

ATI (NYSE:ATI) last posted its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. ATI had a net margin of 8.74% and a return on equity of 23.05%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 earnings per share. Research analysts expect that ATI will post 2.47 EPS for the current year.

Hedge Funds Weigh In On ATI

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Capital International Investors increased its position in shares of ATI by 1.3% during the first quarter. Capital International Investors now owns 15,409,897 shares of the basic materials company’s stock valued at $788,524,000 after buying an additional 203,012 shares during the period. Vanguard Group Inc. increased its position in shares of ATI by 0.9% during the first quarter. Vanguard Group Inc. now owns 14,338,873 shares of the basic materials company’s stock valued at $733,720,000 after buying an additional 132,478 shares during the period. Frontier Capital Management Co. LLC increased its position in shares of ATI by 19.5% during the fourth quarter. Frontier Capital Management Co. LLC now owns 3,645,644 shares of the basic materials company’s stock valued at $165,767,000 after buying an additional 594,644 shares during the period. Capital World Investors grew its holdings in ATI by 43.9% in the first quarter. Capital World Investors now owns 2,840,962 shares of the basic materials company’s stock worth $145,372,000 after purchasing an additional 866,310 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in ATI by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,506,609 shares of the basic materials company’s stock worth $139,003,000 after purchasing an additional 102,691 shares during the period.

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.