ATI (NYSE:ATI) Price Target Increased to $84.00 by Analysts at Deutsche Bank Aktiengesellschaft

ATI (NYSE:ATI) had its target price boosted by Deutsche Bank Aktiengesellschaft from $81.00 to $84.00 in a report released on Thursday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the basic materials company’s stock.

Other equities analysts have also recently issued research reports about the stock. Benchmark restated a buy rating and set a $80.00 target price on shares of ATI in a research report on Wednesday, August 7th. Northcoast Research downgraded shares of ATI from a neutral rating to a sell rating in a research note on Friday, June 14th. BTIG Research assumed coverage on shares of ATI in a research note on Wednesday, June 26th. They issued a buy rating and a $70.00 target price for the company. JPMorgan Chase & Co. upped their target price on shares of ATI from $65.00 to $75.00 and gave the company an overweight rating in a research note on Wednesday, August 21st. Finally, Susquehanna started coverage on shares of ATI in a research note on Thursday, September 5th. They set a positive rating and a $75.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $74.43.

ATI Stock Performance

Shares of ATI stock opened at $63.91 on Thursday. The company has a quick ratio of 1.07, a current ratio of 2.13 and a debt-to-equity ratio of 1.26. ATI has a 52 week low of $35.03 and a 52 week high of $68.92. The stock has a market capitalization of $7.95 billion, a PE ratio of 25.67, a P/E/G ratio of 1.62 and a beta of 1.04. The firm has a 50 day moving average of $63.48 and a two-hundred day moving average of $58.52.

ATI (NYSE:ATI) last announced its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. ATI had a net margin of 8.74% and a return on equity of 23.05%. ATI’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the business earned $0.59 EPS. On average, research analysts predict that ATI will post 2.48 EPS for the current fiscal year.

ATI announced that its board has approved a share repurchase program on Tuesday, September 3rd that permits the company to repurchase $700.00 million in outstanding shares. This repurchase authorization permits the basic materials company to repurchase up to 9.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $61.61, for a total value of $1,540,250.00. Following the completion of the sale, the chairman now owns 511,443 shares of the company’s stock, valued at approximately $31,510,003.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ATI

Several large investors have recently bought and sold shares of the stock. Quarry LP purchased a new position in shares of ATI during the 2nd quarter worth approximately $26,000. Benjamin F. Edwards & Company Inc. bought a new stake in ATI in the first quarter worth approximately $51,000. EverSource Wealth Advisors LLC boosted its holdings in shares of ATI by 294.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock worth $69,000 after buying an additional 1,010 shares during the period. Quest Partners LLC bought a new stake in shares of ATI during the 2nd quarter worth $88,000. Finally, GAMMA Investing LLC boosted its holdings in ATI by 46.5% in the 1st quarter. GAMMA Investing LLC now owns 1,868 shares of the basic materials company’s stock valued at $96,000 after purchasing an additional 593 shares during the period.

ATI Company Profile

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.