ATI (NYSE:ATI) Rating Increased to Hold at StockNews.com

ATI (NYSE:ATI) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

Other equities analysts also recently issued reports about the stock. KeyCorp downgraded shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Susquehanna lowered their price objective on shares of ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised their target price on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. lifted their price target on ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, ATI has a consensus rating of “Moderate Buy” and an average target price of $73.71.

ATI Trading Down 2.2 %

ATI stock opened at $56.02 on Wednesday. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 21.55, a P/E/G ratio of 1.99 and a beta of 1.09. The firm has a 50-day moving average of $59.49 and a 200-day moving average of $60.44. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.94 and a quick ratio of 1.44. ATI has a one year low of $38.04 and a one year high of $68.92.

ATI (NYSE:ATI) last issued its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.06). The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.12 billion. ATI had a net margin of 8.85% and a return on equity of 21.39%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the company posted $0.55 earnings per share. On average, equities analysts expect that ATI will post 2.27 earnings per share for the current fiscal year.

ATI declared that its Board of Directors has approved a share buyback plan on Tuesday, September 3rd that authorizes the company to repurchase $700.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to reacquire up to 9.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at ATI

In other news, SVP Tina Killough Busch sold 2,598 shares of ATI stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total transaction of $155,931.96. Following the completion of the sale, the senior vice president now owns 21,553 shares of the company’s stock, valued at approximately $1,293,611.06. This trade represents a 10.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total transaction of $1,474,750.00. Following the completion of the transaction, the chairman now owns 436,443 shares in the company, valued at $25,745,772.57. This trade represents a 5.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 77,598 shares of company stock valued at $4,726,682 in the last three months. 0.71% of the stock is currently owned by company insiders.

Institutional Trading of ATI

Several hedge funds and other institutional investors have recently bought and sold shares of ATI. Mountaineer Partners Management LLC grew its position in shares of ATI by 4,401.2% during the 3rd quarter. Mountaineer Partners Management LLC now owns 9,410,891 shares of the basic materials company’s stock worth $629,683,000 after purchasing an additional 9,201,818 shares in the last quarter. Dimensional Fund Advisors LP grew its position in ATI by 4.3% during 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 buying an additional 102,691 shares in the last quarter. Geode Capital Management LLC grew its position in ATI by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,952,934 shares of the basic materials company’s stock worth $130,709,000 after buying an additional 5,165 shares in the last quarter. Millennium Management LLC increased its stake in ATI by 165.1% during the 2nd quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company’s stock worth $107,846,000 after acquiring an additional 1,211,273 shares during the period. Finally, Federated Hermes Inc. raised its holdings in ATI by 4.3% in the 2nd quarter. Federated Hermes Inc. now owns 1,702,648 shares of the basic materials company’s stock valued at $94,412,000 after acquiring an additional 70,812 shares in the last quarter.

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.