ATI (NYSE:ATI) Price Target Raised to $73.00

ATI (NYSE:ATI) had its price objective upped by Susquehanna from $70.00 to $73.00 in a report published on Wednesday morning,Benzinga reports. They currently have a positive rating on the basic materials company’s stock.

ATI has been the topic of several other research reports. StockNews.com downgraded ATI from a “hold” rating to a “sell” rating in a research note on Wednesday, January 29th. KeyCorp downgraded ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, ATI currently has an average rating of “Moderate Buy” and an average price target of $74.14.

ATI Stock Down 1.2 %

ATI stock opened at $62.73 on Wednesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.94. The business’s 50-day simple moving average is $57.26 and its two-hundred day simple moving average is $60.25. The company has a market cap of $8.95 billion, a PE ratio of 24.13, a PEG ratio of 1.52 and a beta of 1.10. ATI has a fifty-two week low of $39.71 and a fifty-two week high of $68.92.

ATI (NYSE:ATI) last posted its quarterly earnings results on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.19. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.07 billion. ATI had a return on equity of 21.39% and a net margin of 8.85%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 EPS. Equities analysts anticipate that ATI will post 2.28 EPS for the current year.

Insider Activity

In related news, SVP Tina Killough Busch sold 9,900 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $66.41, for a total value of $657,459.00. Following the completion of the transaction, the senior vice president now owns 25,994 shares of the company’s stock, valued at approximately $1,726,261.54. This represents a 27.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 stock was sold at an average price of $58.99, for a total value of $1,474,750.00. Following the completion of the transaction, the chairman now directly owns 436,443 shares of the company’s stock, valued at $25,745,772.57. The trade was a 5.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,498 shares of company stock valued at $2,288,141 in the last quarter. 0.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ATI

A number of large investors have recently bought and sold shares of ATI. ORG Wealth Partners LLC acquired a new position in ATI in the 4th quarter worth about $25,000. Quarry LP increased its stake in ATI by 86.4% during the 3rd quarter. Quarry LP now owns 889 shares of the basic materials company’s stock worth $59,000 after buying an additional 412 shares in the last quarter. UMB Bank n.a. increased its stake in ATI by 557.0% during the 3rd quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock worth $62,000 after buying an additional 791 shares in the last quarter. Mainstream Capital Management LLC purchased a new stake in ATI during the 4th quarter worth approximately $94,000. Finally, Smartleaf Asset Management LLC increased its stake in ATI by 236.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,406 shares of the basic materials company’s stock worth $132,000 after buying an additional 1,690 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.