ATI (NYSE:ATI) Earns Positive Rating from Analysts at Susquehanna

Equities researchers at Susquehanna initiated coverage on shares of ATI (NYSE:ATI) in a research report issued on Thursday, MarketBeat.com reports. The firm set a “positive” rating and a $75.00 price target on the basic materials company’s stock. Susquehanna’s price objective points to a potential upside of 28.98% from the stock’s current price.

Several other research analysts have also commented on ATI. Deutsche Bank Aktiengesellschaft boosted their price target on ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Northcoast Research lowered 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 set a “buy” rating and a $70.00 price objective for the company. KeyCorp boosted their price objective on shares of ATI from $66.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Finally, Benchmark reiterated a “buy” rating and set a $80.00 price objective on shares of ATI in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.00.

ATI Stock Down 3.0 %

Shares of ATI stock opened at $58.15 on Thursday. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.13 and a quick ratio of 1.07. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 1.46 and a beta of 1.04. The firm’s 50-day moving average is $61.67 and its two-hundred day moving average is $56.58. ATI has a 1 year low of $35.03 and a 1 year high of $68.92.

ATI (NYSE:ATI) last released its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $1.10 billion for 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 company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $0.59 earnings per share. As a group, research analysts expect that ATI will post 2.48 earnings per share for the current fiscal year.

ATI declared that its Board of Directors has initiated a stock buyback program on Tuesday, September 3rd that allows the company to buyback $700.00 million in shares. This buyback authorization allows the basic materials company to reacquire up to 9.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ATI. Quarry LP purchased a new position in shares of ATI during the second quarter worth $26,000. Benjamin F. Edwards & Company Inc. acquired a new stake in ATI during the first quarter valued at $51,000. EverSource Wealth Advisors LLC grew its position in ATI by 294.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock valued at $69,000 after buying an additional 1,010 shares during the period. Quest Partners LLC acquired a new stake in ATI during the second quarter valued at $88,000. Finally, GAMMA Investing LLC grew its position in ATI by 46.5% during the first quarter. GAMMA Investing LLC now owns 1,868 shares of the basic materials company’s stock valued at $96,000 after buying 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.