ATI (NYSE:ATI) Rating Lowered to Sell at StockNews.com

ATI (NYSE:ATI) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

Several other analysts have also recently weighed in on the company. Susquehanna dropped their price target on ATI from $75.00 to $70.00 and set a “positive” rating for the company in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lifted their target price on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, KeyCorp downgraded shares of ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $73.71.

ATI Price Performance

Shares of ATI opened at $55.24 on Thursday. The company’s 50-day moving average is $56.93 and its 200-day moving average is $60.08. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.94 and a quick ratio of 1.44. The firm has a market capitalization of $7.88 billion, a PE ratio of 21.25, a PEG ratio of 1.95 and a beta of 1.12. ATI has a fifty-two week low of $38.04 and a fifty-two week high of $68.92.

ATI (NYSE:ATI) last released its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.06). ATI had a net margin of 8.85% and a return on equity of 21.39%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the company earned $0.55 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. Equities analysts forecast that ATI will post 2.27 EPS for the current year.

Insider Buying and Selling

In other news, SVP Tina Killough Busch sold 2,598 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $60.02, for a total value of $155,931.96. Following the sale, the senior vice president now directly owns 21,553 shares in the company, valued at approximately $1,293,611.06. This trade represents a 10.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the sale, the chairman now directly owns 486,443 shares in the company, valued at $30,271,347.89. This trade represents a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,598 shares of company stock worth $3,186,432. Company insiders own 0.71% of the company’s stock.

Institutional Trading of ATI

A number of hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in shares of ATI by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,506,609 shares of the basic materials company’s stock valued at $139,003,000 after acquiring an additional 102,691 shares during the last quarter. Hantz Financial Services Inc. acquired a new position in ATI in the 3rd quarter worth about $765,000. Franklin Resources Inc. raised its position in ATI by 16.2% in the third quarter. Franklin Resources Inc. now owns 445,746 shares of the basic materials company’s stock valued at $27,993,000 after purchasing an additional 61,999 shares during the last quarter. WINTON GROUP Ltd boosted its stake in shares of ATI by 138.1% during the second quarter. WINTON GROUP Ltd now owns 32,485 shares of the basic materials company’s stock valued at $1,801,000 after purchasing an additional 18,842 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of ATI by 32.9% during the second quarter. Renaissance Technologies LLC now owns 180,192 shares of the basic materials company’s stock worth $9,992,000 after purchasing an additional 44,600 shares during the last quarter.

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.