ATI (NYSE:ATI) Given New $75.00 Price Target at Barclays

ATI (NYSE:ATI) had its price objective lifted by Barclays from $70.00 to $75.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an overweight rating on the basic materials company’s stock.

A number of other research analysts have also commented on ATI. KeyCorp lowered ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. StockNews.com raised shares of ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Susquehanna lifted their target price on shares of ATI from $70.00 to $73.00 and gave the company a “positive” rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, ATI has a consensus rating of “Moderate Buy” and an average price target of $74.86.

ATI Stock Performance

NYSE ATI opened at $63.26 on Monday. The company’s fifty day moving average is $57.33 and its two-hundred day moving average is $60.22. ATI has a 52-week low of $41.37 and a 52-week high of $68.92. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.44 and a quick ratio of 1.44. The firm has a market capitalization of $9.02 billion, a price-to-earnings ratio of 24.81, a P/E/G ratio of 1.69 and a beta of 1.10.

ATI (NYSE:ATI) last released its earnings results on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates 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 21.16% and a net margin of 8.43%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the business earned $0.64 earnings per share. Equities research analysts forecast that ATI will post 2.87 EPS for the current year.

Insider Buying and Selling

In related news, SVP Tina Killough Busch sold 9,900 shares of ATI 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 directly owns 25,994 shares of the company’s stock, valued at $1,726,261.54. The trade was a 27.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $58.99, for a total transaction of $1,474,750.00. Following the sale, the chairman now directly owns 436,443 shares in the company, valued at approximately $25,745,772.57. This represents a 5.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,498 shares of company stock worth $2,288,141 in the last quarter. 0.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ATI

A number of institutional investors have recently modified their holdings of the stock. Mountaineer Partners Management LLC increased its holdings in shares of ATI by 4,401.2% in the third quarter. Mountaineer Partners Management LLC now owns 9,410,891 shares of the basic materials company’s stock valued at $629,683,000 after purchasing an additional 9,201,818 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of ATI by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,952,934 shares of the basic materials company’s stock valued at $130,709,000 after buying an additional 5,165 shares during the period. Channing Capital Management LLC raised its position in shares of ATI by 15.7% during the fourth quarter. Channing Capital Management LLC now owns 1,674,461 shares of the basic materials company’s stock worth $92,162,000 after acquiring an additional 226,977 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of ATI by 14.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,563,062 shares of the basic materials company’s stock valued at $86,031,000 after acquiring an additional 191,823 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in ATI by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 891,152 shares of the basic materials company’s stock valued at $49,049,000 after acquiring an additional 12,907 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.