Barclays Issues Positive Forecast for ATI (NYSE:ATI) Stock Price

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

Several other research analysts also recently weighed in on ATI. StockNews.com upgraded ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Susquehanna upped their price objective on ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a report on Wednesday, February 5th. Finally, KeyCorp downgraded ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, ATI presently has a consensus rating of “Moderate Buy” and an average price target of $74.86.

ATI Trading Down 1.9 %

Shares of ATI opened at $60.70 on Monday. The stock has a fifty day moving average of $57.39 and a two-hundred day moving average of $60.20. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.44 and a current ratio of 2.44. The company has a market capitalization of $8.66 billion, a PE ratio of 23.80, a price-to-earnings-growth ratio of 1.69 and a beta of 1.10. ATI has a fifty-two week low of $41.37 and a fifty-two week high of $68.92.

ATI (NYSE:ATI) last issued 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 company had revenue of $1.17 billion during 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%. ATI’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 EPS. As a group, analysts forecast that ATI will post 2.87 EPS for the current year.

Insider Buying and Selling

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction on 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 sale, the chairman now directly owns 436,443 shares of the company’s stock, valued at approximately $25,745,772.57. This represents a 5.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Tina Killough Busch sold 9,900 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $66.41, for a total transaction of $657,459.00. Following the sale, the senior vice president now directly owns 25,994 shares of the company’s stock, valued at approximately $1,726,261.54. This trade represents a 27.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 37,498 shares of company stock valued at $2,288,141. Company insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On ATI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATI. CWM LLC boosted its position in ATI by 5,005.1% in the 3rd quarter. CWM LLC now owns 35,174 shares of the basic materials company’s stock valued at $2,353,000 after buying an additional 34,485 shares during the last quarter. Wedmont Private Capital purchased a new position in ATI in the 3rd quarter valued at about $234,000. UMB Bank n.a. boosted its position in ATI by 557.0% in the 3rd quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock valued at $62,000 after buying an additional 791 shares during the last quarter. Creative Planning boosted its position in ATI by 12.9% in the 3rd quarter. Creative Planning now owns 27,894 shares of the basic materials company’s stock valued at $1,866,000 after buying an additional 3,179 shares during the last quarter. Finally, nVerses Capital LLC boosted its position in ATI by 121.6% in the 3rd quarter. nVerses Capital LLC now owns 8,200 shares of the basic materials company’s stock valued at $549,000 after buying an additional 4,500 shares during 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.