Allegheny Technologies Incorporated (NYSE:ATI) Expected to Announce Quarterly Sales of $786.95 Million

Wall Street analysts expect that Allegheny Technologies Incorporated (NYSE:ATI – Get Rating) will post $786.95 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Allegheny Technologies’ earnings. The lowest sales estimate is $753.00 million and the highest is $831.00 million. Allegheny Technologies posted sales of $616.20 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 27.7%. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Allegheny Technologies will report full-year sales of $3.26 billion for the current year, with estimates ranging from $3.08 billion to $3.51 billion. For the next year, analysts forecast that the firm will report sales of $3.57 billion, with estimates ranging from $3.54 billion to $3.58 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Allegheny Technologies.

Allegheny Technologies (NYSE:ATI – Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The basic materials company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.18. Allegheny Technologies had a net margin of 0.02% and a return on equity of 11.17%. The company had revenue of $834.10 million during the quarter, compared to analyst estimates of $748.04 million. During the same period last year, the business earned ($0.06) earnings per share. Allegheny Technologies’s revenue was up 20.4% compared to the same quarter last year.

Several brokerages have issued reports on ATI. JPMorgan Chase & Co. lifted their target price on shares of Allegheny Technologies from $26.00 to $31.00 in a research report on Friday, February 18th. Barclays lifted their price target on shares of Allegheny Technologies from $23.00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday, February 7th. StockNews.com started coverage on shares of Allegheny Technologies in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research raised shares of Allegheny Technologies from a “hold” rating to a “strong-buy” rating and set a $26.00 price target on the stock in a research note on Tuesday, February 8th. Finally, KeyCorp lifted their price target on shares of Allegheny Technologies from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, April 4th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Allegheny Technologies currently has an average rating of “Buy” and a consensus target price of $26.11.

In related news, CMO Kevin B. Kramer sold 10,000 shares of Allegheny Technologies stock in a transaction on Monday, March 7th. The shares were sold at an average price of $27.00, for a total value of $270,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.82% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC boosted its holdings in Allegheny Technologies by 1,460.0% in the first quarter. FNY Investment Advisers LLC now owns 1,560 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 1,460 shares in the last quarter. Cornerstone Advisory LLC bought a new stake in Allegheny Technologies in the fourth quarter valued at $32,000. National Bank of Canada FI boosted its holdings in Allegheny Technologies by 2,264.0% in the first quarter. National Bank of Canada FI now owns 2,364 shares of the basic materials company’s stock valued at $63,000 after acquiring an additional 2,264 shares in the last quarter. Huntington National Bank boosted its holdings in Allegheny Technologies by 18.0% in the fourth quarter. Huntington National Bank now owns 3,280 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 501 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new stake in Allegheny Technologies in the first quarter valued at $99,000.

Shares of Allegheny Technologies stock opened at $25.73 on Monday. Allegheny Technologies has a 1 year low of $13.85 and a 1 year high of $30.74. The firm has a market cap of $3.19 billion, a PE ratio of -643.25 and a beta of 1.28. The company has a debt-to-equity ratio of 2.15, a current ratio of 2.61 and a quick ratio of 1.25. The company has a 50 day simple moving average of $27.31 and a two-hundred day simple moving average of $21.79.

Allegheny Technologies declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 2nd that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the basic materials company to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Allegheny Technologies Company Profile (Get Rating)

Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company 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, 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.

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