ATI (NYSE:ATI) Sets New 12-Month High at $41.62

Posted by Defense World Staff on Mar 3rd, 2023

ATI Inc. (NYSE:ATI – Get Rating)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $41.62 and last traded at $41.54, with a volume of 61389 shares. The stock had previously closed at $40.65.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Benchmark upped their price objective on ATI from $37.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, February 3rd. KeyCorp upped their price objective on ATI from $36.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Seaport Res Ptn reaffirmed a “buy” rating on shares of ATI in a research report on Saturday, January 21st. Finally, Cowen upped their target price on ATI from $37.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, February 6th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.50.

ATI Trading Down 0.2 %

The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 47.93 and a beta of 1.21. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.33 and a current ratio of 2.57. The business has a 50-day moving average of $36.23 and a 200-day moving average of $31.94.

ATI (NYSE:ATI – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The basic materials company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. ATI had a return on equity of 30.40% and a net margin of 3.41%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the firm earned $0.25 EPS. The firm’s revenue for the quarter was up 32.0% on a year-over-year basis. As a group, research analysts forecast that ATI Inc. will post 2.17 EPS for the current year.

Insiders Place Their Bets

In other ATI news, insider Elliot S. Davis sold 28,572 shares of the stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $30.68, for a total transaction of $876,588.96. Following the completion of the sale, the insider now directly owns 160,350 shares of the company’s stock, valued at approximately $4,919,538. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ATI news, insider Elliot S. Davis sold 28,572 shares of the stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $30.68, for a total transaction of $876,588.96. Following the completion of the sale, the insider now directly owns 160,350 shares of the company’s stock, valued at approximately $4,919,538. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Elliot S. Davis sold 9,627 shares of the stock in a transaction that occurred on Wednesday, February 8th. The stock was sold at an average price of $39.07, for a total value of $376,126.89. Following the sale, the insider now directly owns 151,642 shares of the company’s stock, valued at $5,924,652.94. The disclosure for this sale can be found here. 0.82% of the stock is owned by insiders.

Hedge Funds Weigh In On ATI

A number of large investors have recently modified their holdings of the business. Natixis raised its stake in shares of ATI by 94.9% during the 4th quarter. Natixis now owns 177,817 shares of the basic materials company’s stock worth $5,310,000 after buying an additional 86,600 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of ATI by 1.9% during the 4th quarter. Macquarie Group Ltd. now owns 1,056,557 shares of the basic materials company’s stock worth $31,549,000 after buying an additional 20,125 shares in the last quarter. Point72 Middle East FZE purchased a new position in shares of ATI during the 4th quarter worth approximately $75,000. Harbour Investments Inc. purchased a new position in shares of ATI during the 4th quarter worth approximately $127,000. Finally, Apollon Wealth Management LLC purchased a new position in ATI in the 4th quarter valued at approximately $335,000.

ATI Company Profile

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ATI, Inc engages in the manufacture of specialty materials and components. It operates through the High Performance Materials and Components (HPMC) and Advanced Alloys & Solutions (AA&S) segments. The HPMC segment consists of the production of materials, parts, and components for aerospace and defense, medical, and energy markets.