ATI Inc. (NYSE:ATI – Get Rating) – Investment analysts at KeyCorp dropped their Q1 2023 earnings per share estimates for ATI in a research report issued to clients and investors on Monday, March 6th. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will post earnings per share of $0.48 for the quarter, down from their prior forecast of $0.51. KeyCorp has a “Overweight” rating and a $47.00 price objective on the stock. The consensus estimate for ATI’s current full-year earnings is $2.17 per share. KeyCorp also issued estimates for ATI’s Q2 2023 earnings at $0.53 EPS, Q3 2023 earnings at $0.57 EPS, Q4 2023 earnings at $0.62 EPS and FY2024 earnings at $2.82 EPS.
ATI has been the topic of several other research reports. Seaport Res Ptn restated a “buy” rating on shares of ATI in a research report on Saturday, January 21st. Cowen lifted their price objective on ATI from $37.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, February 6th. Finally, Benchmark lifted their price objective on ATI from $37.00 to $47.00 and gave the company a “buy” rating in a report on Friday, February 3rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.00.
ATI Stock Performance
ATI (NYSE:ATI – Get Rating) last posted its earnings results on Thursday, February 2nd. The basic materials company reported $0.53 EPS 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 business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The business’s revenue was up 32.0% compared to the same quarter last year.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the business. OLD Mission Capital LLC acquired a new position in ATI in the 4th quarter valued at $56,000. Natixis increased its holdings 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 during the last quarter. Macquarie Group Ltd. increased its holdings 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 during the last quarter. Point72 Middle East FZE acquired a new stake in shares of ATI during the 4th quarter worth $75,000. Finally, Harbour Investments Inc. acquired a new stake in shares of ATI during the 4th quarter worth $127,000.
Insider Buying and Selling
In related news, insider Elliot S. Davis sold 9,627 shares of ATI stock in a transaction that occurred on Wednesday, February 8th. The stock was sold at an average price of $39.07, for a total transaction of $376,126.89. Following the completion of the transaction, the insider now directly owns 151,642 shares in the company, valued at approximately $5,924,652.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.82% of the company’s stock.
ATI Company Profile
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.
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