ATI (NYSE:ATI) Hits New 1-Year High at $52.98

ATI Inc. (NYSE:ATI) hit a new 52-week high during trading on Monday . The stock traded as high as $52.98 and last traded at $52.62, with a volume of 42732 shares traded. The stock had previously closed at $51.64.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ATI shares. Deutsche Bank Aktiengesellschaft started coverage on ATI in a report on Thursday, April 11th. They set a “buy” rating and a $70.00 price objective for the company. KeyCorp boosted their price objective on ATI from $49.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Finally, TheStreet raised ATI from a “c+” rating to a “b-” rating in a report on Friday, January 26th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.67.

ATI Stock Up 0.2 %

The stock has a 50-day moving average of $48.46 and a two-hundred day moving average of $44.11. The company has a market cap of $6.37 billion, a P/E ratio of 20.39 and a beta of 1.22. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.53 and a current ratio of 2.80.

ATI (NYSE:ATI) last released its earnings results on Thursday, February 1st. The basic materials company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. ATI had a return on equity of 24.64% and a net margin of 8.81%. ATI’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS. On average, research analysts anticipate that ATI Inc. will post 2.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Timothy J. Harris sold 6,325 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $42.44, for a total value of $268,433.00. Following the completion of the sale, the vice president now owns 109,331 shares in the company, valued at approximately $4,640,007.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.05% of the stock is currently owned by corporate insiders.

Institutional Trading of ATI

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Clearstead Advisors LLC lifted its position in ATI by 295.9% in the third quarter. Clearstead Advisors LLC now owns 669 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 500 shares during the last quarter. Belpointe Asset Management LLC lifted its position in ATI by 65.3% in the first quarter. Belpointe Asset Management LLC now owns 843 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 333 shares during the last quarter. Covestor Ltd lifted its position in ATI by 73.1% in the third quarter. Covestor Ltd now owns 1,044 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 441 shares during the last quarter. GAMMA Investing LLC bought a new stake in ATI in the fourth quarter valued at approximately $58,000. Finally, West Tower Group LLC lifted its position in ATI by 243.6% in the fourth quarter. West Tower Group LLC now owns 1,457 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 1,033 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.