Q1 2024 Earnings Estimate for ATI Inc. Issued By Seaport Res Ptn (NYSE:ATI)

ATI Inc. (NYSE:ATI) – Investment analysts at Seaport Res Ptn issued their Q1 2024 earnings estimates for ATI in a report issued on Monday, April 15th. Seaport Res Ptn analyst R. Safran expects that the basic materials company will post earnings of $0.40 per share for the quarter. The consensus estimate for ATI’s current full-year earnings is $2.28 per share. Seaport Res Ptn also issued estimates for ATI’s Q2 2024 earnings at $0.52 EPS, Q3 2024 earnings at $0.61 EPS, Q4 2024 earnings at $0.70 EPS, FY2024 earnings at $2.23 EPS and Q4 2025 earnings at $0.89 EPS.

ATI (NYSE:ATI) last announced its earnings results on Thursday, February 1st. The basic materials company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. The firm had revenue of $1.06 billion for 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%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 EPS.

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

ATI Price Performance

ATI stock opened at $50.73 on Wednesday. The stock’s 50 day moving average is $48.67 and its 200 day moving average is $44.15. ATI has a one year low of $34.10 and a one year high of $52.98. The firm has a market cap of $6.31 billion, a P/E ratio of 20.21, a P/E/G ratio of 1.44 and a beta of 1.22. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.80 and a quick ratio of 1.53.

Insiders Place Their Bets

In other news, VP Timothy J. Harris sold 6,325 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $42.44, for a total transaction of $268,433.00. Following the completion of the sale, the vice president now owns 109,331 shares of the company’s stock, valued at approximately $4,640,007.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.05% of the company’s stock.

Institutional Trading of ATI

Large investors have recently made changes to their positions in the company. Clearstead Advisors LLC boosted its holdings in ATI by 295.9% in the third quarter. Clearstead Advisors LLC now owns 669 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 500 shares in the last quarter. Belpointe Asset Management LLC grew its position in ATI by 65.3% in the 1st 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 period. Covestor Ltd increased its stake in ATI by 73.1% during the 3rd 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 in the last quarter. GAMMA Investing LLC acquired a new position in ATI during the fourth quarter worth $58,000. Finally, West Tower Group LLC raised its holdings in ATI by 243.6% during the fourth quarter. West Tower Group LLC now owns 1,457 shares of the basic materials company’s stock worth $66,000 after buying 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.