ATI (NYSE:ATI) Price Target Raised to $70.00 at Barclays

ATI (NYSE:ATI) had its target price hoisted by research analysts at Barclays from $55.00 to $70.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. Barclays‘s price target indicates a potential upside of 17.02% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of ATI in a research note on Thursday, April 11th. They issued a “buy” rating and a $70.00 target price on the stock. TheStreet raised shares of ATI from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Finally, KeyCorp increased their price target on shares of ATI from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.17.

ATI Trading Up 1.3 %

Shares of ATI stock opened at $59.82 on Monday. The company’s 50-day moving average price is $51.21 and its 200-day moving average price is $45.67. The company has a market cap of $7.44 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 1.50 and a beta of 1.17. The company has a current ratio of 2.81, a quick ratio of 1.37 and a debt-to-equity ratio of 1.56. ATI has a 12-month low of $34.10 and a 12-month high of $61.58.

ATI (NYSE:ATI) last announced its earnings results on Tuesday, April 30th. The basic materials company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. ATI had a net margin of 8.70% and a return on equity of 23.72%. ATI’s quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the firm posted $0.49 earnings per share. On average, equities analysts expect that ATI will post 2.4 earnings per share for the current fiscal year.

Insider Transactions at ATI

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 value of $268,433.00. Following the transaction, the vice president now owns 109,331 shares in the company, valued at $4,640,007.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.05% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. bought a new position in shares of ATI in the fourth quarter worth approximately $1,698,000. Ballentine Partners LLC purchased a new stake in ATI in the fourth quarter worth $1,100,000. Louisiana State Employees Retirement System purchased a new stake in ATI in the fourth quarter worth $2,901,000. Assenagon Asset Management S.A. lifted its stake in ATI by 735.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 355,202 shares of the basic materials company’s stock worth $16,151,000 after acquiring an additional 312,699 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in ATI by 67.3% in the third quarter. Victory Capital Management Inc. now owns 973,372 shares of the basic materials company’s stock worth $40,054,000 after acquiring an additional 391,554 shares during the period.

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.