ATI Inc. (NYSE:ATI) Given Average Rating of “Moderate Buy” by Brokerages

ATI Inc. (NYSE:ATI) has been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $73.71.

A number of brokerages have recently issued reports on ATI. Deutsche Bank Aktiengesellschaft raised their price target on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Susquehanna reduced their target price on ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research report on Wednesday, October 30th. KeyCorp cut ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. boosted their price objective on shares of ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, StockNews.com raised shares of ATI from a “sell” rating to a “hold” rating in a research note on Wednesday.

Insider Activity at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total value of $1,555,750.00. Following the sale, the chairman now owns 486,443 shares of the company’s stock, valued at $30,271,347.89. This trade represents a 4.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Tina Killough Busch sold 2,598 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total value of $155,931.96. Following the transaction, the senior vice president now directly owns 21,553 shares of the company’s stock, valued at approximately $1,293,611.06. This represents a 10.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,598 shares of company stock worth $4,726,682. Company insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On ATI

A number of large investors have recently modified their holdings of the company. Mountaineer Partners Management LLC lifted its position in shares of ATI by 4,401.2% during the 3rd quarter. Mountaineer Partners Management LLC now owns 9,410,891 shares of the basic materials company’s stock worth $629,683,000 after purchasing an additional 9,201,818 shares during the last quarter. Millennium Management LLC lifted its holdings in ATI by 165.1% during the 2nd quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company’s stock worth $107,846,000 after buying an additional 1,211,273 shares during the last quarter. Senator Investment Group LP lifted its holdings in ATI by 167.6% during the 2nd quarter. Senator Investment Group LP now owns 891,138 shares of the basic materials company’s stock worth $49,414,000 after buying an additional 558,138 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in shares of ATI during the 2nd quarter worth about $28,896,000. Finally, Forest Avenue Capital Management LP purchased a new position in shares of ATI in the 3rd quarter valued at about $28,700,000.

ATI Stock Up 0.9 %

Shares of NYSE:ATI opened at $56.50 on Friday. ATI has a 52-week low of $38.04 and a 52-week high of $68.92. The stock has a market cap of $8.06 billion, a P/E ratio of 21.73, a PEG ratio of 1.98 and a beta of 1.09. The business has a fifty day moving average of $59.31 and a two-hundred day moving average of $60.40. The company has a quick ratio of 1.44, a current ratio of 2.94 and a debt-to-equity ratio of 0.97.

ATI (NYSE:ATI) last announced its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.06). ATI had a net margin of 8.85% and a return on equity of 21.39%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the firm posted $0.55 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. On average, research analysts expect that ATI will post 2.27 earnings per share for the current year.

ATI announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, September 3rd that authorizes the company to repurchase $700.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to repurchase up to 9.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

ATI Company Profile

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.