ATI (NYSE:ATI) Given New $105.00 Price Target at Susquehanna

ATI (NYSE:ATI) had its price objective boosted by Susquehanna from $73.00 to $105.00 in a research note released on Monday,Benzinga reports. Susquehanna currently has a positive rating on the basic materials company’s stock.

ATI has been the subject of several other research reports. KeyCorp lowered ATI from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, May 20th. Benchmark reiterated a “buy” rating and set a $81.00 target price on shares of ATI in a report on Monday, April 21st. Deutsche Bank Aktiengesellschaft set a $115.00 target price on ATI and gave the stock a “hold” rating in a report on Tuesday, July 8th. BTIG Research set a $105.00 target price on ATI and gave the stock a “buy” rating in a research note on Wednesday, May 28th. Finally, Citigroup raised shares of ATI to a “positive” rating in a report on Tuesday, May 20th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $87.29.

ATI Trading Up 1.4%

ATI opened at $90.53 on Monday. The business has a 50 day simple moving average of $80.75 and a two-hundred day simple moving average of $63.79. The firm has a market capitalization of $12.77 billion, a price-to-earnings ratio of 32.80, a PEG ratio of 1.19 and a beta of 1.13. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.53 and a quick ratio of 1.30. ATI has a one year low of $39.23 and a one year high of $91.74.

ATI (NYSE:ATI) last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. ATI had a return on equity of 21.37% and a net margin of 8.93%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the business posted $0.48 EPS. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. Analysts predict that ATI will post 2.89 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman Robert S. Wetherbee sold 50,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $68.18, for a total value of $3,409,000.00. Following the sale, the chairman directly owned 506,538 shares in the company, valued at $34,535,760.84. This represents a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 195,359 shares of company stock worth $15,103,486 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On ATI

Several hedge funds and other institutional investors have recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB increased its holdings in ATI by 79.5% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 386 shares of the basic materials company’s stock valued at $33,000 after buying an additional 171 shares during the last quarter. WPG Advisers LLC acquired a new position in ATI in the first quarter valued at approximately $29,000. Golden State Wealth Management LLC boosted its stake in ATI by 104.1% in the first quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 304 shares during the period. Bessemer Group Inc. boosted its position in shares of ATI by 139.9% during the first quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company’s stock worth $34,000 after buying an additional 386 shares during the period. Finally, Olde Wealth Management LLC acquired a new position in shares of ATI during the first quarter worth approximately $36,000.

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.