Susquehanna Cuts ATI (NYSE:ATI) Price Target to $100.00

ATI (NYSE:ATI) had its price objective lowered by Susquehanna from $105.00 to $100.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a positive rating on the basic materials company’s stock.

ATI has been the topic of several other research reports. KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, May 20th. BTIG Research set a $105.00 price objective on shares of ATI and gave the company a “buy” rating in a research note on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft set a $115.00 price objective on shares of ATI and gave the company a “hold” rating in a research report on Tuesday, July 8th. Benchmark reaffirmed a “buy” rating and set a $81.00 price objective on shares of ATI in a research report on Monday, April 21st. Finally, Citigroup raised shares of ATI to a “positive” rating in a research report on Tuesday, May 20th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.00.

ATI Trading Down 0.4%

NYSE ATI opened at $76.64 on Friday. ATI has a twelve month low of $39.23 and a twelve month high of $96.20. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.20 and a current ratio of 2.52. The stock has a market cap of $10.56 billion, a price-to-earnings ratio of 26.61, a PEG ratio of 1.02 and a beta of 1.20. The firm’s 50 day moving average price is $85.97 and its two-hundred day moving average price is $67.46.

ATI (NYSE:ATI) last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.02. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.15 billion. ATI had a net margin of 9.26% and a return on equity of 21.34%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 EPS. Equities analysts anticipate that ATI will post 2.89 EPS for the current year.

Insiders Place Their Bets

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $83.93, for a total value of $4,196,500.00. Following the completion of the sale, the chairman directly owned 356,538 shares in the company, valued at approximately $29,924,234.34. The trade was a 12.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders sold 195,359 shares of company stock valued at $15,103,486. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ATI

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pictet Asset Management Holding SA boosted its stake in ATI by 11.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 19,240 shares of the basic materials company’s stock valued at $1,059,000 after purchasing an additional 1,941 shares during the period. Geode Capital Management LLC boosted its stake in ATI by 10.1% during the 4th quarter. Geode Capital Management LLC now owns 2,150,204 shares of the basic materials company’s stock valued at $118,389,000 after purchasing an additional 197,270 shares during the period. Cinctive Capital Management LP bought a new stake in ATI during the 4th quarter valued at approximately $796,000. Invesco Ltd. boosted its stake in ATI by 4.5% during the 4th quarter. Invesco Ltd. now owns 4,696,500 shares of the basic materials company’s stock valued at $258,495,000 after purchasing an additional 203,742 shares during the period. Finally, Legal & General Group Plc boosted its stake in ATI by 4.4% during the 4th quarter. Legal & General Group Plc now owns 401,083 shares of the basic materials company’s stock valued at $22,076,000 after purchasing an additional 16,830 shares during the period.

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.