ATI (NYSE:ATI) Stock Price Expected to Rise, Barclays Analyst Says

ATI (NYSE:ATI) had its target price hoisted by investment analysts at Barclays from $75.00 to $90.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. Barclays‘s price objective suggests a potential upside of 20.84% from the stock’s current price.

ATI has been the topic of several other reports. JPMorgan Chase & Co. raised their price objective on ATI from $75.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Deutsche Bank Aktiengesellschaft set a $115.00 price target on shares of ATI and gave the company a “hold” rating in a research note on Tuesday, July 8th. KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a report 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 report on Wednesday, May 28th. Finally, Citigroup upgraded shares of ATI to a “positive” rating in a research report on Tuesday, May 20th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $91.14.

ATI Trading Down 1.5%

ATI stock opened at $74.48 on Monday. The firm has a market cap of $10.27 billion, a PE ratio of 25.86, a P/E/G ratio of 1.00 and a beta of 1.20. ATI has a 12 month low of $39.23 and a 12 month high of $96.20. The stock’s 50 day simple moving average is $85.87 and its two-hundred day simple moving average is $67.64. The company has a current ratio of 2.52, a quick ratio of 1.20 and a debt-to-equity ratio of 0.92.

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

Insider Buying and Selling

In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of ATI stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $83.93, for a total transaction of $4,196,500.00. Following the sale, the chairman owned 356,538 shares of the company’s stock, valued at $29,924,234.34. The trade was a 12.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 145,359 shares of company stock valued at $11,694,486. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ATI

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Signaturefd LLC raised its holdings in ATI by 117.7% in the 2nd quarter. Signaturefd LLC now owns 381 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 206 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of 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 purchasing an additional 171 shares in the last quarter. WPG Advisers LLC purchased a new position in ATI during the first quarter worth approximately $29,000. Golden State Wealth Management LLC lifted its position in ATI by 104.1% during the first quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company’s stock worth $31,000 after buying an additional 304 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in 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 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.