Cowen Reaffirms Buy Rating for Allegheny Technologies (ATI)

Allegheny Technologies (NYSE:ATI)‘s stock had its “buy” rating restated by analysts at Cowen in a research note issued to investors on Friday. They presently have a $35.00 target price on the basic materials company’s stock. Cowen’s price target would suggest a potential upside of 36.08% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Barclays assumed coverage on shares of Allegheny Technologies in a research note on Thursday, March 29th. They set an “overweight” rating and a $33.00 target price for the company. JPMorgan Chase boosted their target price on shares of Allegheny Technologies from $18.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Bank of America reiterated a “neutral” rating and set a $32.00 target price on shares of Allegheny Technologies in a research note on Wednesday, January 24th. They noted that the move was a valuation call. KeyCorp upgraded shares of Allegheny Technologies from a “sector weight” rating to an “overweight” rating and set a $31.00 target price for the company in a research note on Thursday, March 1st. They noted that the move was a valuation call. Finally, Buckingham Research boosted their target price on shares of Allegheny Technologies from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $29.22.

Shares of ATI stock traded up $0.61 on Friday, reaching $25.72. 1,243,248 shares of the stock were exchanged, compared to its average volume of 1,936,678. The company has a current ratio of 2.69, a quick ratio of 1.04 and a debt-to-equity ratio of 0.83. The company has a market cap of $3,136.50, a P/E ratio of 53.67 and a beta of 2.39. Allegheny Technologies has a twelve month low of $14.54 and a twelve month high of $30.25.



Allegheny Technologies (NYSE:ATI) last issued its earnings results on Tuesday, January 23rd. The basic materials company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. The firm had revenue of $909.90 million during the quarter, compared to the consensus estimate of $898.22 million. Allegheny Technologies had a negative net margin of 2.61% and a positive return on equity of 3.47%. The company’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. equities analysts forecast that Allegheny Technologies will post 1.26 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Iridian Asset Management LLC CT boosted its stake in Allegheny Technologies by 0.4% in the fourth quarter. Iridian Asset Management LLC CT now owns 8,649,563 shares of the basic materials company’s stock valued at $208,800,000 after acquiring an additional 35,508 shares in the last quarter. Frontier Capital Management Co. LLC raised its holdings in shares of Allegheny Technologies by 35.7% in the fourth quarter. Frontier Capital Management Co. LLC now owns 7,848,107 shares of the basic materials company’s stock valued at $189,453,000 after buying an additional 2,065,137 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Allegheny Technologies by 15.9% in the fourth quarter. Millennium Management LLC now owns 3,177,259 shares of the basic materials company’s stock valued at $76,699,000 after buying an additional 436,832 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Allegheny Technologies by 1.9% in the fourth quarter. Royce & Associates LP now owns 1,526,487 shares of the basic materials company’s stock valued at $36,849,000 after buying an additional 27,815 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Allegheny Technologies by 17.2% in the fourth quarter. Geode Capital Management LLC now owns 1,043,800 shares of the basic materials company’s stock valued at $25,197,000 after buying an additional 153,086 shares during the last quarter.

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Allegheny Technologies Company Profile

Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates through two segments, High Performance Materials & Components, and Flat-Rolled Products. The High Performance Materials & Components segment produces, converts, and distributes a range of high performance materials, including titanium and titanium-based alloys; nickel-and cobalt-based alloys and superalloys; zirconium and related alloys, such as hafnium and niobium; powder alloys; and other specialty materials in long product forms of ingots, billets, bars, rods, wires, and shapes and rectangles, as well as seamless tubes, plus precision forgings, castings, components, and machined parts.

Analyst Recommendations for Allegheny Technologies (NYSE:ATI)

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