Allegheny Technologies Incorporated (ATI) Expected to Post Quarterly Sales of $982.46 Million

Equities analysts expect Allegheny Technologies Incorporated (NYSE:ATI) to report sales of $982.46 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Allegheny Technologies’ earnings, with estimates ranging from $969.96 million to $998.10 million. Allegheny Technologies reported sales of $909.90 million in the same quarter last year, which would suggest a positive year over year growth rate of 8%. The company is expected to issue its next earnings report before the market opens on Tuesday, January 22nd.

On average, analysts expect that Allegheny Technologies will report full-year sales of $3.99 billion for the current fiscal year, with estimates ranging from $3.98 billion to $4.01 billion. For the next financial year, analysts forecast that the firm will report sales of $4.24 billion, with estimates ranging from $4.14 billion to $4.39 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Allegheny Technologies.

Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings data on Tuesday, October 23rd. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.02). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1 billion. Allegheny Technologies had a return on equity of 10.15% and a net margin of 4.67%. Allegheny Technologies’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.07) EPS.



ATI has been the topic of a number of research reports. ValuEngine upgraded Allegheny Technologies from a “sell” rating to a “hold” rating in a report on Monday, September 17th. Cowen reiterated a “buy” rating and issued a $35.00 target price on shares of Allegheny Technologies in a report on Monday, September 17th. JPMorgan Chase & Co. upgraded Allegheny Technologies from an “underweight” rating to a “neutral” rating and set a $28.00 target price on the stock in a report on Wednesday, October 24th. Zacks Investment Research downgraded Allegheny Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 25th. Finally, Berenberg Bank initiated coverage on Allegheny Technologies in a report on Thursday, December 6th. They issued a “buy” rating and a $35.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $33.70.

Shares of ATI opened at $24.79 on Friday. The stock has a market capitalization of $3.11 billion, a PE ratio of 51.65, a price-to-earnings-growth ratio of 0.77 and a beta of 2.29. Allegheny Technologies has a fifty-two week low of $20.84 and a fifty-two week high of $30.25. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.21 and a current ratio of 2.90.

In related news, VP Karl D. Schwartz sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $27.10, for a total value of $27,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fernwood Investment Management LLC bought a new stake in shares of Allegheny Technologies in the 3rd quarter valued at approximately $207,000. MAI Capital Management bought a new stake in Allegheny Technologies during the second quarter worth approximately $207,000. First Hawaiian Bank bought a new stake in Allegheny Technologies during the third quarter worth approximately $225,000. Public Employees Retirement System of Ohio bought a new stake in Allegheny Technologies during the second quarter worth approximately $238,000. Finally, MML Investors Services LLC bought a new stake in Allegheny Technologies during the third quarter worth approximately $241,000.

About Allegheny Technologies

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.

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