Allegheny Technologies (NYSE:ATI) announced its quarterly earnings data on Tuesday. The basic materials company reported $0.12 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12, Bloomberg Earnings reports. The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $991.18 million. Allegheny Technologies had a return on equity of 10.28% and a net margin of 5.50%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 EPS.
Allegheny Technologies stock opened at $25.14 on Tuesday. The stock has a market cap of $3.24 billion, a PE ratio of 16.65, a P/E/G ratio of 1.02 and a beta of 2.39. Allegheny Technologies has a 1 year low of $20.84 and a 1 year high of $30.18. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.68 and a quick ratio of 1.24.
In other news, Director Barabara S. Jeremiah sold 7,500 shares of the business’s stock in a transaction dated Thursday, January 24th. The stock was sold at an average price of $25.61, for a total transaction of $192,075.00. Following the completion of the transaction, the director now directly owns 33,833 shares in the company, valued at approximately $866,463.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Richard J. Harshman sold 10,780 shares of the business’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $29.13, for a total value of $314,021.40. The disclosure for this sale can be found here. Insiders have sold a total of 45,628 shares of company stock valued at $1,301,542 over the last 90 days. Corporate insiders own 1.06% of the company’s stock.
Several analysts have weighed in on the company. Macquarie cut Allegheny Technologies from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $34.00 to $28.00 in a report on Friday, April 12th. Zacks Investment Research raised Allegheny Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, April 9th. ValuEngine raised Allegheny Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, Buckingham Research dropped their price objective on Allegheny Technologies from $45.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Allegheny Technologies presently has an average rating of “Buy” and a consensus target price of $32.91.
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 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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