KeyCorp Raises ATI (NYSE:ATI) Price Target to $33.00

ATI (NYSE:ATIGet Rating) had its target price increased by KeyCorp from $31.00 to $33.00 in a research report report published on Friday morning, Marketbeat reports. The firm currently has an overweight rating on the basic materials company’s stock.

Separately, Wolfe Research raised ATI from a market perform rating to an outperform rating and set a $33.00 price target for the company in a report on Friday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $29.14.

ATI Stock Up 5.9 %

Shares of ATI opened at $29.02 on Friday. ATI has a 52 week low of $13.85 and a 52 week high of $30.74. The company has a quick ratio of 1.25, a current ratio of 2.89 and a debt-to-equity ratio of 1.91. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 725.68 and a beta of 1.31. The stock’s 50-day moving average price is $24.12 and its 200-day moving average price is $25.08.

ATI (NYSE:ATIGet Rating) last issued its earnings results on Thursday, August 4th. The basic materials company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.17. ATI had a return on equity of 21.63% and a net margin of 0.36%. The firm had revenue of $959.50 million for the quarter, compared to the consensus estimate of $837.33 million. During the same quarter in the prior year, the business earned ($0.12) earnings per share. The company’s revenue was up 55.7% compared to the same quarter last year. On average, sell-side analysts predict that ATI will post 1.52 EPS for the current year.

Insider Buying and Selling at ATI

In related news, Director James C. Diggs sold 12,500 shares of the stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $24.00, for a total value of $300,000.00. Following the completion of the sale, the director now owns 46,060 shares of the company’s stock, valued at $1,105,440. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director James C. Diggs sold 12,500 shares of the stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $24.00, for a total value of $300,000.00. Following the completion of the sale, the director now owns 46,060 shares of the company’s stock, valued at $1,105,440. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Karl D. Schwartz sold 2,000 shares of the stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $25.00, for a total value of $50,000.00. Following the completion of the sale, the chief accounting officer now directly owns 64,833 shares of the company’s stock, valued at approximately $1,620,825. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ATI. Bowen Hanes & Co. Inc. purchased a new position in ATI in the first quarter worth approximately $40,221,000. State Street Corp grew its position in ATI by 14.8% in the first quarter. State Street Corp now owns 9,941,032 shares of the basic materials company’s stock worth $266,817,000 after acquiring an additional 1,279,827 shares during the period. Capital International Investors boosted its position in shares of ATI by 9.8% during the fourth quarter. Capital International Investors now owns 12,176,850 shares of the basic materials company’s stock worth $193,977,000 after buying an additional 1,089,416 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of ATI by 17.3% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,540,724 shares of the basic materials company’s stock worth $72,334,000 after buying an additional 669,769 shares during the period. Finally, Invesco Ltd. boosted its position in shares of ATI by 105.4% during the first quarter. Invesco Ltd. now owns 1,181,206 shares of the basic materials company’s stock worth $31,703,000 after buying an additional 606,005 shares during the period.

About ATI

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ATI Inc manufactures and sells specialty materials and components worldwide. The company 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, 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.

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