Equities Analysts Issue Forecasts for ATI Inc.’s Q1 2024 Earnings (NYSE:ATI)

ATI Inc. (NYSE:ATI) – Research analysts at Seaport Res Ptn issued their Q1 2024 earnings per share (EPS) estimates for ATI in a note issued to investors on Monday, April 15th. Seaport Res Ptn analyst R. Safran expects that the basic materials company will post earnings per share of $0.40 for the quarter. The consensus estimate for ATI’s current full-year earnings is $2.26 per share. Seaport Res Ptn also issued estimates for ATI’s Q2 2024 earnings at $0.52 EPS, Q3 2024 earnings at $0.61 EPS, Q4 2024 earnings at $0.70 EPS, FY2024 earnings at $2.23 EPS and Q4 2025 earnings at $0.89 EPS.

ATI (NYSE:ATI) last issued its earnings results on Thursday, February 1st. The basic materials company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. ATI had a return on equity of 24.64% and a net margin of 8.81%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share.

Other equities research analysts also recently issued reports about the company. KeyCorp lifted their target price on ATI from $49.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. TheStreet upgraded ATI from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Finally, Deutsche Bank Aktiengesellschaft started coverage on ATI in a report on Thursday, April 11th. They set a “buy” rating and a $70.00 price objective for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.67.

ATI Trading Up 0.7 %

Shares of ATI stock opened at $51.07 on Wednesday. The company has a market cap of $6.36 billion, a P/E ratio of 20.35, a PEG ratio of 1.45 and a beta of 1.22. The stock has a 50 day simple moving average of $48.88 and a two-hundred day simple moving average of $44.20. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.53 and a current ratio of 2.80. ATI has a fifty-two week low of $34.10 and a fifty-two week high of $52.98.

Insider Activity

In related news, VP Timothy J. Harris sold 6,325 shares of ATI stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $42.44, for a total transaction of $268,433.00. Following the transaction, the vice president now owns 109,331 shares of the company’s stock, valued at $4,640,007.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Clearstead Advisors LLC boosted its position in shares of ATI by 295.9% during the third quarter. Clearstead Advisors LLC now owns 669 shares of the basic materials company’s stock valued at $28,000 after buying an additional 500 shares during the last quarter. Belpointe Asset Management LLC boosted its position in ATI by 65.3% in the first quarter. Belpointe Asset Management LLC now owns 843 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 333 shares during the last quarter. Covestor Ltd boosted its position in ATI by 73.1% in the third quarter. Covestor Ltd now owns 1,044 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 441 shares during the last quarter. GAMMA Investing LLC purchased a new position in ATI in the fourth quarter worth $58,000. Finally, West Tower Group LLC boosted its position in ATI by 243.6% in the fourth quarter. West Tower Group LLC now owns 1,457 shares of the basic materials company’s stock worth $66,000 after purchasing an additional 1,033 shares during the last quarter.

ATI Company Profile

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.