ATI (NYSE:ATI) Coverage Initiated at BTIG Research

Research analysts at BTIG Research initiated coverage on shares of ATI (NYSE:ATI) in a research report issued on Wednesday, MarketBeat reports. The firm set a “buy” rating and a $70.00 price target on the basic materials company’s stock. BTIG Research’s price target would indicate a potential upside of 23.85% from the stock’s current price.

A number of other analysts have also recently commented on ATI. Northcoast Research cut shares of ATI from a “neutral” rating to a “sell” rating in a research report on Friday, June 14th. KeyCorp upped their price objective on shares of ATI from $58.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ATI in a research report on Thursday, April 11th. They issued a “buy” rating and a $70.00 price objective for the company. Finally, Barclays upped their price objective on shares of ATI from $55.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $63.83.

ATI Stock Performance

Shares of ATI stock opened at $56.52 on Wednesday. The firm has a fifty day moving average of $57.47 and a two-hundred day moving average of $49.96. The stock has a market capitalization of $7.03 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 1.40 and a beta of 1.12. ATI has a 52 week low of $35.03 and a 52 week high of $62.44. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.37 and a current ratio of 2.81.

ATI (NYSE:ATI) last issued its earnings results on Tuesday, April 30th. The basic materials company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.41 by $0.07. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. ATI had a net margin of 8.70% and a return on equity of 23.72%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS. As a group, equities research analysts predict that ATI will post 2.45 EPS for the current year.

Hedge Funds Weigh In On ATI

Large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in shares of ATI by 294.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock worth $69,000 after buying an additional 1,010 shares during the last quarter. Comerica Bank boosted its stake in shares of ATI by 137.2% during the 1st quarter. Comerica Bank now owns 141,243 shares of the basic materials company’s stock worth $7,227,000 after buying an additional 81,708 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of ATI by 143.8% during the 1st quarter. Tidal Investments LLC now owns 11,312 shares of the basic materials company’s stock worth $579,000 after buying an additional 6,673 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of ATI by 11.0% during the 1st quarter. Jane Street Group LLC now owns 106,237 shares of the basic materials company’s stock worth $5,436,000 after buying an additional 10,561 shares during the last quarter. Finally, Appian Way Asset Management LP boosted its stake in shares of ATI by 57.6% during the 1st quarter. Appian Way Asset Management LP now owns 172,408 shares of the basic materials company’s stock worth $8,822,000 after buying an additional 63,008 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.