ATI (NYSE:ATI) Shares Gap Down to $60.97

ATI Inc. (NYSE:ATI)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $60.97, but opened at $58.11. ATI shares last traded at $59.18, with a volume of 65,739 shares trading hands.

Analyst Ratings Changes

Several analysts have issued reports on ATI shares. Benchmark boosted their price objective on ATI from $56.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Deutsche Bank Aktiengesellschaft began coverage on shares of ATI in a research report on Thursday, April 11th. They set a “buy” rating and a $70.00 price objective on the stock. Northcoast Research lowered ATI from a “neutral” rating to a “sell” rating in a report on Friday, June 14th. KeyCorp lifted their price target on ATI from $58.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. Finally, Barclays upped their target price on ATI from $55.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, May 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, ATI has a consensus rating of “Moderate Buy” and an average price target of $71.20.

ATI Trading Down 1.5 %

The firm has a market capitalization of $7.48 billion, a P/E ratio of 24.46, a P/E/G ratio of 1.56 and a beta of 1.07. The company’s fifty day moving average is $58.96 and its 200-day moving average is $53.21. The company has a current ratio of 2.81, a quick ratio of 1.37 and a debt-to-equity ratio of 1.56.

Hedge Funds Weigh In On ATI

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC acquired a new position in shares of ATI during the second quarter valued at about $11,740,000. Versor Investments LP acquired a new position in shares of ATI in the second quarter valued at $236,000. Natixis Advisors LLC lifted its position in ATI by 4.5% in the second quarter. Natixis Advisors LLC now owns 64,882 shares of the basic materials company’s stock worth $3,598,000 after purchasing an additional 2,776 shares during the period. nVerses Capital LLC acquired a new stake in ATI during the second quarter worth $205,000. Finally, Maryland State Retirement & Pension System raised its stake in shares of ATI by 15.3% in the 2nd quarter. Maryland State Retirement & Pension System now owns 53,000 shares of the basic materials company’s stock valued at $2,939,000 after buying an additional 7,029 shares in the last quarter.

About ATI

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.