ATI Inc. (NYSE:ATI) Given Average Recommendation of “Moderate Buy” by Brokerages

ATI Inc. (NYSE:ATI) has received an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $73.71.

Several research firms recently issued reports on ATI. Susquehanna dropped their target price on shares of ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft raised their target price on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Benchmark reissued a “buy” rating and issued a $80.00 price target on shares of ATI in a research note on Wednesday, August 7th. Finally, KeyCorp downgraded shares of ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th.

ATI Trading Up 2.0 %

Shares of ATI stock opened at $59.30 on Wednesday. ATI has a 1-year low of $38.04 and a 1-year high of $68.92. The company has a current ratio of 2.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. The stock has a market cap of $8.46 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 2.05 and a beta of 1.08. The stock has a 50-day moving average of $61.08 and a 200-day moving average of $60.60.

ATI (NYSE:ATI) last released its earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.12 billion. ATI had a net margin of 8.85% and a return on equity of 21.39%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.55 EPS. On average, equities research analysts forecast that ATI will post 2.27 earnings per share for the current year.

ATI declared that its Board of Directors has initiated a share repurchase program on Tuesday, September 3rd that permits the company to repurchase $700.00 million in outstanding shares. This repurchase authorization permits the basic materials company to purchase up to 9.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total value of $1,555,750.00. Following the transaction, the chairman now directly owns 486,443 shares of the company’s stock, valued at approximately $30,271,347.89. This trade represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.05% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ATI

Several hedge funds and other institutional investors have recently made changes to their positions in ATI. Sequoia Financial Advisors LLC boosted its stake in ATI by 3.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,383 shares of the basic materials company’s stock valued at $360,000 after purchasing an additional 172 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of ATI by 3.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 7,113 shares of the basic materials company’s stock valued at $364,000 after buying an additional 224 shares during the last quarter. Beck Capital Management LLC grew its holdings in ATI by 0.8% during the second quarter. Beck Capital Management LLC now owns 34,229 shares of the basic materials company’s stock worth $1,898,000 after buying an additional 262 shares in the last quarter. KBC Group NV grew its holdings in ATI by 12.9% during the third quarter. KBC Group NV now owns 3,362 shares of the basic materials company’s stock worth $225,000 after buying an additional 385 shares in the last quarter. Finally, Souders Financial Advisors raised its position in ATI by 6.1% in the 3rd quarter. Souders Financial Advisors now owns 7,125 shares of the basic materials company’s stock valued at $477,000 after buying an additional 411 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.