ATI (NYSE:ATI) Issues FY24 Earnings Guidance

ATI (NYSE:ATI) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $2.30-2.60 for the period, compared to the consensus EPS estimate of $2.28. ATI also updated its FY 2024 guidance to 2.300-2.600 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. 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. TheStreet raised shares of ATI from a c+ rating to a b- rating in a research report on Friday, January 26th. Finally, KeyCorp boosted their target price on shares of ATI from $56.00 to $58.00 and gave the company an overweight rating in a research note on Monday, April 22nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $56.00.

ATI Price Performance

NYSE ATI traded up $8.98 on Tuesday, hitting $60.88. The stock had a trading volume of 2,871,010 shares, compared to its average volume of 1,308,239. ATI has a 52-week low of $34.10 and a 52-week high of $61.58. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.53 and a current ratio of 2.80. The company has a market capitalization of $7.58 billion, a price-to-earnings ratio of 23.47, a price-to-earnings-growth ratio of 1.46 and a beta of 1.22. The firm has a 50-day moving average of $49.73 and a 200-day moving average of $44.75.

ATI (NYSE:ATI) last posted its earnings results on Thursday, February 1st. The basic materials company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. ATI had a net margin of 8.81% and a return on equity of 24.64%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the company posted $0.53 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts expect that ATI will post 2.26 EPS for the current year.

Insiders Place Their Bets

In other ATI news, VP Timothy J. Harris sold 6,325 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $42.44, for a total value of $268,433.00. Following the sale, the vice president now directly owns 109,331 shares in the company, valued at approximately $4,640,007.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.05% of the company’s stock.

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.