ATI (NYSE:ATI) Sets New 1-Year High at $59.82

Shares of ATI Inc. (NYSE:ATI) reached a new 52-week high on Tuesday . The company traded as high as $59.82 and last traded at $59.20, with a volume of 696119 shares changing hands. The stock had previously closed at $51.90.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ATI. TheStreet raised shares of ATI from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ATI in a research report on Thursday, April 11th. They issued a “buy” rating and a $70.00 price target on the stock. Finally, KeyCorp boosted their price objective on shares of ATI from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.00.

ATI Stock Up 17.5 %

The company has a current ratio of 2.80, a quick ratio of 1.53 and a debt-to-equity ratio of 1.45. The business’s 50-day simple moving average is $49.73 and its 200 day simple moving average is $44.75. The firm has a market cap of $7.59 billion, a PE ratio of 23.47, a P/E/G ratio of 1.46 and a beta of 1.22.

ATI (NYSE:ATI) last issued its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. ATI had a return on equity of 24.64% and a net margin of 8.81%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.53 EPS. As a group, equities research analysts expect that ATI Inc. will post 2.26 earnings per share for the current year.

Insider Buying and Selling at ATI

In other news, VP Timothy J. Harris sold 6,325 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $42.44, for a total value of $268,433.00. Following the completion of the sale, the vice president now directly owns 109,331 shares in the company, valued at $4,640,007.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.05% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ATI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its position in shares of ATI by 0.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 84,050 shares of the basic materials company’s stock worth $3,822,000 after purchasing an additional 216 shares during the period. First Trust Direct Indexing L.P. grew its stake in shares of ATI by 4.3% in the first quarter. First Trust Direct Indexing L.P. now owns 5,849 shares of the basic materials company’s stock valued at $299,000 after buying an additional 239 shares in the last quarter. Evergreen Capital Management LLC raised its holdings in shares of ATI by 4.1% in the 3rd quarter. Evergreen Capital Management LLC now owns 6,582 shares of the basic materials company’s stock valued at $271,000 after buying an additional 258 shares during the period. Inspire Investing LLC lifted its stake in ATI by 4.1% during the 3rd quarter. Inspire Investing LLC now owns 7,409 shares of the basic materials company’s stock worth $305,000 after acquiring an additional 291 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in ATI by 73.1% during the 3rd quarter. Covestor Ltd now owns 1,044 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 441 shares during the period.

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.