StockNews.com Downgrades ATI (NYSE:ATI) to Sell

ATI (NYSE:ATI) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

ATI has been the topic of several other reports. KeyCorp cut shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft boosted their price target on ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Susquehanna decreased their price objective on shares of ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.71.

ATI Stock Performance

Shares of ATI stock traded up $0.09 during trading on Thursday, reaching $55.61. 1,438,364 shares of the company’s stock were exchanged, compared to its average volume of 1,364,893. The stock has a market capitalization of $7.93 billion, a PE ratio of 21.39, a PEG ratio of 1.95 and a beta of 1.12. The firm’s fifty day moving average price is $56.93 and its 200-day moving average price is $60.08. ATI has a twelve month low of $38.04 and a twelve month high of $68.92. The company has a quick ratio of 1.44, a current ratio of 2.94 and a debt-to-equity ratio of 0.97.

ATI (NYSE:ATI) last issued its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share (EPS) 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 the consensus estimate of $1.12 billion. ATI had a return on equity of 21.39% and a net margin of 8.85%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 EPS. As a group, sell-side analysts anticipate that ATI will post 2.27 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Tina Killough Busch sold 2,598 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total value of $155,931.96. Following the sale, the senior vice president now directly owns 21,553 shares in the company, valued at $1,293,611.06. This represents a 10.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total transaction of $1,474,750.00. Following the sale, the chairman now directly owns 436,443 shares of the company’s stock, valued at $25,745,772.57. This represents a 5.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,598 shares of company stock valued at $3,186,432 in the last ninety days. 0.71% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ATI

Several hedge funds and other institutional investors have recently bought and sold shares of ATI. Lord Abbett & CO. LLC acquired a new stake in ATI during the third quarter worth approximately $3,088,000. Franklin Resources Inc. boosted its holdings in shares of ATI by 16.2% during the 3rd quarter. Franklin Resources Inc. now owns 445,746 shares of the basic materials company’s stock worth $27,993,000 after buying an additional 61,999 shares in the last quarter. Geode Capital Management LLC grew its position in shares of ATI by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,952,934 shares of the basic materials company’s stock worth $130,709,000 after buying an additional 5,165 shares during the period. MML Investors Services LLC increased its stake in shares of ATI by 16.7% in the 3rd quarter. MML Investors Services LLC now owns 6,311 shares of the basic materials company’s stock valued at $422,000 after acquiring an additional 904 shares in the last quarter. Finally, Orion Portfolio Solutions LLC increased its stake in shares of ATI by 8.3% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 8,300 shares of the basic materials company’s stock valued at $555,000 after acquiring an additional 633 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.