Barclays Raises ATI (NYSE:ATI) Price Target to $75.00

ATI (NYSE:ATI) had its target price upped by investment analysts at Barclays from $70.00 to $75.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. Barclays‘s price objective indicates a potential upside of 19.56% from the company’s previous close.

Several other analysts have also commented on the stock. Susquehanna increased their price target on shares of ATI from $70.00 to $73.00 and gave the company a “positive” rating in a research report on Wednesday, February 5th. StockNews.com raised ATI from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, KeyCorp downgraded ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $74.86.

ATI Stock Down 1.2 %

Shares of NYSE ATI opened at $62.73 on Monday. The stock has a market capitalization of $8.95 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 1.69 and a beta of 1.10. ATI has a 52 week low of $39.71 and a 52 week high of $68.92. The firm has a 50-day moving average price of $57.26 and a 200 day moving average price of $60.23. The company has a quick ratio of 1.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.88.

ATI (NYSE:ATI) last posted its earnings results on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.19. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.07 billion. ATI had a return on equity of 21.16% and a net margin of 8.43%. ATI’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 earnings per share. Equities research analysts anticipate that ATI will post 2.87 EPS for the current fiscal year.

Insider Transactions at ATI

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total value of $1,474,750.00. Following the sale, the chairman now directly owns 436,443 shares of the company’s stock, valued at approximately $25,745,772.57. This trade represents a 5.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Tina Killough Busch sold 9,900 shares of ATI stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $66.41, for a total transaction of $657,459.00. Following the completion of the transaction, the senior vice president now owns 25,994 shares in the company, valued at approximately $1,726,261.54. This trade represents a 27.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,498 shares of company stock worth $2,288,141 over the last quarter. 0.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ATI

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC grew its holdings in shares of ATI by 5,005.1% during the 3rd quarter. CWM LLC now owns 35,174 shares of the basic materials company’s stock worth $2,353,000 after purchasing an additional 34,485 shares during the period. Wedmont Private Capital purchased a new stake in ATI during the third quarter worth approximately $234,000. UMB Bank n.a. increased its position in shares of ATI by 557.0% in the third quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock worth $62,000 after acquiring an additional 791 shares in the last quarter. Creative Planning raised its stake in shares of ATI by 12.9% in the 3rd quarter. Creative Planning now owns 27,894 shares of the basic materials company’s stock valued at $1,866,000 after acquiring an additional 3,179 shares during the period. Finally, nVerses Capital LLC lifted its holdings in shares of ATI by 121.6% during the 3rd quarter. nVerses Capital LLC now owns 8,200 shares of the basic materials company’s stock valued at $549,000 after acquiring an additional 4,500 shares in 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.