ATI (NYSE:ATI) PT Raised to $84.00

ATI (NYSE:ATI) had its target price lifted by research analysts at Deutsche Bank Aktiengesellschaft from $81.00 to $84.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 29.07% from the company’s previous close.

Other research analysts also recently issued reports about the stock. BTIG Research started coverage on shares of ATI in a research report on Wednesday, June 26th. They set a “buy” rating and a $70.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on shares of ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Susquehanna started coverage on shares of ATI in a research report on Thursday, September 5th. They set a “positive” rating and a $75.00 price objective on the stock. Northcoast Research downgraded shares of ATI from a “neutral” rating to a “sell” rating in a research report on Friday, June 14th. Finally, Benchmark reissued a “buy” rating and set a $80.00 price objective on shares of ATI in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $74.43.

ATI Trading Up 1.8 %

NYSE:ATI opened at $65.08 on Thursday. The company has a fifty day moving average of $63.47 and a 200 day moving average of $58.56. ATI has a 52 week low of $35.03 and a 52 week high of $68.92. The company has a quick ratio of 1.07, a current ratio of 2.13 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $8.10 billion, a P/E ratio of 26.14, a P/E/G ratio of 1.60 and a beta of 1.04.

ATI (NYSE:ATI) last posted its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. ATI had a net margin of 8.74% and a return on equity of 23.05%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.59 EPS. On average, research analysts predict that ATI will post 2.48 earnings per share for the current year.

ATI announced that its board has authorized a share buyback program on Tuesday, September 3rd that allows the company to repurchase $700.00 million in outstanding shares. This repurchase authorization allows the basic materials company to repurchase up to 9.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at ATI

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $61.61, for a total transaction of $1,540,250.00. Following the sale, the chairman now directly owns 511,443 shares of the company’s stock, valued at approximately $31,510,003.23. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.71% of the company’s stock.

Institutional Trading of ATI

Several institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in 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 valued at $3,822,000 after purchasing an additional 216 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in ATI by 3.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,113 shares of the basic materials company’s stock valued at $364,000 after purchasing an additional 224 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in ATI by 4.3% during the 1st quarter. First Trust Direct Indexing L.P. now owns 5,849 shares of the basic materials company’s stock valued at $299,000 after purchasing an additional 239 shares during the last quarter. Beck Capital Management LLC grew its position in ATI by 0.8% during the 2nd quarter. Beck Capital Management LLC now owns 34,229 shares of the basic materials company’s stock valued at $1,898,000 after purchasing an additional 262 shares during the last quarter. Finally, Nvwm LLC boosted its holdings in shares of ATI by 2.1% during the 1st quarter. Nvwm LLC now owns 16,177 shares of the basic materials company’s stock valued at $828,000 after acquiring an additional 334 shares during 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.