ATI (NYSE:ATI) Releases Earnings Results

ATI (NYSE:ATI) announced its quarterly earnings data on Tuesday. The basic materials company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06), Briefing.com reports. ATI had a net margin of 8.74% and a return on equity of 23.05%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis.

ATI Price Performance

Shares of ATI traded down $1.13 during trading hours on Wednesday, reaching $55.69. The company had a trading volume of 986,443 shares, compared to its average volume of 1,432,395. The firm has a 50 day simple moving average of $63.24 and a 200-day simple moving average of $60.24. The company has a current ratio of 2.13, a quick ratio of 1.07 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $6.93 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 1.38 and a beta of 1.04. ATI has a 12-month low of $36.70 and a 12-month high of $68.92.

ATI announced that its board has approved a stock buyback program on Tuesday, September 3rd that permits the company to repurchase $700.00 million in shares. This repurchase authorization permits the basic materials company to buy up to 9.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ATI. JPMorgan Chase & Co. increased 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 dropped their price objective on shares of ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft increased their target price on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. KeyCorp downgraded shares of ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Finally, Benchmark reaffirmed a “buy” rating and issued a $80.00 target price on shares of ATI in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, ATI has an average rating of “Moderate Buy” and an average target price of $73.71.

Insider Activity

In other 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 value of $1,540,250.00. Following the completion of the transaction, the chairman now owns 511,443 shares in the company, valued at $31,510,003.23. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.05% of the company’s stock.

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.