ATI (NYSE:ATI) Given New $73.00 Price Target at Susquehanna

ATI (NYSE:ATI) had its target price boosted by Susquehanna from $70.00 to $73.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a positive rating on the basic materials company’s stock.

Several other research analysts also recently commented on ATI. StockNews.com downgraded shares of ATI from a “hold” rating to a “sell” rating in a report on Wednesday, January 29th. KeyCorp lowered ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ATI has an average rating of “Moderate Buy” and a consensus price target of $74.14.

ATI Stock Performance

NYSE:ATI opened at $65.76 on Wednesday. The business’s fifty day moving average is $57.14 and its 200 day moving average is $60.20. The firm has a market cap of $9.38 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 1.52 and a beta of 1.10. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.94. ATI has a 52-week low of $38.42 and a 52-week high of $68.92.

ATI (NYSE:ATI) last announced its quarterly 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. ATI had a return on equity of 21.39% and a net margin of 8.85%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the business posted $0.64 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. Research analysts predict that ATI will post 2.28 EPS for the current year.

Insider Buying and Selling

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $58.99, for a total value of $1,474,750.00. Following the completion of the transaction, the chairman now directly owns 436,443 shares in the company, valued at approximately $25,745,772.57. This represents a 5.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Tina Killough Busch sold 2,598 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $60.02, for a total value of $155,931.96. Following the transaction, the senior vice president now owns 21,553 shares in the company, valued at $1,293,611.06. This trade represents a 10.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.05% of the stock is owned by company insiders.

Institutional Investors Weigh In On ATI

A number of hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC grew its holdings in shares of ATI by 236.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,406 shares of the basic materials company’s stock valued at $132,000 after purchasing an additional 1,690 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of ATI by 0.8% during the fourth quarter. Fisher Asset Management LLC now owns 663,729 shares of the basic materials company’s stock valued at $36,532,000 after buying an additional 5,417 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of ATI in the fourth quarter worth about $618,000. Oregon Public Employees Retirement Fund lifted its stake in shares of ATI by 14.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 33,521 shares of the basic materials company’s stock valued at $1,845,000 after acquiring an additional 4,200 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its holdings in ATI by 3.6% during the 4th quarter. Illinois Municipal Retirement Fund now owns 69,555 shares of the basic materials company’s stock valued at $3,828,000 after acquiring an additional 2,404 shares during the period.

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.