ATI (NYSE:ATI) Stock Gets Price Target Increase from Citigroup

ATI (NYSE:ATI) had its target price raised by investment analysts at Citigroup from $229.00 to $240.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. Citigroup‘s target price indicates a potential upside of 30.78% from the company’s current price.

A number of other research analysts also recently weighed in on the company. BTIG Research lifted their price target on ATI from $250.00 to $260.00 and gave the company a “buy” rating in a report on Friday. KeyCorp reduced their price objective on ATI from $258.00 to $228.00 and set an “overweight” rating for the company in a research note on Thursday, October 8th. Susquehanna raised their price objective on ATI from $215.00 to $265.00 and gave the stock a “positive” rating in a research report on Friday, August 7th. Wells Fargo & Company lowered their target price on ATI from $275.00 to $240.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 30th. Finally, Wall Street Zen upgraded ATI from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $224.56.

ATI Trading Down 3.5%

Shares of ATI traded down $6.64 during midday trading on Friday, hitting $183.52. The stock had a trading volume of 1,333,537 shares, compared to its average volume of 1,826,981. ATI has a fifty-two week low of $93.11 and a fifty-two week high of $243.57. The business has a 50-day simple moving average of $185.35 and a two-hundred day simple moving average of $175.52. The firm has a market cap of $24.93 billion, a P/E ratio of 45.88, a price-to-earnings-growth ratio of 1.09 and a beta of 1.09. The company has a current ratio of 2.77, a quick ratio of 1.27 and a debt-to-equity ratio of 0.85.

ATI (NYSE:ATI) last released its earnings results on Thursday, October 29th. The basic materials company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.09. ATI had a net margin of 11.08% and a return on equity of 32.30%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the firm posted $0.85 earnings per share. The firm’s quarterly revenue was up 26.5% compared to the same quarter last year. As a group, equities analysts forecast that ATI will post 5.24 EPS for the current year.

Insider Activity at ATI

In related news, Director David J. Morehouse sold 2,485 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $201.61, for a total value of $501,000.85. Following the transaction, the director owned 35,826 shares in the company, valued at approximately $7,222,879.86. This represents a 6.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Timothy J. Harris sold 9,000 shares of the firm’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $191.82, for a total transaction of $1,726,380.00. Following the transaction, the vice president owned 88,187 shares in the company, valued at $16,916,030.34. This represents a 9.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 85,830 shares of company stock valued at $18,046,361. Insiders own 0.98% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ATI. CoreCap Advisors LLC acquired a new position in ATI in the second quarter worth about $30,000. Retirement Wealth Solutions LLC acquired a new position in ATI in the third quarter worth $30,000. Signature Equity Partners LLC lifted its position in ATI by 208.5% during the 1st quarter. Signature Equity Partners LLC now owns 182 shares of the basic materials company’s stock worth $26,000 after buying an additional 123 shares in the last quarter. Provenance Wealth Advisors LLC bought a new stake in ATI during the 3rd quarter worth about $37,000. Finally, V Square Quantitative Management LLC increased its position in ATI by 71.9% in the 3rd quarter. V Square Quantitative Management LLC now owns 220 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 92 shares in the last quarter.

ATI Company Profile

ATI Inc. produces specialty materials and components for aerospace and defense, energy, medical, and other industrial markets. Its materials include titanium and titanium alloys, nickel- and cobalt-based alloys, specialty stainless steels, and other engineered metals designed for demanding applications. The company makes products such as sheet, plate, strip, and bar, along with precision forgings, castings, and engineered components. ATI serves customers worldwide through manufacturing and distribution operations in North America and other regions.