ATI Inc. (NYSE:ATI) Stock Has Consensus Target Price of $224.56

ATI Inc. (NYSE:ATI) has earned a consensus recommendation of “Buy” from the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $224.56.

Several research analysts recently weighed in on the company. Citigroup boosted their target price on ATI from $229.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday. BTIG Research increased their price target on ATI from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Friday. Susquehanna raised their price target on ATI from $215.00 to $265.00 and gave the stock a “positive” rating in a report on Friday, August 7th. Deutsche Bank restated a “buy” rating and set a $262.00 price target on shares of ATI in a research note on Monday, August 10th. Finally, Wells Fargo & Company cut their price objective on shares of ATI from $275.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, September 30th.

ATI Stock Down 3.5%

NYSE:ATI traded down $6.64 during midday trading on Friday, reaching $183.52. 1,345,368 shares of the stock traded hands, compared to its average volume of 1,913,048. The stock has a market capitalization of $24.93 billion, a PE ratio of 45.88, a price-to-earnings-growth ratio of 1.04 and a beta of 1.09. ATI has a 12-month low of $93.11 and a 12-month high of $243.57. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.27 and a current ratio of 2.77. The business has a 50-day moving average of $184.93 and a two-hundred day moving average of $175.82.

ATI (NYSE:ATI) last released its quarterly earnings results on Thursday, October 29th. The basic materials company reported $1.46 earnings per share (EPS) 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 analyst estimates of $1.32 billion. During the same period in the previous year, the company earned $0.85 earnings per share. The business’s revenue for the quarter was up 26.5% on a year-over-year basis. On average, equities analysts forecast that ATI will post 5.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ATI news, VP Timothy Harris sold 9,000 shares of the business’s stock in a transaction that occurred 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 sale, the vice president owned 88,187 shares of the company’s stock, valued at approximately $16,916,030.34. The trade was a 9.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Morehouse sold 2,485 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $201.61, for a total transaction of $501,000.85. Following the completion of the transaction, the director directly owned 35,826 shares of the company’s stock, valued at approximately $7,222,879.86. This represents a 6.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have 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

Institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in ATI in the second quarter valued at $3,687,529,000. Bank of America Corp DE purchased a new position in shares of ATI during the 2nd quarter valued at about $348,285,000. Bank of New York Mellon Corp purchased a new position in shares of ATI during the 2nd quarter valued at about $168,996,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of ATI by 231.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,203,726 shares of the basic materials company’s stock valued at $175,094,000 after buying an additional 840,455 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of ATI by 1,714.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 831,736 shares of the basic materials company’s stock valued at $120,984,000 after buying an additional 785,885 shares during the period.

About ATI

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.