ATI Inc. (NYSE:ATI) Given Consensus Rating of “Moderate Buy” by Analysts

ATI Inc. (NYSE:ATI) has earned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $73.71.

A number of analysts have commented on ATI shares. Deutsche Bank Aktiengesellschaft boosted their target price on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. KeyCorp cut shares of ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Susquehanna cut their target price on shares of ATI from $75.00 to $70.00 and set a “positive” rating for the company in a research report on Wednesday, October 30th. Benchmark reiterated a “buy” rating and issued a $80.00 price target on shares of ATI in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. increased their target price on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st.

ATI Trading Up 0.8 %

ATI opened at $60.63 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 2.94 and a debt-to-equity ratio of 0.97. The firm has a market cap of $8.65 billion, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 2.08 and a beta of 1.08. The business’s 50 day moving average is $61.05 and its two-hundred day moving average is $60.59. ATI has a 52 week low of $38.04 and a 52 week high of $68.92.

ATI (NYSE:ATI) last announced its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.06). ATI had a net margin of 8.85% and a return on equity of 21.39%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the firm posted $0.55 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, research analysts predict that ATI will post 2.27 EPS for the current year.

ATI declared that its board has approved a share repurchase program on Tuesday, September 3rd that permits the company to repurchase $700.00 million in outstanding shares. This repurchase authorization permits the basic materials company to repurchase up to 9.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the transaction, the chairman now owns 486,443 shares in the company, valued at approximately $30,271,347.89. The trade was a 4.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.05% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in shares of ATI in the second quarter valued at about $26,000. UMB Bank n.a. boosted its holdings in ATI by 557.0% in the 3rd quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock worth $62,000 after acquiring an additional 791 shares during the period. EverSource Wealth Advisors LLC grew its position in ATI by 294.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock valued at $69,000 after acquiring an additional 1,010 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of ATI during the second quarter valued at approximately $88,000. Finally, nVerses Capital LLC purchased a new position in shares of ATI in the second quarter valued at $205,000.

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.