ATI (NYSE:ATI) Stock Rating Upgraded by Wolfe Research

ATI (NYSE:ATI – Get Rating) was upgraded by equities researchers at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued to investors on Friday, MarketBeat reports. The firm presently has a $33.00 price objective on the basic materials company’s stock. Wolfe Research’s price objective points to a potential upside of 13.71% from the stock’s previous close.

Separately, KeyCorp reduced their price objective on shares of ATI from $34.00 to $31.00 and set an “overweight” rating for the company in a research note on Friday, July 8th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.14.

ATI Stock Performance

Shares of NYSE ATI opened at $29.02 on Friday. The firm’s 50-day moving average price is $24.12 and its two-hundred day moving average price is $25.14. The stock has a market capitalization of $3.60 billion, a P/E ratio of 725.68 and a beta of 1.31. The company has a quick ratio of 1.30, a current ratio of 2.89 and a debt-to-equity ratio of 1.91. ATI has a 52-week low of $13.85 and a 52-week high of $30.74.

ATI (NYSE:ATI – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The basic materials company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.17. The company had revenue of $959.50 million for the quarter, compared to analysts’ expectations of $837.33 million. ATI had a return on equity of 21.63% and a net margin of 0.36%. The business’s revenue for the quarter was up 55.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.12) earnings per share. As a group, sell-side analysts forecast that ATI will post 1.52 earnings per share for the current year.

Insider Activity at ATI

In related news, Director James C. Diggs sold 12,500 shares of ATI stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $24.00, for a total transaction of $300,000.00. Following the sale, the director now directly owns 46,060 shares in the company, valued at approximately $1,105,440. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director James C. Diggs sold 12,500 shares of the business’s stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $24.00, for a total transaction of $300,000.00. Following the transaction, the director now owns 46,060 shares in the company, valued at approximately $1,105,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Karl D. Schwartz sold 2,000 shares of the business’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $25.00, for a total transaction of $50,000.00. Following the sale, the chief accounting officer now owns 64,833 shares of the company’s stock, valued at approximately $1,620,825. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ATI

Several institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in shares of ATI in the fourth quarter worth approximately $554,000. State of New Jersey Common Pension Fund D lifted its holdings in ATI by 20.9% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 175,211 shares of the basic materials company’s stock worth $2,791,000 after purchasing an additional 30,231 shares in the last quarter. Yousif Capital Management LLC purchased a new stake in shares of ATI during the 4th quarter worth approximately $1,827,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of ATI by 23.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,213 shares of the basic materials company’s stock valued at $274,000 after purchasing an additional 3,251 shares during the last quarter. Finally, Emerald Advisers LLC bought a new position in ATI in the 4th quarter valued at $89,000.

ATI Company Profile

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ATI Inc manufactures and sells specialty materials and components worldwide. The company 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, 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.