Allegheny Technologies (NYSE:ATI) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Friday.

A number of other research firms also recently issued reports on ATI. JPMorgan Chase & Co. boosted their price target on Allegheny Technologies from $18.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Bank of America reissued a “neutral” rating and set a $32.00 price target on shares of Allegheny Technologies in a research report on Wednesday, January 24th. They noted that the move was a valuation call. Zacks Investment Research downgraded Allegheny Technologies from a “hold” rating to a “sell” rating in a research report on Monday, January 15th. Buckingham Research boosted their price target on Allegheny Technologies from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Finally, Cowen reissued a “buy” rating and set a $32.00 price target on shares of Allegheny Technologies in a research report on Tuesday, January 23rd. Three analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. Allegheny Technologies has a consensus rating of “Hold” and an average price target of $28.38.

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Shares of Allegheny Technologies (NYSE:ATI) opened at $24.14 on Friday. Allegheny Technologies has a 1 year low of $14.54 and a 1 year high of $30.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.04 and a current ratio of 2.69. The stock has a market capitalization of $3,247.08, a PE ratio of -28.07 and a beta of 2.37.

Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings results on Tuesday, January 23rd. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.12. Allegheny Technologies had a positive return on equity of 3.47% and a negative net margin of 2.61%. The firm had revenue of $909.90 million during the quarter, compared to the consensus estimate of $898.22 million. During the same quarter in the previous year, the business earned ($0.04) earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. equities research analysts forecast that Allegheny Technologies will post 1.26 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Allegheny Technologies by 42.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,625 shares of the basic materials company’s stock worth $184,000 after buying an additional 2,269 shares during the period. Flinton Capital Management LLC boosted its position in shares of Allegheny Technologies by 24.1% in the fourth quarter. Flinton Capital Management LLC now owns 13,104 shares of the basic materials company’s stock worth $316,000 after buying an additional 2,548 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of Allegheny Technologies by 9.3% in the fourth quarter. Louisiana State Employees Retirement System now owns 31,800 shares of the basic materials company’s stock worth $768,000 after buying an additional 2,700 shares during the period. First Mercantile Trust Co. boosted its position in shares of Allegheny Technologies by 10.6% in the fourth quarter. First Mercantile Trust Co. now owns 30,745 shares of the basic materials company’s stock worth $742,000 after buying an additional 2,941 shares during the period. Finally, Global X Management Co. LLC boosted its position in shares of Allegheny Technologies by 75.3% in the fourth quarter. Global X Management Co. LLC now owns 7,579 shares of the basic materials company’s stock worth $183,000 after buying an additional 3,255 shares during the period.

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Allegheny Technologies Company Profile

Allegheny Technologies Incorporated is a manufacturer of specialty materials and complex components. The Company operates through two business segments: High Performance Materials & Components (HPMC), and Flat Rolled Products (FRP). The HPMC segment produces, converts and distributes a range of materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, zirconium and related alloys, including hafnium and niobium, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, plus precision forgings, castings, components and machined parts.

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Analyst Recommendations for Allegheny Technologies (NYSE:ATI)

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