Allegheny Technologies Incorporated (NYSE:ATI) rose 7.6% on Tuesday . The company traded as high as $23.72 and last traded at $23.62. Approximately 1,872,451 shares were traded during mid-day trading, an increase of 10% from the average daily volume of 1,702,164 shares. The stock had previously closed at $21.96.

ATI has been the subject of a number of research analyst reports. ValuEngine downgraded Allegheny Technologies from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. Macquarie initiated coverage on Allegheny Technologies in a report on Thursday, February 14th. They issued an “outperform” rating and a $27.84 price target on the stock. Buckingham Research set a $45.00 price target on Allegheny Technologies and gave the company a “buy” rating in a report on Monday, April 8th. KeyCorp upped their price target on Allegheny Technologies from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. Finally, Zacks Investment Research raised Allegheny Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $32.20.

The firm has a market cap of $2.70 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 0.96 and a beta of 2.32. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.87 and a quick ratio of 1.22.

Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $991.18 million. Allegheny Technologies had a return on equity of 8.79% and a net margin of 4.41%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 earnings per share. On average, sell-side analysts predict that Allegheny Technologies Incorporated will post 1.49 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the business. Private Capital Group LLC raised its stake in Allegheny Technologies by 336.2% during the 4th quarter. Private Capital Group LLC now owns 1,348 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 1,039 shares during the period. Shine Investment Advisory Services Inc. raised its stake in Allegheny Technologies by 123.5% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 1,133 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 626 shares during the period. Quadrant Capital Group LLC raised its stake in Allegheny Technologies by 283.3% during the 1st quarter. Quadrant Capital Group LLC now owns 1,265 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 935 shares during the period. Rockefeller Capital Management L.P. acquired a new stake in Allegheny Technologies during the 1st quarter valued at $40,000. Finally, Quantamental Technologies LLC acquired a new stake in Allegheny Technologies during the 4th quarter valued at $41,000.

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Allegheny Technologies Company Profile (NYSE:ATI)

Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates through two segments, High Performance Materials & Components, and Flat-Rolled Products. The High Performance Materials & Components segment produces high performance materials, including titanium and titanium-based alloys; nickel-and cobalt-based alloys and superalloys; zirconium and related alloys, such as hafnium and niobium; powder alloys; and other specialty materials in long product forms of ingots, billets, bars, rods, wires, and shapes and rectangles, as well as seamless tubes, plus precision forgings, castings, components, and machined parts.

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