KeyCorp reissued their hold rating on shares of Allegheny Technologies Incorporated (NYSE:ATI) in a research report sent to investors on Thursday.

Other equities analysts have also issued reports about the stock. Berenberg Bank set a $17.00 price target on shares of Allegheny Technologies and gave the stock a hold rating in a research report on Thursday, October 19th. Cowen and Company reiterated a hold rating and issued a $18.00 price target on shares of Allegheny Technologies in a research report on Thursday, October 12th. Bank of America Corporation upgraded shares of Allegheny Technologies from an underperform rating to a buy rating and upped their price target for the stock from $16.00 to $24.00 in a research report on Monday, September 11th. Longbow Research reiterated a buy rating and issued a $24.00 price target on shares of Allegheny Technologies in a research report on Wednesday, August 23rd. Finally, J P Morgan Chase & Co upgraded shares of Allegheny Technologies from an underweight rating to a neutral rating and upped their price target for the stock from $14.50 to $19.00 in a research report on Wednesday, July 26th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $20.57.

Shares of Allegheny Technologies (NYSE:ATI) traded up $0.04 during midday trading on Thursday, reaching $21.93. 3,232,574 shares of the company traded hands, compared to its average volume of 3,147,934. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.68 and a quick ratio of 1.04. The company has a market capitalization of $2,387.37, a price-to-earnings ratio of 156.64 and a beta of 2.44. Allegheny Technologies has a 12 month low of $14.54 and a 12 month high of $26.59.

Allegheny Technologies (NYSE:ATI) last announced its earnings results on Tuesday, October 24th. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). The company had revenue of $869.10 million during the quarter, compared to analyst estimates of $866.94 million. Allegheny Technologies had a negative net margin of 2.45% and a positive return on equity of 1.09%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.21) earnings per share. analysts predict that Allegheny Technologies will post 0.32 EPS for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank lifted its holdings in shares of Allegheny Technologies by 1.2% in the second quarter. Amalgamated Bank now owns 15,449 shares of the basic materials company’s stock worth $263,000 after buying an additional 186 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Allegheny Technologies by 2.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 9,587 shares of the basic materials company’s stock worth $163,000 after buying an additional 201 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of Allegheny Technologies by 0.9% in the second quarter. Prudential Financial Inc. now owns 73,002 shares of the basic materials company’s stock worth $1,242,000 after buying an additional 660 shares in the last quarter. State Treasurer State of Michigan lifted its holdings in shares of Allegheny Technologies by 1.6% in the second quarter. State Treasurer State of Michigan now owns 44,900 shares of the basic materials company’s stock worth $764,000 after buying an additional 700 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Allegheny Technologies by 1.5% in the second quarter. Arizona State Retirement System now owns 45,900 shares of the basic materials company’s stock worth $781,000 after buying an additional 700 shares in the last quarter.

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.

Analyst Recommendations for Allegheny Technologies (NYSE:ATI)

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