Allegheny Technologies Incorporated (ATI) Receives Average Rating of “Hold” from Analysts
Allegheny Technologies Incorporated (NYSE:ATI) has been given an average rating of “Hold” by the ten analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $21.00.
ATI has been the subject of a number of analyst reports. Cowen restated a “hold” rating and set a $18.00 price objective on shares of Allegheny Technologies in a research report on Thursday, October 12th. KeyCorp restated a “hold” rating on shares of Allegheny Technologies in a research report on Wednesday, October 11th. Berenberg Bank set a $17.00 price objective on shares of Allegheny Technologies and gave the stock a “hold” rating in a research report on Thursday, October 19th. Finally, Zacks Investment Research downgraded shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a research report on Monday.
Shares of Allegheny Technologies (NYSE:ATI) traded down $0.44 during trading hours on Monday, reaching $28.70. 3,446,400 shares of the company were exchanged, compared to its average volume of 2,493,667. The firm has a market cap of $3,120.00, a PE ratio of -35.00 and a beta of 2.39. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.04 and a current ratio of 2.68. Allegheny Technologies has a 12-month low of $14.54 and a 12-month high of $29.39.
Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings results on Tuesday, October 24th. The basic materials company reported ($0.07) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.07). The firm had revenue of $869.10 million during the quarter, compared to analysts’ expectations of $866.94 million. Allegheny Technologies had a negative net margin of 2.45% and a positive return on equity of 1.09%. Allegheny Technologies’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.21) EPS. analysts anticipate that Allegheny Technologies will post 0.32 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in ATI. Riverhead Capital Management LLC increased its holdings in shares of Allegheny Technologies by 72.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 8,297 shares of the basic materials company’s stock valued at $141,000 after purchasing an additional 3,497 shares in the last quarter. Strs Ohio purchased a new position in shares of Allegheny Technologies in the 3rd quarter valued at about $145,000. Flinton Capital Management LLC increased its holdings in shares of Allegheny Technologies by 70.8% in the 2nd quarter. Flinton Capital Management LLC now owns 9,184 shares of the basic materials company’s stock valued at $156,000 after purchasing an additional 3,808 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Allegheny Technologies by 2.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 9,587 shares of the basic materials company’s stock valued at $163,000 after purchasing an additional 201 shares in the last quarter. Finally, Sciencast Management LP purchased a new position in shares of Allegheny Technologies in the 2nd quarter valued at about $179,000.
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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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