Allegheny Technologies Incorporated (NYSE:ATI)‘s stock had its “hold” rating reaffirmed by research analysts at KeyCorp in a research note issued on Wednesday.

A number of other equities research analysts have also recently issued reports on the stock. Cowen and Company reissued a “hold” rating and issued a $18.00 target price on shares of Allegheny Technologies in a research report on Thursday. Bank of America Corporation raised shares of Allegheny Technologies from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $16.00 to $24.00 in a research report on Monday, September 11th. Longbow Research reaffirmed a “buy” rating and set a $24.00 price objective on shares of Allegheny Technologies in a research report on Wednesday, August 23rd. Zacks Investment Research raised shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Finally, BidaskClub raised shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $20.60.

Allegheny Technologies (NYSE ATI) traded up 2.20% during trading on Wednesday, hitting $24.57. 2,126,433 shares of the stock were exchanged. Allegheny Technologies has a 52 week low of $13.15 and a 52 week high of $25.51. The stock’s market capitalization is $2.68 billion. The firm has a 50-day moving average of $22.56 and a 200-day moving average of $18.64.

Allegheny Technologies (NYSE:ATI) last announced its earnings results on Tuesday, July 25th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.02. The company had revenue of $880.20 million during the quarter, compared to analysts’ expectations of $874.95 million. Allegheny Technologies had a negative net margin of 14.89% and a positive return on equity of 0.08%. Allegheny Technologies’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.21) earnings per share. Equities research analysts anticipate that Allegheny Technologies will post ($1.00) earnings per share for the current fiscal year.

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A number of institutional investors and hedge funds have recently bought and sold shares of ATI. Financial Architects Inc lifted its position in Allegheny Technologies by 180.0% during the second quarter. Financial Architects Inc now owns 7,000 shares of the basic materials company’s stock worth $119,000 after purchasing an additional 4,500 shares during the period. Creative Planning lifted its position in Allegheny Technologies by 2,619.9% during the second quarter. Creative Planning now owns 7,534 shares of the basic materials company’s stock worth $128,000 after purchasing an additional 7,257 shares during the period. Riverhead Capital Management LLC lifted its position in Allegheny Technologies by 72.9% during the second quarter. Riverhead Capital Management LLC now owns 8,297 shares of the basic materials company’s stock worth $141,000 after purchasing an additional 3,497 shares during the period. LS Investment Advisors LLC lifted its position in Allegheny Technologies by 24.1% during the second quarter. LS Investment Advisors LLC now owns 8,982 shares of the basic materials company’s stock worth $153,000 after purchasing an additional 1,745 shares during the period. Finally, Flinton Capital Management LLC lifted its position in Allegheny Technologies by 70.8% during the second quarter. Flinton Capital Management LLC now owns 9,184 shares of the basic materials company’s stock worth $156,000 after purchasing an additional 3,808 shares during the period.

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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