ATI Inc. (NYSE:ATI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of ATI Inc. (NYSE:ATIGet Free Report) have earned an average rating of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $74.43.

ATI has been the topic of a number of research analyst reports. BTIG Research started coverage on shares of ATI in a report on Wednesday, June 26th. They set a “buy” rating and a $70.00 price objective on the stock. Benchmark reissued a “buy” rating and issued a $80.00 price target on shares of ATI in a research note on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Northcoast Research downgraded ATI from a “neutral” rating to a “sell” rating in a report on Friday, June 14th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd.

Get Our Latest Stock Report on ATI

ATI Stock Performance

Shares of NYSE:ATI opened at $64.64 on Tuesday. The stock has a market capitalization of $8.04 billion, a P/E ratio of 25.96, a P/E/G ratio of 1.60 and a beta of 1.04. The company has a current ratio of 2.13, a quick ratio of 1.07 and a debt-to-equity ratio of 1.26. ATI has a 1-year low of $35.03 and a 1-year high of $68.92. The business has a 50-day moving average price of $63.46 and a two-hundred day moving average price of $58.93.

ATI (NYSE:ATIGet Free Report) last released its earnings results on Tuesday, August 6th. The basic materials company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. ATI had a net margin of 8.74% and a return on equity of 23.05%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 EPS. Equities analysts predict that ATI will post 2.48 earnings per share for the current year.

ATI announced that its Board of Directors has initiated a stock buyback program on Tuesday, September 3rd that authorizes the company to buyback $700.00 million in shares. This buyback authorization authorizes the basic materials company to repurchase up to 9.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $61.61, for a total transaction of $1,540,250.00. Following the transaction, the chairman now directly owns 511,443 shares of the company’s stock, valued at approximately $31,510,003.23. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.71% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ATI

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of ATI in the 2nd quarter valued at $26,000. Benjamin F. Edwards & Company Inc. acquired a new position in ATI during the first quarter worth about $51,000. EverSource Wealth Advisors LLC raised its stake in ATI by 294.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock worth $69,000 after acquiring an additional 1,010 shares in the last quarter. Quest Partners LLC bought a new position in shares of ATI in the second quarter worth about $88,000. Finally, GAMMA Investing LLC grew its holdings in shares of ATI by 46.5% during the 1st quarter. GAMMA Investing LLC now owns 1,868 shares of the basic materials company’s stock valued at $96,000 after purchasing an additional 593 shares during the last quarter.

ATI Company Profile

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ATI Inc produces and sells specialty materials and complex components worldwide. It operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, metallic powder alloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.

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Analyst Recommendations for ATI (NYSE:ATI)

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