ATI (NYSE:ATI) Now Covered by Citigroup

Citigroup initiated coverage on shares of ATI (NYSE:ATI) in a research note issued to investors on Thursday, Marketbeat reports. The brokerage issued a buy rating and a $229.00 price target on the basic materials company’s stock.

Other equities research analysts have also recently issued reports about the company. BTIG Research cut their price target on ATI from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, October 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $262.00 price target on shares of ATI in a research report on Monday, August 10th. Wells Fargo & Company lowered their price objective on ATI from $275.00 to $240.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 30th. Weiss Ratings cut ATI from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, October 29th. Finally, TD Cowen lifted their price objective on ATI from $170.00 to $210.00 and gave the company a “buy” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, ATI currently has a consensus rating of “Buy” and an average target price of $222.22.

ATI Price Performance

NYSE:ATI opened at $168.21 on Thursday. ATI has a 52 week low of $93.11 and a 52 week high of $243.57. The firm has a market cap of $22.85 billion, a price-to-earnings ratio of 42.05, a P/E/G ratio of 1.05 and a beta of 1.09. The firm’s 50-day simple moving average is $187.56 and its 200 day simple moving average is $174.01. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.27 and a current ratio of 2.77.

ATI (NYSE:ATI) last posted its quarterly earnings data on Thursday, October 29th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.09. ATI had a net margin of 11.08% and a return on equity of 32.30%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the firm posted $0.85 EPS. The business’s revenue for the quarter was up 26.5% compared to the same quarter last year. As a group, sell-side analysts predict that ATI will post 5.22 earnings per share for the current year.

Insider Activity

In related news, VP Timothy J. Harris sold 16,500 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $210.01, for a total transaction of $3,465,165.00. Following the sale, the vice president owned 130,187 shares in the company, valued at approximately $27,340,571.87. This trade represents a 11.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David J. Morehouse sold 2,485 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $201.61, for a total transaction of $501,000.85. Following the sale, the director owned 35,826 shares in the company, valued at $7,222,879.86. This represents a 6.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 85,830 shares of company stock worth $18,046,361. 0.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ATI

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in ATI in the second quarter valued at approximately $3,687,529,000. Bank of America Corp DE acquired a new position in shares of ATI during the second quarter worth $348,285,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of ATI by 231.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,203,726 shares of the basic materials company’s stock worth $175,094,000 after buying an additional 840,455 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of ATI by 71.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 861,151 shares of the basic materials company’s stock worth $164,600,000 after buying an additional 359,113 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of ATI in the 2nd quarter valued at $168,996,000.

ATI News Roundup

Here are the key news stories impacting ATI this week:

• Positive Sentiment: Zacks highlighted ATI’s strong cash-flow growth, higher EBITDA guidance and disciplined share repurchases, which could support debt reduction and shareholder returns. Can ATI Leverage Strong Cash Generation to Strengthen Returns?
• Positive Sentiment: Citigroup initiated coverage with a Buy rating and a $229 price target. KeyCorp reiterated Overweight with a $228 target and forecast EPS of $5.29 for FY2026 and $6.50 for FY2027, above the current-year consensus estimate of about $5.20. Citigroup stock recommendations
• Positive Sentiment: ATI was added to Zacks’ Rank #1 (Strong Buy) growth-stocks list, adding to the favorable analyst outlook. Best Growth Stocks to Buy for November 4th
• Negative Sentiment: A Seeking Alpha article titled “ATI: Flying Too Close To The Sun” signals a cautious view that the stock may be vulnerable after its strong run, potentially weighing on sentiment. ATI: Flying Too Close To The Sun

About ATI

ATI Inc (NYSE: ATI) is a specialty materials and components manufacturer serving demanding applications in the aerospace and defense, medical, energy, and industrial markets. The company develops and produces materials designed to perform in high-temperature, high-strength, and corrosion-resistant environments.

Its products include nickel-based superalloys, titanium and titanium-based materials, specialty steels, precision-rolled materials, forgings, and other engineered components. These products are used in aircraft engines and airframes, defense systems, medical implants and devices, power-generation equipment, and other industrial applications.

ATI was formed in 1996 through the combination of Allegheny Ludlum Corporation and Teledyne, Inc The company serves customers in the United States and international markets through manufacturing and processing operations across North America and Europe.