J P Morgan Chase & Co upgraded shares of Allegheny Technologies Incorporated (NYSE:ATI) from an underweight rating to a neutral rating in a research note issued to investors on Wednesday, MarketBeat.com reports. They currently have $19.00 price target on the basic materials company’s stock, up from their prior price target of $14.50.

ATI has been the subject of several other research reports. BidaskClub lowered shares of Allegheny Technologies from a hold rating to a sell rating in a research report on Tuesday, June 20th. Zacks Investment Research lowered shares of Allegheny Technologies from a hold rating to a sell rating in a research report on Monday, July 17th. Berenberg Bank raised shares of Allegheny Technologies from a sell rating to a hold rating and increased their price target for the stock from $16.10 to $17.20 in a research report on Monday, April 24th. Finally, Cowen and Company increased their price target on shares of Allegheny Technologies from $15.00 to $18.00 and gave the stock a market perform rating in a research report on Monday, April 17th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $19.65.

Allegheny Technologies (NYSE:ATI) opened at 18.93 on Wednesday. The firm’s market capitalization is $2.06 billion. Allegheny Technologies has a 52 week low of $13.15 and a 52 week high of $23.69. The firm has a 50-day moving average price of $17.31 and a 200-day moving average price of $17.85.

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

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A number of hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Allegheny Technologies by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,187,268 shares of the basic materials company’s stock valued at $18,914,000 after buying an additional 3,728 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Allegheny Technologies during the fourth quarter valued at $286,000. Thrivent Financial for Lutherans boosted its stake in shares of Allegheny Technologies by 10.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 18,700 shares of the basic materials company’s stock valued at $298,000 after buying an additional 1,700 shares in the last quarter. Norges Bank purchased a new stake in shares of Allegheny Technologies during the fourth quarter valued at $9,262,000. Finally, Teachers Advisors LLC boosted its stake in shares of Allegheny Technologies by 283.1% in the fourth quarter. Teachers Advisors LLC now owns 672,670 shares of the basic materials company’s stock valued at $10,716,000 after buying an additional 497,106 shares in the last quarter. 96.61% of the stock is currently owned by hedge funds and other institutional investors.

About Allegheny Technologies

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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