Seaport Res Ptn Comments on ATI Inc.’s Q1 2024 Earnings (NYSE:ATI)

ATI Inc. (NYSE:ATI) – Analysts at Seaport Res Ptn issued their Q1 2024 earnings per share (EPS) estimates for ATI in a report issued on Monday, April 15th. Seaport Res Ptn analyst R. Safran expects that the basic materials company will post earnings of $0.40 per share for the quarter. The consensus estimate for ATI’s current full-year earnings is $2.28 per share. Seaport Res Ptn also issued estimates for ATI’s Q2 2024 earnings at $0.52 EPS, Q3 2024 earnings at $0.61 EPS, Q4 2024 earnings at $0.70 EPS, FY2024 earnings at $2.23 EPS and Q4 2025 earnings at $0.89 EPS.

ATI (NYSE:ATI) last posted its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. ATI had a return on equity of 24.64% and a net margin of 8.81%. ATI’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 earnings per share.

A number of other research analysts also recently commented on ATI. TheStreet upgraded ATI from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. KeyCorp boosted their target price on ATI from $49.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday, February 21st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on ATI in a research note on Thursday, April 11th. They issued a “buy” rating and a $70.00 target price on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.67.

ATI Stock Down 0.9 %

NYSE ATI traded down $0.44 on Wednesday, reaching $50.73. The stock had a trading volume of 756,563 shares, compared to its average volume of 1,299,830. The business has a 50 day moving average price of $48.46 and a 200 day moving average price of $44.11. The company has a current ratio of 2.80, a quick ratio of 1.53 and a debt-to-equity ratio of 1.45. ATI has a 1 year low of $34.10 and a 1 year high of $52.98. The company has a market capitalization of $6.31 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 1.44 and a beta of 1.22.

Institutional Trading of ATI

Hedge funds have recently added to or reduced their stakes in the business. Clearstead Advisors LLC boosted its stake in ATI by 295.9% during the 3rd quarter. Clearstead Advisors LLC now owns 669 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 500 shares during the period. Belpointe Asset Management LLC boosted its stake in ATI by 65.3% during the 1st quarter. Belpointe Asset Management LLC now owns 843 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 333 shares during the period. Covestor Ltd boosted its stake in ATI by 73.1% during the 3rd quarter. Covestor Ltd now owns 1,044 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 441 shares during the period. GAMMA Investing LLC bought a new stake in ATI during the 4th quarter valued at approximately $58,000. Finally, West Tower Group LLC raised its holdings in ATI by 243.6% in the 4th quarter. West Tower Group LLC now owns 1,457 shares of the basic materials company’s stock valued at $66,000 after acquiring an additional 1,033 shares in the last quarter.

Insider Transactions at ATI

In other news, VP Timothy J. Harris sold 6,325 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $42.44, for a total transaction of $268,433.00. Following the completion of the sale, the vice president now owns 109,331 shares in the company, valued at approximately $4,640,007.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.05% of the stock is currently owned by corporate insiders.

ATI Company Profile

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.