Allegheny Technologies (NYSE:ATI) Stock Rating Upgraded by TheStreet

Allegheny Technologies (NYSE:ATI) was upgraded by TheStreet from a “c+” rating to a “b” rating in a report released on Friday, TheStreetRatingsTable reports.

A number of other brokerages have also recently issued reports on ATI. Buckingham Research dropped their price target on shares of Allegheny Technologies from $27.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 25th. Cowen reiterated a “buy” rating and issued a $32.00 price target on shares of Allegheny Technologies in a research note on Monday, August 12th. ValuEngine upgraded shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Longbow Research cut shares of Allegheny Technologies from a “neutral” rating to an “underperform” rating and set a $18.00 price target on the stock. in a research note on Tuesday, October 15th. Finally, Barclays reiterated a “buy” rating and issued a $31.00 price target on shares of Allegheny Technologies in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Allegheny Technologies has a consensus rating of “Hold” and a consensus price target of $27.25.

Allegheny Technologies stock traded down $0.53 during mid-day trading on Friday, reaching $23.05. The stock had a trading volume of 34,891 shares, compared to its average volume of 1,639,376. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 1.32 and a beta of 2.29. The company has a 50-day moving average price of $21.22 and a two-hundred day moving average price of $21.95. Allegheny Technologies has a one year low of $17.03 and a one year high of $29.50. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.17 and a quick ratio of 1.64.

Allegheny Technologies (NYSE:ATI) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.45. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Allegheny Technologies had a net margin of 5.85% and a return on equity of 7.38%. Allegheny Technologies’s revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 EPS. On average, equities research analysts anticipate that Allegheny Technologies will post 1.19 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of ATI. Iridian Asset Management LLC CT raised its position in Allegheny Technologies by 111.2% in the 2nd quarter. Iridian Asset Management LLC CT now owns 3,603,621 shares of the basic materials company’s stock worth $90,811,000 after buying an additional 1,897,390 shares during the last quarter. Invesco Ltd. raised its position in Allegheny Technologies by 46.5% in the 2nd quarter. Invesco Ltd. now owns 3,504,894 shares of the basic materials company’s stock worth $88,323,000 after buying an additional 1,111,943 shares during the last quarter. Northern Trust Corp raised its position in Allegheny Technologies by 34.4% in the 2nd quarter. Northern Trust Corp now owns 3,031,048 shares of the basic materials company’s stock worth $76,382,000 after buying an additional 775,079 shares during the last quarter. River Road Asset Management LLC purchased a new position in Allegheny Technologies in the 3rd quarter worth about $10,685,000. Finally, Balyasny Asset Management LLC raised its position in Allegheny Technologies by 1,820.0% in the 2nd quarter. Balyasny Asset Management LLC now owns 460,095 shares of the basic materials company’s stock worth $11,594,000 after buying an additional 436,132 shares during the last quarter.

Allegheny Technologies Company Profile

Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates through two segments, High Performance Materials & Components, and Flat-Rolled Products. The High Performance Materials & Components segment produces high performance materials, including titanium and titanium-based alloys; nickel-and cobalt-based alloys and superalloys; zirconium and related alloys, such as hafnium and niobium; powder alloys; and other specialty materials in long product forms of ingots, billets, bars, rods, wires, and shapes and rectangles, as well as seamless tubes, plus precision forgings, castings, components, and machined parts.

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Analyst Recommendations for Allegheny Technologies (NYSE:ATI)

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