Q1 2024 Earnings Forecast for ATI Inc. (NYSE:ATI) Issued By Seaport Res Ptn

ATI Inc. (NYSE:ATI) – Equities researchers at Seaport Res Ptn issued their Q1 2024 earnings per share (EPS) estimates for ATI in a research report issued to clients and investors on Monday, April 15th. Seaport Res Ptn analyst R. Safran forecasts that the basic materials company will post earnings per share of $0.40 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.

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

ATI Stock Down 0.9 %

Shares of ATI stock opened at $50.73 on Wednesday. The stock has a 50-day simple moving average of $48.67 and a 200-day simple moving average of $44.15. ATI has a 52-week low of $34.10 and a 52-week high of $52.98. The firm has a market cap of $6.31 billion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 1.44 and a beta of 1.22. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.80 and a quick ratio of 1.53.

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

Insider Buying and Selling at ATI

In other news, VP Timothy J. Harris sold 6,325 shares of the company’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 109,331 shares in the company, valued at $4,640,007.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.05% of the company’s stock.

Institutional Trading of ATI

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Register Financial Advisors LLC lifted its stake in shares of ATI by 1.5% in the first quarter. Register Financial Advisors LLC now owns 61,153 shares of the basic materials company’s stock valued at $3,129,000 after buying an additional 900 shares during the period. Hennessy Advisors Inc. raised its holdings in ATI by 44.0% in the 1st quarter. Hennessy Advisors Inc. now owns 111,200 shares of the basic materials company’s stock valued at $5,690,000 after acquiring an additional 34,000 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of ATI by 46.5% in the 1st quarter. GAMMA Investing LLC now owns 1,868 shares of the basic materials company’s stock worth $96,000 after acquiring an additional 593 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of ATI by 0.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 84,050 shares of the basic materials company’s stock worth $3,822,000 after purchasing an additional 216 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of ATI by 6.6% during the fourth quarter. Wellington Management Group LLP now owns 317,487 shares of the basic materials company’s stock valued at $14,436,000 after purchasing an additional 19,669 shares during the period.

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.