ATI (NYSE:ATI) Price Target Raised to $73.00 at Susquehanna

ATI (NYSE:ATI) had its price target hoisted by Susquehanna from $70.00 to $73.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “positive” rating on the basic materials company’s stock. Susquehanna’s target price would suggest a potential upside of 11.94% from the company’s current price.

Several other equities analysts also recently weighed in on the stock. StockNews.com downgraded shares of ATI from a “hold” rating to a “sell” rating in a report on Wednesday, January 29th. KeyCorp downgraded shares of ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $74.14.

ATI Stock Up 2.3 %

ATI stock traded up $1.50 during trading hours on Wednesday, hitting $65.22. The stock had a trading volume of 739,389 shares, compared to its average volume of 1,456,199. The company has a quick ratio of 1.44, a current ratio of 2.94 and a debt-to-equity ratio of 0.97. ATI has a 12-month low of $38.42 and a 12-month high of $68.92. The stock has a market capitalization of $9.30 billion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 1.52 and a beta of 1.10. The stock’s 50-day moving average price is $57.03 and its 200-day moving average price is $60.16.

ATI (NYSE:ATI) last posted its quarterly earnings data on Tuesday, February 4th. The basic materials company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.19. ATI had a return on equity of 21.39% and a net margin of 8.85%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. ATI’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that ATI will post 2.28 EPS for the current fiscal year.

Insider Transactions at ATI

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $58.99, for a total value of $1,474,750.00. Following the sale, the chairman now owns 436,443 shares in the company, valued at $25,745,772.57. This represents a 5.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Tina Killough Busch sold 2,598 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total transaction of $155,931.96. Following the completion of the sale, the senior vice president now owns 21,553 shares in the company, valued at $1,293,611.06. The trade was a 10.76 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.

Institutional Investors Weigh In On ATI

Hedge funds have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC boosted its stake in shares of ATI by 3.3% in the third quarter. Sequoia Financial Advisors LLC now owns 5,383 shares of the basic materials company’s stock worth $360,000 after buying an additional 172 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of ATI by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 3,915 shares of the basic materials company’s stock valued at $215,000 after purchasing an additional 192 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in shares of ATI by 2.1% in the 4th quarter. Hantz Financial Services Inc. now owns 11,680 shares of the basic materials company’s stock valued at $643,000 after purchasing an additional 240 shares during the period. KBC Group NV boosted its holdings in ATI by 12.9% during the third quarter. KBC Group NV now owns 3,362 shares of the basic materials company’s stock worth $225,000 after buying an additional 385 shares in the last quarter. Finally, Souders Financial Advisors grew its position in ATI by 6.1% during the third quarter. Souders Financial Advisors now owns 7,125 shares of the basic materials company’s stock valued at $477,000 after buying an additional 411 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.