ATI (NYSE:ATI) Price Target Raised to $75.00 at Barclays

ATI (NYSE:ATI) had its price target lifted by Barclays from $70.00 to $75.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the basic materials company’s stock. Barclays‘s price objective would suggest a potential upside of 19.56% from the stock’s previous close.

Several other equities research analysts also recently weighed in on ATI. Susquehanna boosted their target price on shares of ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a research report on Wednesday, February 5th. StockNews.com raised ATI from a “sell” rating to a “hold” rating in a report on Thursday. Finally, KeyCorp downgraded ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $74.86.

ATI Trading Down 1.2 %

NYSE:ATI opened at $62.73 on Monday. ATI has a one year low of $39.71 and a one year high of $68.92. The business’s 50-day simple moving average is $57.26 and its 200 day simple moving average is $60.23. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.44 and a current ratio of 2.44. The stock has a market cap of $8.95 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 1.69 and a beta of 1.10.

ATI (NYSE:ATI) last announced its earnings results on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.19. ATI had a return on equity of 21.16% and a net margin of 8.43%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the company posted $0.64 EPS. ATI’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts predict that ATI will post 2.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Tina Killough Busch sold 9,900 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $66.41, for a total transaction of $657,459.00. Following the completion of the transaction, the senior vice president now directly owns 25,994 shares in the company, valued at $1,726,261.54. This represents a 27.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction 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 completion of the sale, the chairman now directly 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 disclosure for this sale can be found here. Insiders have sold 37,498 shares of company stock valued at $2,288,141 over the last quarter. Insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On ATI

Institutional investors have recently modified their holdings of the company. ORG Wealth Partners LLC bought a new stake in ATI in the 4th quarter valued at about $25,000. Quarry LP raised its holdings in shares of ATI by 86.4% during the third quarter. Quarry LP now owns 889 shares of the basic materials company’s stock valued at $59,000 after buying an additional 412 shares during the last quarter. UMB Bank n.a. boosted its position in shares of ATI by 557.0% during the third quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock worth $62,000 after buying an additional 791 shares during the period. Mainstream Capital Management LLC acquired a new stake in ATI in the 4th quarter valued at approximately $94,000. Finally, EverSource Wealth Advisors LLC raised its stake in ATI by 20.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,729 shares of the basic materials company’s stock valued at $95,000 after acquiring an additional 288 shares in the last quarter.

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.