ATI (NYSE:ATI) Reaches New 12-Month High – Here’s What Happened

Shares of ATI Inc. (NYSE:ATI) reached a new 52-week high during trading on Monday . The stock traded as high as $76.44 and last traded at $76.23, with a volume of 80383 shares changing hands. The stock had previously closed at $76.28.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ATI. StockNews.com upgraded shares of ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. BTIG Research set a $90.00 target price on shares of ATI and gave the stock a “buy” rating in a research note on Monday, May 5th. KeyCorp raised shares of ATI from a “sector weight” rating to an “overweight” rating and set a $55.00 price target for the company in a research report on Wednesday, April 23rd. Benchmark reiterated a “buy” rating and set a $81.00 price target on shares of ATI in a research note on Monday, April 21st. Finally, Barclays boosted their price target on shares of ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $76.14.

ATI Stock Performance

The company has a quick ratio of 1.32, a current ratio of 2.44 and a debt-to-equity ratio of 0.88. The company has a market cap of $10.76 billion, a PE ratio of 29.89, a P/E/G ratio of 0.85 and a beta of 1.01. The stock’s 50 day simple moving average is $54.70 and its two-hundred day simple moving average is $56.62.

ATI (NYSE:ATI) last issued its earnings results on Thursday, May 1st. The basic materials company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. ATI had a net margin of 8.43% and a return on equity of 21.16%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted $0.48 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, research analysts anticipate that ATI Inc. will post 2.89 earnings per share for the current year.

Insider Activity

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $68.18, for a total transaction of $3,409,000.00. Following the completion of the sale, the chairman now directly owns 506,538 shares of the company’s stock, valued at approximately $34,535,760.84. This trade represents a 8.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On ATI

A number of large investors have recently added to or reduced their stakes in ATI. Capital World Investors grew its holdings in ATI by 100.5% during the 4th quarter. Capital World Investors now owns 6,875,576 shares of the basic materials company’s stock valued at $378,432,000 after purchasing an additional 3,446,919 shares in the last quarter. Dendur Capital LP grew its holdings in ATI by 601.7% during the 4th quarter. Dendur Capital LP now owns 3,567,000 shares of the basic materials company’s stock valued at $196,328,000 after purchasing an additional 3,058,628 shares in the last quarter. Vanguard Group Inc. grew its holdings in ATI by 15.2% during the 4th quarter. Vanguard Group Inc. now owns 15,335,409 shares of the basic materials company’s stock valued at $844,061,000 after purchasing an additional 2,020,313 shares in the last quarter. Norges Bank acquired a new position in ATI during the 4th quarter worth $85,047,000. Finally, Forest Avenue Capital Management LP acquired a new position in ATI during the 1st quarter worth $44,867,000.

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.