BTIG Research Issues Positive Forecast for ATI (NYSE:ATI) Stock Price

ATI (NYSE:ATI) had its target price boosted by equities researchers at BTIG Research from $250.00 to $260.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. BTIG Research‘s target price points to a potential upside of 36.57% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Deutsche Bank reiterated a “buy” rating and issued a $262.00 price objective on shares of ATI in a research report on Monday, August 10th. Citigroup began coverage on ATI in a research report on Thursday, November 5th. They set a “buy” rating and a $229.00 target price for the company. Weiss Ratings lowered ATI from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 29th. Wells Fargo & Company lowered their price target on ATI from $275.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, September 30th. Finally, Wall Street Zen upgraded ATI from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, ATI currently has a consensus rating of “Buy” and an average target price of $223.33.

ATI Stock Performance

ATI stock opened at $190.38 on Friday. ATI has a 1-year low of $93.11 and a 1-year high of $243.57. The company has a current ratio of 2.77, a quick ratio of 1.27 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $25.86 billion, a PE ratio of 47.59, a price-to-earnings-growth ratio of 1.09 and a beta of 1.09. The firm’s 50 day simple moving average is $185.35 and its 200 day simple moving average is $175.52.

ATI (NYSE:ATI) last announced its quarterly earnings results on Thursday, October 29th. The basic materials company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.37 by $0.09. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.32 billion. ATI had a net margin of 11.08% and a return on equity of 32.30%. The business’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same period last year, the firm earned $0.85 EPS. As a group, analysts expect that ATI will post 5.24 earnings per share for the current fiscal year.

Insider Transactions at ATI

In other news, Director David Morehouse sold 2,485 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $201.61, for a total transaction of $501,000.85. Following the transaction, the director directly owned 35,826 shares in the company, valued at approximately $7,222,879.86. This represents a 6.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kimberly Fields sold 24,845 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $231.19, for a total value of $5,743,915.55. Following the transaction, the chief executive officer owned 100,719 shares in the company, valued at $23,285,225.61. This trade represents a 19.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 85,830 shares of company stock worth $18,046,361. 0.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Signature Equity Partners LLC raised its stake in shares of ATI by 208.5% during the first quarter. Signature Equity Partners LLC now owns 182 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 123 shares in the last quarter. CoreCap Advisors LLC bought a new stake in shares of ATI in the 2nd quarter worth approximately $30,000. Retirement Wealth Solutions LLC purchased a new stake in shares of ATI in the 3rd quarter valued at $30,000. Provenance Wealth Advisors LLC purchased a new stake in shares of ATI in the 3rd quarter valued at $37,000. Finally, V Square Quantitative Management LLC boosted its stake in shares of ATI by 71.9% in the 3rd quarter. V Square Quantitative Management LLC now owns 220 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 92 shares in the last quarter.

About ATI

ATI Inc. produces specialty materials and components for aerospace and defense, energy, medical, and other industrial markets. Its materials include titanium and titanium alloys, nickel- and cobalt-based alloys, specialty stainless steels, and other engineered metals designed for demanding applications. The company makes products such as sheet, plate, strip, and bar, along with precision forgings, castings, and engineered components. ATI serves customers worldwide through manufacturing and distribution operations in North America and other regions.