Allegheny Technologies Inc. (NYSE:ATI) shares rose 2.7% during mid-day trading on Thursday . The stock traded as high as $15.57 and last traded at $15.41, with a volume of 1,868,271 shares traded. The stock had previously closed at $15.01.

ATI has been the topic of several research reports. Cowen and Company cut Allegheny Technologies from a “market perform” rating to an “underperform” rating and set a $7.00 target price on the stock. in a research report on Monday, April 4th. Bank of America Corp. reissued a “buy” rating on shares of Allegheny Technologies in a research report on Friday, June 17th. Credit Suisse Group AG raised Allegheny Technologies from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $34.00 to $41.00 in a research report on Monday, March 28th. Zacks Investment Research cut Allegheny Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, March 29th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $13.00 target price (up from $10.00) on shares of Allegheny Technologies in a research report on Wednesday, March 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $21.32.

The firm’s market cap is $1.70 billion. The stock’s 50 day moving average is $13.37 and its 200 day moving average is $13.28.

Allegheny Technologies (NYSE:ATI) last announced its earnings results on Tuesday, April 26th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by $0.02. The company earned $758 million during the quarter, compared to the consensus estimate of $796.44 million. Allegheny Technologies’s quarterly revenue was down 32.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 earnings per share. On average, analysts forecast that Allegheny Technologies Inc. will post ($0.95) earnings per share for the current fiscal year.

Other hedge funds and institutional investors have recently made changes to their positions in the company. Royce & Associates LLC raised its position in shares of Allegheny Technologies by 4.3% in the fourth quarter. Royce & Associates LLC now owns 1,061,258 shares of the company’s stock worth $11,939,000 after buying an additional 44,112 shares in the last quarter. Private Harbour Investment Management & Counsel LLC raised its position in shares of Allegheny Technologies by 251.6% in the fourth quarter. Private Harbour Investment Management & Counsel LLC now owns 160,120 shares of the company’s stock worth $1,801,000 after buying an additional 114,580 shares in the last quarter. Quantitative Investment Management LLC raised its position in shares of Allegheny Technologies by 400.0% in the fourth quarter. Quantitative Investment Management LLC now owns 108,500 shares of the company’s stock worth $1,220,000 after buying an additional 86,800 shares in the last quarter. Boston Partners raised its position in shares of Allegheny Technologies by 65.4% in the fourth quarter. Boston Partners now owns 418,510 shares of the company’s stock worth $4,708,000 after buying an additional 165,521 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Allegheny Technologies by 0.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 232,176 shares of the company’s stock worth $2,613,000 after buying an additional 970 shares in the last quarter.

Allegheny Technologies Incorporated (ATI) is a specialty materials and components producer. The Company operates through two business segments: High Performance Materials & Components and Flat Rolled Products. ATI’s products include titanium and titanium alloys, nickel-based alloys and specialty steels, precision forgings, castings and machined components, zirconium and related alloys, precision and engineered stainless steel strip, and grain-oriented electrical steel.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.