Allegheny Technologies Inc. (ATI) Shares Down 4%
Allegheny Technologies Inc. (NYSE:ATI)’s share price fell 4% during trading on Tuesday . The company traded as low as $17.76 and last traded at $17.76, with a volume of 1,224,933 shares traded. The stock had previously closed at $18.50.
A number of brokerages recently commented on ATI. Deutsche Bank AG upgraded shares of Allegheny Technologies from a “hold” rating to a “buy” rating and lifted their target price for the stock from $15.00 to $20.00 in a research report on Monday. Cowen and Company upgraded shares of Allegheny Technologies from an “underperform” rating to a “market perform” rating in a research report on Wednesday, July 27th. Berenberg Bank reiterated a “hold” rating and issued a $13.90 target price on shares of Allegheny Technologies in a research report on Wednesday, July 27th. Bank of America Corp. reiterated a “buy” rating on shares of Allegheny Technologies in a research report on Friday, June 17th. Finally, Zacks Investment Research upgraded shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, May 24th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $22.10.
The stock’s 50-day moving average is $16.72 and its 200 day moving average is $15.00. The company’s market cap is $1.92 billion.
Allegheny Technologies (NYSE:ATI) last issued its earnings results on Tuesday, July 26th. The company reported ($0.18) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.19. During the same quarter in the prior year, the company posted ($0.15) EPS. The company had revenue of $810.50 million for the quarter, compared to the consensus estimate of $792.11 million. Allegheny Technologies’s revenue was down 20.7% compared to the same quarter last year. On average, equities analysts forecast that Allegheny Technologies Inc. will post ($0.87) EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Thursday, August 18th will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, August 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.82%.
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.
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