Allegheny Technologies Inc. (ATI) Trading Up 8.6%
Allegheny Technologies Inc. (NYSE:ATI)’s share price was up 8.6% during trading on Monday . The company traded as high as $18.30 and last traded at $18.09, with a volume of 2,636,747 shares traded. The stock had previously closed at $16.65.
A number of equities analysts have commented on ATI shares. Bank of America Corp. reaffirmed a “buy” rating on shares of Allegheny Technologies in a report on Friday, June 17th. Deutsche Bank AG raised shares of Allegheny Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $15.00 to $20.00 in a report on Monday. Cowen and Company raised shares of Allegheny Technologies from an “underperform” rating to a “market perform” rating in a report on Wednesday, July 27th. Zacks Investment Research raised shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, May 24th. Finally, Berenberg Bank reaffirmed a “hold” rating and issued a $13.90 price objective on shares of Allegheny Technologies in a report on Wednesday, July 27th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Allegheny Technologies has an average rating of “Buy” and a consensus price target of $22.10.
The stock’s market capitalization is $1.92 billion. The stock’s 50-day moving average is $16.81 and its 200 day moving average is $15.05.
Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings results on Tuesday, July 26th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.19. The business had revenue of $810.50 million for the quarter, compared to analyst estimates of $792.11 million. During the same quarter last year, the firm earned ($0.15) earnings per share. The firm’s quarterly revenue was down 20.7% compared to the same quarter last year. On average, analysts expect that Allegheny Technologies Inc. will post ($0.87) EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend 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.
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.