Allegheny Technologies Inc. (ATI) Sees Unusually-High Trading Volume
Shares of Allegheny Technologies Inc. (NYSE:ATI) saw unusually-high trading volume on Thursday . Approximately 1,599,994 shares changed hands during trading, a decline of 14% from the previous session’s volume of 1,850,987 shares.The stock last traded at $16.88 and had previously closed at $16.59.
ATI has been the subject of several recent analyst reports. Zacks Investment Research downgraded Allegheny Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, May 18th. Bank of America Corp. upgraded Allegheny Technologies from an “underperform” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Monday, May 23rd. Berenberg Bank reiterated a “hold” rating on shares of Allegheny Technologies in a research report on Wednesday, May 18th. Finally, Cowen and Company upgraded Allegheny Technologies from an “underperform” rating to a “market perform” rating in a research report on Wednesday, July 27th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $21.32.
The firm’s 50 day moving average price is $16.59 and its 200-day moving average price is $14.86. The firm’s market capitalization is $1.81 billion.
Allegheny Technologies (NYSE:ATI) last announced its quarterly earnings results on Tuesday, July 26th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.19. During the same period last year, the firm earned ($0.15) EPS. The business had revenue of $810.50 million for the quarter, compared to analyst estimates of $792.11 million. Allegheny Technologies’s quarterly revenue was down 20.7% compared to the same quarter last year. Equities analysts anticipate that Allegheny Technologies Inc. will post ($0.85) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Thursday, August 18th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Tuesday, August 16th.
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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