Allegheny Technologies Inc. (ATI) Trading Down 4%
Allegheny Technologies Inc. (NYSE:ATI) traded down 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 trading hands. The stock had previously closed at $18.50.
Several equities research analysts recently issued reports on the company. Deutsche Bank AG upgraded 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 upgraded Allegheny Technologies from an “underperform” rating to a “market perform” rating in a report on Wednesday, July 27th. Berenberg Bank reiterated a “hold” rating and issued a $13.90 price objective on shares of Allegheny Technologies in a report on Wednesday, July 27th. Bank of America Corp. reiterated a “buy” rating on shares of Allegheny Technologies in a report on Friday, June 17th. Finally, Zacks Investment Research upgraded Allegheny Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, May 24th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Allegheny Technologies presently has a consensus rating of “Buy” and a consensus target price of $22.10.
The stock’s market cap is $1.84 billion. The company’s 50 day moving average is $16.86 and its 200-day moving average is $15.07.
Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings results on Tuesday, July 26th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.19. The firm had revenue of $810.50 million for the quarter, compared to analysts’ expectations of $792.11 million. The company’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.15) earnings per share. On average, equities research analysts forecast that Allegheny Technologies Inc. will post ($0.87) earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Investors 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 annualized dividend and a yield of 1.88%.
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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