Equities analysts expect Allegheny Technologies Incorporated (NYSE:ATI) to announce sales of $853.09 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Allegheny Technologies’ earnings. The highest sales estimate is $865.00 million and the lowest is $838.50 million. Allegheny Technologies reported sales of $770.50 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 10.7%. The company is scheduled to issue its next earnings results on Tuesday, October 24th.

According to Zacks, analysts expect that Allegheny Technologies will report full year sales of $853.09 million for the current fiscal year, with estimates ranging from $3.45 billion to $3.52 billion. For the next fiscal year, analysts anticipate that the company will report sales of $3.72 billion per share, with estimates ranging from $3.63 billion to $3.76 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Allegheny Technologies.

Allegheny Technologies (NYSE:ATI) last released its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. Allegheny Technologies had a negative net margin of 14.89% and a positive return on equity of 0.08%. The company had revenue of $880.20 million during the quarter, compared to the consensus estimate of $874.95 million. During the same quarter in the prior year, the firm posted ($0.21) earnings per share. Allegheny Technologies’s revenue for the quarter was up 8.6% on a year-over-year basis.

Several research firms have recently commented on ATI. Bank of America Corporation raised shares of Allegheny Technologies from an “underperform” rating to a “buy” rating and lifted their price target for the company from $16.00 to $24.00 in a report on Monday, September 11th. Longbow Research reaffirmed a “buy” rating and issued a $24.00 price target on shares of Allegheny Technologies in a report on Wednesday, August 23rd. Zacks Investment Research raised shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a report on Monday, August 7th. BidaskClub raised shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, J P Morgan Chase & Co raised shares of Allegheny Technologies from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $14.50 to $19.00 in a report on Wednesday, July 26th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $20.65.

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Shares of Allegheny Technologies (NYSE:ATI) traded up 1.18% during midday trading on Wednesday, hitting $23.17. 1,952,349 shares of the stock were exchanged. The firm has a 50-day moving average price of $20.09 and a 200-day moving average price of $17.92. Allegheny Technologies has a 12-month low of $13.15 and a 12-month high of $24.00. The company’s market cap is $2.52 billion.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its position in Allegheny Technologies by 63.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 6,380 shares of the basic materials company’s stock valued at $115,000 after purchasing an additional 2,480 shares during the last quarter. Neuburgh Advisers LLC lifted its position in Allegheny Technologies by 1.1% in the 1st quarter. Neuburgh Advisers LLC now owns 6,528 shares of the basic materials company’s stock valued at $117,000 after purchasing an additional 68 shares during the last quarter. Financial Architects Inc lifted its position in Allegheny Technologies by 180.0% in the 2nd quarter. Financial Architects Inc now owns 7,000 shares of the basic materials company’s stock valued at $119,000 after purchasing an additional 4,500 shares during the last quarter. Creative Planning lifted its position in Allegheny Technologies by 2,619.9% in the 2nd quarter. Creative Planning now owns 7,534 shares of the basic materials company’s stock valued at $128,000 after purchasing an additional 7,257 shares during the last quarter. Finally, Riverhead Capital Management LLC lifted its position in Allegheny Technologies by 72.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 8,297 shares of the basic materials company’s stock valued at $141,000 after purchasing an additional 3,497 shares during the last quarter. 96.61% of the stock is owned by institutional investors and hedge funds.

About Allegheny Technologies

Allegheny Technologies Incorporated is a manufacturer of specialty materials and complex components. The Company operates through two business segments: High Performance Materials & Components (HPMC), and Flat Rolled Products (FRP). The HPMC segment produces, converts and distributes a range of materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, zirconium and related alloys, including hafnium and niobium, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, plus precision forgings, castings, components and machined parts.

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Earnings History and Estimates for Allegheny Technologies (NYSE:ATI)

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