Allegheny Technologies Incorporated (NYSE:ATI) – Research analysts at KeyCorp decreased their Q1 2019 earnings per share (EPS) estimates for Allegheny Technologies in a report issued on Tuesday, March 12th. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will post earnings of $0.25 per share for the quarter, down from their prior estimate of $0.27. KeyCorp also issued estimates for Allegheny Technologies’ FY2019 earnings at $1.79 EPS.

Allegheny Technologies (NYSE:ATI) last announced its earnings results on Tuesday, January 22nd. The basic materials company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.03). Allegheny Technologies had a net margin of 5.50% and a return on equity of 10.28%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $991.88 million. During the same period in the prior year, the business posted $0.27 EPS. Allegheny Technologies’s revenue for the quarter was up 14.1% on a year-over-year basis.

A number of other research firms have also weighed in on ATI. Berenberg Bank started coverage on Allegheny Technologies in a research report on Thursday, December 6th. They set a “buy” rating and a $35.00 price objective for the company. ValuEngine upgraded Allegheny Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, Macquarie assumed coverage on Allegheny Technologies in a report on Thursday, February 14th. They issued an “outperform” rating and a $27.84 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $33.17.

Shares of ATI opened at $25.20 on Friday. The company has a current ratio of 2.68, a quick ratio of 1.24 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $3.18 billion, a PE ratio of 16.69, a P/E/G ratio of 0.93 and a beta of 2.41. Allegheny Technologies has a 52 week low of $20.84 and a 52 week high of $30.18.

In other news, Director Barabara S. Jeremiah sold 7,500 shares of the stock in a transaction that occurred on Thursday, January 24th. The shares were sold at an average price of $25.61, for a total transaction of $192,075.00. Following the sale, the director now owns 33,833 shares in the company, valued at $866,463.13. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Richard J. Harshman sold 7,140 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $28.99, for a total transaction of $206,988.60. The disclosure for this sale can be found here. Insiders sold 45,628 shares of company stock valued at $1,301,542 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Large investors have recently bought and sold shares of the company. Marshall Wace LLP bought a new position in shares of Allegheny Technologies in the third quarter worth approximately $2,196,000. Legal & General Group Plc raised its position in shares of Allegheny Technologies by 1.0% during the 3rd quarter. Legal & General Group Plc now owns 172,828 shares of the basic materials company’s stock valued at $5,107,000 after purchasing an additional 1,737 shares during the period. MetLife Investment Advisors LLC raised its position in shares of Allegheny Technologies by 21.5% during the 3rd quarter. MetLife Investment Advisors LLC now owns 164,227 shares of the basic materials company’s stock valued at $4,853,000 after purchasing an additional 29,019 shares during the period. Mcclain Value Management LLC lifted its stake in shares of Allegheny Technologies by 1.2% during the 4th quarter. Mcclain Value Management LLC now owns 250,772 shares of the basic materials company’s stock valued at $5,459,000 after buying an additional 2,870 shares in the last quarter. Finally, LPL Financial LLC purchased a new position in shares of Allegheny Technologies during the 3rd quarter valued at $251,000.

About Allegheny Technologies

Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates through two segments, High Performance Materials & Components, and Flat-Rolled Products. The High Performance Materials & Components segment produces high performance materials, including titanium and titanium-based alloys; nickel-and cobalt-based alloys and superalloys; zirconium and related alloys, such as hafnium and niobium; powder alloys; and other specialty materials in long product forms of ingots, billets, bars, rods, wires, and shapes and rectangles, as well as 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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