ATI (NYSE:ATI) Issues Earnings Results

ATI (NYSE:ATIGet Rating) released its earnings results on Thursday. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.17, Briefing.com reports. ATI had a net margin of 0.36% and a return on equity of 21.63%. The company had revenue of $959.50 million during the quarter, compared to the consensus estimate of $837.33 million. During the same quarter in the prior year, the firm earned ($0.12) EPS. The company’s revenue was up 55.7% compared to the same quarter last year.

ATI Stock Performance

NYSE:ATI traded up $1.62 during midday trading on Friday, reaching $29.02. The stock had a trading volume of 3,075,732 shares, compared to its average volume of 1,355,135. ATI has a 1-year low of $13.85 and a 1-year high of $30.74. The firm’s fifty day simple moving average is $24.12 and its 200-day simple moving average is $25.08. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.89 and a quick ratio of 1.25. The stock has a market capitalization of $3.60 billion, a P/E ratio of 725.68 and a beta of 1.31.

Insider Activity at ATI

In related news, CAO Karl D. Schwartz sold 2,000 shares of the firm’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $25.00, for a total value of $50,000.00. Following the transaction, the chief accounting officer now directly owns 64,833 shares in the company, valued at approximately $1,620,825. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other ATI news, Director James C. Diggs sold 12,500 shares of the firm’s stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $24.00, for a total value of $300,000.00. Following the sale, the director now directly owns 46,060 shares in the company, valued at approximately $1,105,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Karl D. Schwartz sold 2,000 shares of the firm’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $25.00, for a total transaction of $50,000.00. Following the completion of the sale, the chief accounting officer now owns 64,833 shares in the company, valued at $1,620,825. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by company insiders.

Institutional Trading of ATI

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Great West Life Assurance Co. Can grew its position in ATI by 1.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 110,936 shares of the basic materials company’s stock worth $3,056,000 after purchasing an additional 1,480 shares during the last quarter. Yousif Capital Management LLC boosted its position in shares of ATI by 2.0% during the 1st quarter. Yousif Capital Management LLC now owns 117,029 shares of the basic materials company’s stock valued at $3,141,000 after acquiring an additional 2,312 shares in the last quarter. Guggenheim Capital LLC boosted its position in shares of ATI by 17.4% during the 1st quarter. Guggenheim Capital LLC now owns 24,876 shares of the basic materials company’s stock valued at $668,000 after acquiring an additional 3,689 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of ATI by 185.5% during the 1st quarter. Captrust Financial Advisors now owns 5,962 shares of the basic materials company’s stock valued at $160,000 after acquiring an additional 3,874 shares in the last quarter. Finally, American National Insurance Co. acquired a new stake in shares of ATI during the 1st quarter valued at about $228,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ATI shares. Wolfe Research upgraded shares of ATI from a “market perform” rating to an “outperform” rating and set a $33.00 target price for the company in a research report on Friday. KeyCorp raised their price target on shares of ATI from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Friday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.14.

About ATI

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ATI Inc manufactures and sells specialty materials and components worldwide. The company operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.

See Also

Earnings History for ATI (NYSE:ATI)

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