ATI (NYSE:ATI) Given New $70.00 Price Target at Barclays

ATI (NYSE:ATI) had its price target hoisted by research analysts at Barclays from $55.00 to $70.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. Barclays‘s price objective would suggest a potential upside of 19.11% from the company’s previous close.

Several other research analysts have also issued reports on the stock. KeyCorp increased their price target on shares of ATI from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. TheStreet upgraded ATI from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of ATI in a research note on Thursday, April 11th. They set a “buy” rating and a $70.00 price objective on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.17.

ATI Price Performance

Shares of NYSE ATI traded up $0.61 during trading on Monday, hitting $58.77. The company had a trading volume of 309,786 shares, compared to its average volume of 1,358,693. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.37 and a current ratio of 2.81. The company has a market cap of $7.31 billion, a P/E ratio of 23.65, a PEG ratio of 1.50 and a beta of 1.17. ATI has a 52 week low of $34.10 and a 52 week high of $61.58. The business’s 50-day moving average is $50.75 and its 200 day moving average is $45.34.

ATI (NYSE:ATI) last announced its earnings results on Tuesday, April 30th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. ATI had a net margin of 8.70% and a return on equity of 23.72%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the business posted $0.49 EPS. The business’s revenue was up .5% compared to the same quarter last year. Equities research analysts predict that ATI will post 2.4 earnings per share for the current fiscal year.

Insider Buying and Selling at ATI

In other ATI news, VP Timothy J. Harris sold 6,325 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $42.44, for a total value of $268,433.00. Following the completion of the sale, the vice president now directly owns 109,331 shares in the company, valued at $4,640,007.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.05% of the company’s stock.

Institutional Investors Weigh In On ATI

Several large investors have recently added to or reduced their stakes in the business. Palestra Capital Management LLC boosted its holdings in shares of ATI by 839.0% during the 3rd quarter. Palestra Capital Management LLC now owns 2,190,728 shares of the basic materials company’s stock valued at $90,148,000 after acquiring an additional 1,957,416 shares during the last quarter. Point72 Asset Management L.P. boosted its position in ATI by 1,393.2% in the fourth quarter. Point72 Asset Management L.P. now owns 1,539,536 shares of the basic materials company’s stock valued at $70,003,000 after buying an additional 1,436,436 shares during the last quarter. Norges Bank purchased a new stake in ATI in the 4th quarter worth approximately $55,855,000. Frontier Capital Management Co. LLC lifted its holdings in ATI by 19.5% in the 4th quarter. Frontier Capital Management Co. LLC now owns 3,645,644 shares of the basic materials company’s stock valued at $165,767,000 after purchasing an additional 594,644 shares in the last quarter. Finally, Hawk Ridge Capital Management LP acquired a new stake in shares of ATI during the 3rd quarter worth about $18,727,000.

ATI Company Profile

ATI Inc produces and sells specialty materials and complex components worldwide. It 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, metallic powder alloys, 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.