ATI (NYSE:ATI) Stock Price Target Raised at BTIG Research

ATI (NYSE:ATI) had its price objective hoisted by BTIG Research from $250.00 to $260.00 in a research report released on Friday morning, MarketBeat reports. BTIG Research currently has a buy rating on the basic materials company’s stock.

Several other equities research analysts have also commented on the company. Weiss Ratings lowered ATI from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 29th. KeyCorp decreased their target price on ATI from $258.00 to $228.00 and set an “overweight” rating on the stock in a research report on Thursday, October 8th. Deutsche Bank reaffirmed a “buy” rating and issued a $262.00 price target on shares of ATI in a research note on Monday, August 10th. Susquehanna boosted their price target on ATI from $215.00 to $265.00 and gave the stock a “positive” rating in a research report on Friday, August 7th. Finally, Wall Street Zen upgraded ATI from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, ATI presently has an average rating of “Buy” and an average price target of $224.56.

ATI Price Performance

Shares of ATI stock traded down $6.64 on Friday, reaching $183.52. 1,345,368 shares of the company were exchanged, compared to its average volume of 1,913,048. The company has a market cap of $24.93 billion, a price-to-earnings ratio of 45.88, a P/E/G ratio of 1.04 and a beta of 1.09. The business has a 50-day moving average price of $184.93 and a 200 day moving average price of $175.82. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.27 and a current ratio of 2.77. ATI has a 1 year low of $93.11 and a 1 year high of $243.57.

ATI (NYSE:ATI) last issued its quarterly earnings results on Thursday, October 29th. The basic materials company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.09. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.32 billion. ATI had a net margin of 11.08% and a return on equity of 32.30%. ATI’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same period last year, the company posted $0.85 EPS. Equities research analysts forecast that ATI will post 5.24 earnings per share for the current fiscal year.

Insider Activity at ATI

In other ATI news, Director David J. Morehouse sold 2,485 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $201.61, for a total value of $501,000.85. Following the transaction, the director directly owned 35,826 shares of the company’s stock, valued at $7,222,879.86. This trade represents a 6.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Timothy J. Harris sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $191.82, for a total value of $1,726,380.00. Following the transaction, the vice president owned 88,187 shares in the company, valued at approximately $16,916,030.34. This represents a 9.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 85,830 shares of company stock valued at $18,046,361. Corporate insiders own 0.98% of the company’s stock.

Hedge Funds Weigh In On ATI

Institutional investors have recently added to or reduced their stakes in the stock. Precision Wealth Strategies LLC acquired a new position in shares of ATI in the 1st quarter worth approximately $1,009,000. Bank of Nova Scotia increased its holdings in ATI by 92.9% in the 1st quarter. Bank of Nova Scotia now owns 467,149 shares of the basic materials company’s stock valued at $67,951,000 after purchasing an additional 224,949 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in ATI in the 2nd quarter valued at approximately $129,773,000. Illinois Municipal Retirement Fund acquired a new stake in ATI in the 1st quarter valued at approximately $1,106,000. Finally, Inspire Investing LLC raised its position in ATI by 206.3% in the third quarter. Inspire Investing LLC now owns 21,085 shares of the basic materials company’s stock valued at $3,993,000 after purchasing an additional 14,202 shares during the period.

About ATI

ATI Inc. produces specialty materials and components for aerospace and defense, energy, medical, and other industrial markets. Its materials include titanium and titanium alloys, nickel- and cobalt-based alloys, specialty stainless steels, and other engineered metals designed for demanding applications. The company makes products such as sheet, plate, strip, and bar, along with precision forgings, castings, and engineered components. ATI serves customers worldwide through manufacturing and distribution operations in North America and other regions.