ATI (NYSE:ATI) Stock Price Target Raised at Citigroup

ATI (NYSE:ATI) had its price target raised by Citigroup from $229.00 to $240.00 in a report issued on Friday,Benzinga reports. The firm currently has a buy rating on the basic materials company’s stock.

Other research analysts have also recently issued research reports about the stock. Susquehanna boosted their price target on shares of ATI from $215.00 to $265.00 and gave the stock a “positive” rating in a report on Friday, August 7th. BTIG Research increased their price objective on shares of ATI from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Friday. Wall Street Zen upgraded shares of ATI from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Wells Fargo & Company decreased their price objective on shares of ATI from $275.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, September 30th. Finally, Deutsche Bank reaffirmed a “buy” rating and set a $262.00 price objective on shares of ATI in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, ATI currently has a consensus rating of “Buy” and an average target price of $224.56.

ATI Stock Down 3.5%

Shares of ATI traded down $6.64 during midday trading on Friday, hitting $183.52. The company had a trading volume of 1,345,368 shares, compared to its average volume of 1,913,048. The company’s 50-day simple moving average is $184.93 and its 200-day simple moving average is $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. The firm has a market capitalization of $24.93 billion, a P/E ratio of 45.88, a P/E/G ratio of 1.04 and a beta of 1.09. ATI has a 1 year low of $93.11 and a 1 year high of $243.57.

ATI (NYSE:ATI) last announced its quarterly earnings data on Thursday, October 29th. The basic materials company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.09. ATI had a return on equity of 32.30% and a net margin of 11.08%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the company posted $0.85 earnings per share. The business’s revenue for the quarter was up 26.5% on a year-over-year basis. As a group, sell-side analysts expect that ATI will post 5.24 EPS for the current year.

Insider Transactions at ATI

In other news, Director David Morehouse sold 2,485 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $201.61, for a total transaction of $501,000.85. Following the sale, the director owned 35,826 shares of the company’s stock, valued at approximately $7,222,879.86. This trade represents a 6.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Timothy 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 sale, the vice president owned 88,187 shares of the company’s stock, valued at approximately $16,916,030.34. The trade was a 9.26% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 85,830 shares of company stock valued at $18,046,361. Corporate insiders own 0.98% of the company’s stock.

Institutional Trading of ATI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC acquired a new position in shares of ATI in the 2nd quarter valued at $30,000. Retirement Wealth Solutions LLC purchased a new position in shares of ATI in the 3rd quarter valued at $30,000. Signature Equity Partners LLC raised its stake in ATI by 208.5% during the 1st quarter. Signature Equity Partners LLC now owns 182 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 123 shares in the last quarter. Provenance Wealth Advisors LLC acquired a new stake in ATI during the 3rd quarter worth $37,000. Finally, V Square Quantitative Management LLC raised its stake in ATI by 71.9% during the 3rd quarter. V Square Quantitative Management LLC now owns 220 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 92 shares in the last quarter.

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.