ATI (NYSE:ATI) Stock Price Expected to Rise, BTIG Research Analyst Says

Key Points

• BTIG Research raised its ATI price target from $250 to $260 and maintained a Buy rating, implying 36.57% potential upside from the prior close.
• Analyst opinions are mixed but lean positive: MarketBeat reports an average Buy rating and a consensus price target of $223.33, while some firms recently lowered their targets or rating.
• ATI beat quarterly expectations, reporting EPS of $1.46 versus $1.37 expected and revenue of $1.42 billion, up 26.5% year over year.

ATI (NYSE:ATI - Get Free Report) had its price target increased by analysts at BTIG Research from $250.00 to $260.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a "buy" rating on the basic materials company's stock. BTIG Research's price target suggests a potential upside of 36.57% from the stock's previous close.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company cut their price target on shares of ATI from $275.00 to $240.00 and set an "overweight" rating on the stock in a report on Wednesday, September 30th. Weiss Ratings cut shares of ATI from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, October 29th. KeyCorp cut their target price on ATI from $258.00 to $228.00 and set an "overweight" rating on the stock in a research note on Thursday, October 8th. Wall Street Zen raised ATI from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Deutsche Bank reaffirmed a "buy" rating and set a $262.00 price target 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 issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $223.33.

ATI Price Performance

Shares of ATI opened at $190.38 on Friday. The business's fifty day moving average is $185.35 and its 200 day moving average is $175.52. ATI has a 12-month low of $93.11 and a 12-month high of $243.57. The company has a quick ratio of 1.27, a current ratio of 2.77 and a debt-to-equity ratio of 0.85. The stock has a market cap of $25.86 billion, a P/E ratio of 47.59, a P/E/G ratio of 1.09 and a beta of 1.09.

ATI (NYSE:ATI - Get Free Report) last released its quarterly earnings data 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. ATI had a net margin of 11.08% and a return on equity of 32.30%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the firm earned $0.85 earnings per share. The business's quarterly revenue was up 26.5% compared to the same quarter last year. Sell-side analysts anticipate that ATI will post 5.24 earnings per share for the current fiscal year.

Insider Activity at ATI

In other ATI news, VP Timothy Harris sold 9,000 shares of the company's stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $191.82, for a total transaction of $1,726,380.00. Following the sale, the vice president directly owned 88,187 shares of the company's stock, valued at $16,916,030.34. This represents a 9.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kimberly Fields sold 24,845 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $231.19, for a total transaction of $5,743,915.55. Following the transaction, the chief executive officer owned 100,719 shares of the company's stock, valued at $23,285,225.61. This represents a 19.79% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 85,830 shares of company stock worth $18,046,361. Company insiders own 0.98% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ATI. CoreCap Advisors LLC bought a new stake in ATI during the 2nd quarter valued at $30,000. Retirement Wealth Solutions LLC bought a new stake in shares of ATI during the 3rd quarter valued at $30,000. Signature Equity Partners LLC raised its stake in shares of ATI by 208.5% during the 1st quarter. Signature Equity Partners LLC now owns 182 shares of the basic materials company's stock valued at $26,000 after purchasing an additional 123 shares during the period. Provenance Wealth Advisors LLC purchased a new stake in ATI during the 3rd quarter worth about $37,000. Finally, V Square Quantitative Management LLC lifted its holdings 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 purchasing 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.