Brokerages Set ATI Inc. (NYSE:ATI) Target Price at $76.14

Shares of ATI Inc. (NYSE:ATI - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eight analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $76.14.

A number of research analysts have issued reports on the company. KeyCorp raised ATI from a "sector weight" rating to an "overweight" rating and set a $55.00 price target for the company in a report on Wednesday, April 23rd. StockNews.com upgraded shares of ATI from a "sell" rating to a "hold" rating in a research report on Thursday, February 6th. Barclays increased their target price on shares of ATI from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. BTIG Research set a $90.00 price target on ATI and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Benchmark reiterated a "buy" rating and set a $81.00 price target on shares of ATI in a research report on Monday, April 21st.

Insider Buying and Selling

In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of ATI stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $68.18, for a total transaction of $3,409,000.00. Following the completion of the sale, the chairman now directly owns 506,538 shares in the company, valued at $34,535,760.84. This trade represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of ATI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATI. United Services Automobile Association acquired a new position in ATI during the 1st quarter worth about $460,000. Goldman Sachs Group Inc. lifted its position in shares of ATI by 49.4% during the first quarter. Goldman Sachs Group Inc. now owns 633,948 shares of the basic materials company's stock worth $32,984,000 after purchasing an additional 209,480 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of ATI in the first quarter valued at approximately $324,000. Teza Capital Management LLC acquired a new position in shares of ATI in the first quarter valued at approximately $420,000. Finally, Petrus Trust Company LTA acquired a new position in shares of ATI in the first quarter valued at approximately $278,000.

ATI Stock Up 1.7%

ATI stock traded up $1.25 on Wednesday, hitting $76.27. 1,431,191 shares of the company's stock were exchanged, compared to its average volume of 1,742,956. ATI has a 12-month low of $39.23 and a 12-month high of $76.32. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.32 and a current ratio of 2.44. The stock has a market cap of $10.76 billion, a P/E ratio of 29.91, a price-to-earnings-growth ratio of 0.85 and a beta of 1.01. The firm has a 50 day moving average price of $54.70 and a two-hundred day moving average price of $56.58.

ATI (NYSE:ATI - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. ATI had a net margin of 8.43% and a return on equity of 21.16%. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter last year, the company posted $0.48 earnings per share. The business's quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities research analysts expect that ATI will post 2.89 EPS for the current fiscal year.

About ATI

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.