ATI Inc. (NYSE:ATI) Short Interest Up 46.7% in May

ATI Inc. (NYSE:ATI - Get Free Report) saw a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 3,550,000 shares, a growth of 46.7% from the April 30th total of 2,420,000 shares. Approximately 2.5% of the company's stock are short sold. Based on an average daily volume of 2,420,000 shares, the short-interest ratio is currently 1.5 days.

ATI Stock Performance

Shares of NYSE ATI traded down $0.23 during trading hours on Thursday, reaching $82.75. The stock had a trading volume of 1,710,044 shares, compared to its average volume of 1,779,388. The business's fifty day moving average is $62.15 and its two-hundred day moving average is $58.75. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.44 and a quick ratio of 1.32. The company has a market cap of $11.67 billion, a price-to-earnings ratio of 32.45, a PEG ratio of 0.85 and a beta of 1.13. ATI has a twelve month low of $39.23 and a twelve month high of $85.23.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ATI shares. Benchmark reiterated a "buy" rating and issued a $81.00 target price on shares of ATI in a report on Monday, April 21st. Barclays boosted their price target on ATI from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Citigroup raised ATI to a "positive" rating in a research note on Tuesday, May 20th. Wall Street Zen raised ATI from a "sell" rating to a "hold" rating in a research note on Thursday, February 6th. Finally, Susquehanna boosted their price target on ATI from $70.00 to $73.00 and gave the company a "positive" rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $78.29.

Insider Activity

In other news, Chairman Robert S. Wetherbee sold 50,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $68.18, for a total value of $3,409,000.00. Following the transaction, the chairman now owns 506,538 shares in the company, valued at $34,535,760.84. This represents a 8.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Evergreen Capital Management LLC raised its holdings in shares of ATI by 2.3% in the first quarter. Evergreen Capital Management LLC now owns 7,931 shares of the basic materials company's stock valued at $413,000 after buying an additional 176 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of ATI by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,915 shares of the basic materials company's stock valued at $215,000 after buying an additional 192 shares during the last quarter. Keystone Financial Group raised its holdings in shares of ATI by 5.3% in the fourth quarter. Keystone Financial Group now owns 3,950 shares of the basic materials company's stock valued at $217,000 after buying an additional 200 shares during the last quarter. Pier 88 Investment Partners LLC raised its holdings in shares of ATI by 3.0% in the fourth quarter. Pier 88 Investment Partners LLC now owns 7,620 shares of the basic materials company's stock valued at $419,000 after buying an additional 220 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in shares of ATI by 2.1% in the fourth quarter. Hantz Financial Services Inc. now owns 11,680 shares of the basic materials company's stock valued at $643,000 after buying an additional 240 shares during the last quarter.

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.