ATI (NYSE:ATI) Given New $100.00 Price Target at Susquehanna

Key Points

• Susquehanna has lowered the price target for ATI from $105.00 to $100.00, while maintaining a "positive" rating, indicating a potential upside of 33.01%.
• ATI reported earnings of $0.74 per share for the last quarter, exceeding estimates and showing a year-over-year revenue increase of 4.1%.
• Institutional investors have increased their holdings in ATI, with some entities, like Bessemer Group, raising their positions by 139.9% in the first quarter.

ATI (NYSE:ATI - Get Free Report) had its price target decreased by stock analysts at Susquehanna from $105.00 to $100.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a "positive" rating on the basic materials company's stock. Susquehanna's price objective points to a potential upside of 33.01% from the company's previous close.

A number of other equities analysts have also recently issued reports on ATI. BTIG Research set a $105.00 target price on ATI and gave the stock a "buy" rating in a report on Wednesday, May 28th. Benchmark restated a "buy" rating and set a $81.00 price objective on shares of ATI in a research note on Monday, April 21st. Citigroup upgraded shares of ATI to a "positive" rating in a research note on Tuesday, May 20th. KeyCorp downgraded shares of ATI from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft set a $115.00 target price on shares of ATI and gave the company a "hold" rating in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, ATI presently has a consensus rating of "Moderate Buy" and an average target price of $86.57.

ATI Price Performance

ATI opened at $75.18 on Friday. The company has a fifty day simple moving average of $85.95 and a 200 day simple moving average of $67.18. The stock has a market cap of $10.61 billion, a P/E ratio of 27.27, a P/E/G ratio of 1.25 and a beta of 1.13. The company has a quick ratio of 1.30, a current ratio of 2.53 and a debt-to-equity ratio of 0.86. ATI has a 12 month low of $39.23 and a 12 month high of $96.20.

ATI (NYSE:ATI - Get Free Report) last released its earnings results on Thursday, July 31st. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.02. The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.15 billion. ATI had a return on equity of 21.37% and a net margin of 8.93%. The company's revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 EPS. On average, research analysts expect that ATI will post 2.89 EPS for the current year.

Insider Transactions at ATI

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $83.93, for a total value of $4,196,500.00. Following the completion of the sale, the chairman directly owned 356,538 shares in the company, valued at approximately $29,924,234.34. This trade represents a 12.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 195,359 shares of company stock valued at $15,103,486. Company insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. WPG Advisers LLC bought a new position in ATI in the 1st quarter valued at about $29,000. Golden State Wealth Management LLC raised its holdings in ATI by 104.1% in the 1st quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company's stock valued at $31,000 after acquiring an additional 304 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in ATI by 79.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 386 shares of the basic materials company's stock valued at $33,000 after acquiring an additional 171 shares during the period. Signaturefd LLC raised its holdings in ATI by 117.7% in the 2nd quarter. Signaturefd LLC now owns 381 shares of the basic materials company's stock valued at $33,000 after acquiring an additional 206 shares during the period. Finally, Bessemer Group Inc. raised its holdings in ATI by 139.9% in the 1st quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company's stock valued at $34,000 after acquiring an additional 386 shares during the period.

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.

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