ATI (NYSE:ATI) Sets New 12-Month High - Here's What Happened

Key Points

• ATI Inc. shares reached a new 52-week high of $96.00, indicating strong market performance with a trading volume of 24,787 shares.
• Analysts have shown positive sentiment, with firms like Susquehanna and BTIG Research raising target prices to $105.00 and recommending "buy" ratings, while the overall consensus is a "Moderate Buy" with an average target of $87.29.
• The company reported impressive earnings, with $0.72 earnings per share surpassing estimates and revenue of $1.14 billion, marking a 9.7% increase year-over-year.

ATI Inc. (NYSE:ATI - Get Free Report)'s share price reached a new 52-week high on Monday . The company traded as high as $96.00 and last traded at $95.78, with a volume of 24787 shares traded. The stock had previously closed at $94.99.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Citigroup raised shares of ATI to a "positive" rating in a research report on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft set a $115.00 price objective on shares of ATI and gave the company a "hold" rating in a research report on Tuesday, July 8th. KeyCorp lowered shares of ATI from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, May 20th. BTIG Research set a $105.00 price objective on shares of ATI and gave the company a "buy" rating in a research report on Wednesday, May 28th. Finally, Susquehanna upped their price objective on shares of ATI from $73.00 to $105.00 and gave the company a "positive" rating in a research report on Monday, July 14th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $87.29.

ATI Price Performance

The company has a debt-to-equity ratio of 0.86, a current ratio of 2.53 and a quick ratio of 1.30. The stock has a market capitalization of $10.88 billion, a P/E ratio of 27.95, a PEG ratio of 1.25 and a beta of 1.13. The company's 50 day simple moving average is $85.91 and its two-hundred day simple moving average is $67.03.

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

Insider Transactions at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $68.18, for a total value of $3,409,000.00. Following the transaction, the chairman directly owned 506,538 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Insiders have sold 195,359 shares of company stock valued at $15,103,486 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ATI

Several hedge funds have recently bought and sold shares of ATI. WPG Advisers LLC acquired a new stake in ATI in the first quarter worth $29,000. Golden State Wealth Management LLC raised its holdings in shares of ATI by 104.1% during the first quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company's stock worth $31,000 after acquiring an additional 304 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in shares of ATI by 79.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 386 shares of the basic materials company's stock worth $33,000 after acquiring an additional 171 shares during the period. Signaturefd LLC increased its stake 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 buying an additional 206 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in shares of 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.