ATI (NYSE:ATI) Hits New 52-Week High - Time to Buy?

ATI Inc. (NYSE:ATI - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $93.99 and last traded at $92.90, with a volume of 692995 shares changing hands. The stock had previously closed at $93.41.

Analyst Ratings Changes

ATI has been the topic of a number of research reports. Susquehanna raised their price objective on shares of ATI from $73.00 to $105.00 and gave the stock a "positive" rating in a report on Monday, July 14th. Benchmark reiterated a "buy" rating and set a $81.00 price target on shares of ATI in a research note on Monday, April 21st. BTIG Research set a $105.00 target price on ATI and gave the company a "buy" rating in a research report on Wednesday, May 28th. Citigroup raised shares of ATI to a "positive" rating in a report on Tuesday, May 20th. Finally, KeyCorp downgraded shares of ATI from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, May 20th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, ATI has a consensus rating of "Moderate Buy" and a consensus price target of $87.29.

ATI Stock Down 0.7%

The company has a quick ratio of 1.30, a current ratio of 2.53 and a debt-to-equity ratio of 0.86. The business has a 50-day simple moving average of $82.91 and a 200-day simple moving average of $65.05. The stock has a market cap of $13.09 billion, a P/E ratio of 33.62, a PEG ratio of 1.25 and a beta of 1.13.

ATI (NYSE:ATI - Get Free Report) last issued its earnings results on Thursday, May 1st. The basic materials company reported $0.72 EPS for the quarter, beating the consensus estimate 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 net margin of 8.93% and a return on equity of 21.37%. The business's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS. Analysts expect that ATI Inc. will post 2.89 EPS for the current year.

Insiders Place Their Bets

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $83.93, for a total transaction of $4,196,500.00. Following the completion of the sale, the chairman owned 356,538 shares in the company, valued at approximately $29,924,234.34. This represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold 195,359 shares of company stock valued at $15,103,486 over the last ninety days. Insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ATI. Signaturefd LLC lifted its stake in ATI by 117.7% in the second quarter. Signaturefd LLC now owns 381 shares of the basic materials company's stock worth $33,000 after purchasing an additional 206 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in ATI by 79.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 386 shares of the basic materials company's stock valued at $33,000 after buying an additional 171 shares during the last quarter. WPG Advisers LLC purchased a new position in ATI in the first quarter worth 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 worth $31,000 after acquiring an additional 304 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in ATI by 139.9% in the 1st quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company's stock worth $34,000 after buying an additional 386 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.

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