ATI (NYSE:ATI) Reaches New 12-Month High - Should You Buy?

Shares of ATI Inc. (NYSE:ATI - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $75.26 and last traded at $73.34, with a volume of 2197897 shares trading hands. The stock had previously closed at $71.46.

Analyst Ratings Changes

ATI has been the subject of a number of research analyst reports. BTIG Research set a $90.00 target price on ATI and gave the company a "buy" rating in a report on Monday, May 5th. KeyCorp raised shares of ATI from a "sector weight" rating to an "overweight" rating and set a $55.00 price objective for the company in a research note on Wednesday, April 23rd. Barclays lifted their price objective on shares of ATI from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Benchmark reiterated a "buy" rating and set a $81.00 target price on shares of ATI in a report on Monday, April 21st. Finally, Susquehanna boosted their price target on shares of ATI from $70.00 to $73.00 and gave the stock a "positive" rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $76.14.

ATI Stock Performance

The stock's 50-day simple moving average is $53.02 and its 200 day simple moving average is $56.11. The company has a market capitalization of $10.35 billion, a PE ratio of 28.76, a P/E/G ratio of 0.85 and a beta of 1.01. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.32 and a current ratio of 2.44.

ATI (NYSE:ATI - Get Free Report) last posted 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. ATI had a return on equity of 21.16% and a net margin of 8.43%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the company posted $0.48 earnings per share. ATI's revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, research analysts expect that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Insider Transactions at ATI

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of the stock in a transaction 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 now directly owns 506,538 shares of the company's stock, valued at $34,535,760.84. This trade represents a 8.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On ATI

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Golden State Wealth Management LLC increased its position 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 purchasing an additional 304 shares in the last quarter. Bessemer Group Inc. increased its position in ATI by 139.9% during the first 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 period. Olde Wealth Management LLC purchased a new stake in ATI in the first quarter valued at approximately $36,000. Headlands Technologies LLC purchased a new stake in ATI in the first quarter valued at approximately $47,000. Finally, Fifth Third Bancorp boosted its holdings in shares of ATI by 115.7% in the first quarter. Fifth Third Bancorp now owns 1,124 shares of the basic materials company's stock valued at $58,000 after acquiring an additional 603 shares during the period.

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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