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

ATI Inc. (NYSE:ATI - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $88.43 and last traded at $87.71, with a volume of 352329 shares. The stock had previously closed at $86.85.

Analysts Set New Price Targets

Several research analysts have recently commented on ATI shares. KeyCorp lowered ATI from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, May 20th. BTIG Research set a $105.00 target price on ATI and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Benchmark reissued a "buy" rating and issued a $81.00 price target on shares of ATI in a report on Monday, April 21st. Finally, Citigroup upgraded ATI to a "positive" rating in a research report on Tuesday, May 20th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $78.29.

ATI Stock Up 0.7%

The stock has a 50-day moving average of $78.43 and a 200-day moving average of $62.88. The company has a current ratio of 2.53, a quick ratio of 1.30 and a debt-to-equity ratio of 0.86. The firm has a market cap of $12.34 billion, a price-to-earnings ratio of 31.69, a price-to-earnings-growth ratio of 1.22 and a beta of 1.13.

ATI (NYSE:ATI - Get Free Report) last announced its earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.07 billion. ATI had a return on equity of 21.37% and a net margin of 8.93%. The firm's revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 EPS. As a group, sell-side analysts forecast that ATI Inc. will post 2.89 EPS for the current fiscal year.

Insider Activity at ATI

In other news, Chairman Robert S. Wetherbee sold 50,000 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $83.93, for a total value of $4,196,500.00. Following the sale, the chairman owned 356,538 shares of the company's stock, valued at approximately $29,924,234.34. The trade was a 12.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 195,359 shares of company stock valued at $15,103,486. 1.10% of the stock is currently owned by insiders.

Institutional Trading of ATI

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Evergreen Capital Management LLC raised its stake in shares of ATI by 2.3% in the 1st quarter. Evergreen Capital Management LLC now owns 7,931 shares of the basic materials company's stock worth $413,000 after buying an additional 176 shares in the last quarter. Keystone Financial Group raised its position in shares of ATI by 5.3% during the fourth quarter. Keystone Financial Group now owns 3,950 shares of the basic materials company's stock worth $217,000 after purchasing an additional 200 shares during the period. Pier 88 Investment Partners LLC raised its position in shares of ATI by 3.0% during the fourth quarter. Pier 88 Investment Partners LLC now owns 7,620 shares of the basic materials company's stock worth $419,000 after purchasing an additional 220 shares during the period. Maven Securities LTD raised its position in shares of ATI by 4.4% during the first quarter. Maven Securities LTD now owns 5,848 shares of the basic materials company's stock worth $304,000 after purchasing an additional 248 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in shares of ATI by 1.6% during the first quarter. Nisa Investment Advisors LLC now owns 17,261 shares of the basic materials company's stock worth $898,000 after purchasing an additional 265 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.