Shares of ATI Inc. (NYSE:ATI - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $88.43 and last traded at $87.71, with a volume of 352329 shares traded. The stock had previously closed at $86.85.
Wall Street Analyst Weigh In
ATI has been the topic of several recent analyst reports. KeyCorp lowered ATI from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, May 20th. BTIG Research set a $105.00 target price on shares of ATI and gave the stock a "buy" rating in a report on Wednesday, May 28th. Benchmark reissued a "buy" rating and set a $81.00 price target on shares of ATI in a report on Monday, April 21st. Finally, Citigroup raised shares of ATI to a "positive" rating in a research note on Tuesday, May 20th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, ATI has an average rating of "Moderate Buy" and an average price target of $78.29.
Get Our Latest Research Report on ATI
ATI Price Performance
The business has a 50 day moving average price of $77.76 and a 200-day moving average price of $62.65. The company has a market capitalization of $12.31 billion, a price-to-earnings ratio of 31.62, a P/E/G ratio of 1.22 and a beta of 1.13. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.30 and a current ratio of 2.53.
ATI (NYSE:ATI - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.07 billion. ATI had a net margin of 8.93% and a return on equity of 21.37%. The firm's quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 EPS. Research analysts predict that ATI Inc. will post 2.89 EPS for the current fiscal year.
Insiders Place Their Bets
In related 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 completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 195,359 shares of company stock worth $15,103,486 in the last three months. 1.10% of the stock is owned by company insiders.
Hedge Funds Weigh In On ATI
Several hedge funds have recently made changes to their positions in ATI. WPG Advisers LLC bought a new stake in ATI during the first quarter valued at $29,000. Golden State Wealth Management LLC grew its holdings in shares of ATI by 104.1% during 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 period. Bessemer Group Inc. increased its position in ATI by 139.9% during the 1st quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company's stock valued at $34,000 after buying an additional 386 shares in the last quarter. Olde Wealth Management LLC bought a new position in ATI during the 1st quarter valued at about $36,000. Finally, Headlands Technologies LLC bought a new stake in ATI during the first quarter valued at approximately $47,000.
About ATI
(
Get Free Report)
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.
Further Reading
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