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

ATI Inc. (NYSE:ATI - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $86.46 and last traded at $86.16, with a volume of 59625 shares. The stock had previously closed at $85.68.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ATI shares. Benchmark reissued a "buy" rating and set a $81.00 target price on shares of ATI in a research note on Monday, April 21st. Citigroup raised shares of ATI to a "positive" rating in a report 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 research note on Wednesday, May 28th. Finally, KeyCorp cut ATI from an "overweight" rating to a "sector weight" rating in a report on Tuesday, May 20th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $78.29.

ATI Price Performance

The company's 50-day moving average is $74.09 and its 200-day moving average is $61.58. The firm has a market capitalization of $12.20 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 1.22 and a beta of 1.13. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.53 and a quick ratio of 1.30.

ATI (NYSE:ATI - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. ATI had a net margin of 8.93% and a return on equity of 21.37%. 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 previous year, the business posted $0.48 EPS. The firm's revenue was up 9.7% compared to the same quarter last year. On average, research analysts expect that ATI Inc. will post 2.89 earnings per share for the current year.

Insider Buying and Selling at ATI

In other ATI 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 value of $4,196,500.00. Following the transaction, the chairman owned 356,538 shares of the company's stock, valued at approximately $29,924,234.34. This represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 195,359 shares of company stock valued at $15,103,486 in the last ninety days. Corporate insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On ATI

A number of institutional investors have recently modified their holdings of ATI. WPG Advisers LLC acquired a new stake in shares of ATI in the 1st quarter valued at $29,000. Golden State Wealth Management LLC raised its stake in shares of ATI by 104.1% in the 1st quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company's stock valued at $31,000 after acquiring an additional 304 shares in the last quarter. Bessemer Group Inc. lifted its holdings 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 purchasing an additional 386 shares during the last quarter. Olde Wealth Management LLC bought a new stake in ATI during the first quarter worth approximately $36,000. Finally, Headlands Technologies LLC acquired a new stake in shares of ATI in the first quarter worth $47,000.

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.