ATI (NYSE:ATI) Reaches New 52-Week High - Here's What Happened

Key Points

• ATI shares reached a new 52-week high of $206.35, closing near $205.62 versus the prior close of $200.15. The company’s market capitalization is approximately $27.78 billion.
• Analyst sentiment remains positive: ATI has an average “Buy” rating, including two Strong Buy and eight Buy ratings, with an average price target of $187.62. Several firms recently raised their price targets or upgraded the stock.
• ATI CEO Kimberly A. Fields sold 31,757 shares worth about $6.1 million, while insiders have sold approximately $34.6 million in stock over the past 90 days. Insiders collectively own 0.98% of the company.

Shares of ATI Inc. (NYSE:ATI - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $206.35 and last traded at $205.62, with a volume of 104027 shares traded. The stock had previously closed at $200.15.

Analyst Ratings Changes

A number of research analysts have issued reports on ATI shares. Weiss Ratings upgraded shares of ATI from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $194.00 price target on shares of ATI in a research report on Friday, May 1st. BTIG Research upped their price objective on ATI from $165.00 to $180.00 and gave the company a "buy" rating in a report on Friday, May 1st. JPMorgan Chase & Co. lifted their price objective on shares of ATI from $150.00 to $175.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Finally, Zacks Research upgraded shares of ATI from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 25th. Two analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $187.62.

ATI Price Performance

The company has a market capitalization of $27.78 billion, a P/E ratio of 67.41, a price-to-earnings-growth ratio of 1.54 and a beta of 0.98. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.67 and a quick ratio of 1.17. The firm's 50-day moving average is $189.59 and its 200-day moving average is $162.77.

Insider Activity

In other news, CEO Kimberly A. Fields sold 31,757 shares of the company's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $190.99, for a total value of $6,065,269.43. Following the transaction, the chief executive officer directly owned 125,564 shares in the company, valued at approximately $23,981,468.36. This represents a 20.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 192,199 shares of company stock worth $34,601,100. Insiders own 0.98% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Signature Equity Partners LLC grew its holdings in shares of ATI by 208.5% in the 1st quarter. Signature Equity Partners LLC now owns 182 shares of the basic materials company's stock worth $26,000 after purchasing an additional 123 shares during the last quarter. CoreCap Advisors LLC acquired a new stake in ATI during the 2nd quarter worth approximately $30,000. Torren Management LLC bought a new stake in ATI during the 4th quarter worth approximately $52,000. Summit Securities Group LLC bought a new stake in ATI during the 1st quarter worth approximately $60,000. Finally, Hollencrest Capital Management increased its position in ATI by 283.1% in the 1st quarter. Hollencrest Capital Management now owns 452 shares of the basic materials company's stock valued at $66,000 after acquiring an additional 334 shares during the period.

ATI Company Profile

Allegheny Technologies Incorporated (ATI) is a global manufacturer of specialty materials and complex components, serving aerospace, defense, oil and gas, chemical processing, medical and other industrial end markets. The company operates through two main segments: High Performance Materials & Components, which produces titanium and nickel-based alloys, stainless and specialty steels, and precision forgings; and Flat-Rolled Products, which supplies stainless steel, nickel and specialty alloy sheet, strip and precision-rolled plate.

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