ATI (NYSE:ATI) Reaches New 52-Week High - Time to Buy?

ATI Inc. (NYSE:ATI - Get Free Report)'s stock price reached a new 52-week high on Monday . The company traded as high as $86.40 and last traded at $85.17, with a volume of 1828681 shares changing hands. The stock had previously closed at $84.97.

Wall Street Analyst Weigh In

ATI has been the topic of a number of recent analyst reports. Citigroup raised ATI to a "positive" rating in a report on Tuesday, May 20th. BTIG Research set a $105.00 price target on shares of ATI and gave the company a "buy" rating in a report on Wednesday, May 28th. Benchmark reiterated a "buy" rating and set a $81.00 target price on shares of ATI in a report on Monday, April 21st. Finally, KeyCorp cut shares of ATI from an "overweight" rating to a "sector weight" 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, the stock has an average rating of "Moderate Buy" and an average target price of $78.29.

ATI Trading Down 0.6%

The company has a fifty day moving average of $67.44 and a 200-day moving average of $59.95. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.53 and a quick ratio of 1.30. The firm has a market capitalization of $11.95 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 1.19 and a beta of 1.14.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. ATI had a return on equity of 21.37% and a net margin of 8.93%. The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter in the prior year, the business earned $0.48 earnings per share. The company's revenue was up 9.7% on a year-over-year basis. On average, sell-side analysts anticipate that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ATI news, Chairman Robert S. Wetherbee sold 45,359 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $75.31, for a total value of $3,415,986.29. Following the completion of the transaction, the chairman now owns 461,179 shares of the company's stock, valued at $34,731,390.49. This represents a 8.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders sold 195,359 shares of company stock valued at $15,103,486. Insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Savant Capital LLC grew its position in ATI by 30.8% in the fourth quarter. Savant Capital LLC now owns 5,770 shares of the basic materials company's stock valued at $318,000 after acquiring an additional 1,358 shares during the period. Van ECK Associates Corp grew its holdings in ATI by 4.9% during the 4th quarter. Van ECK Associates Corp now owns 62,868 shares of the basic materials company's stock worth $3,460,000 after acquiring an additional 2,926 shares during the period. Blue Trust Inc. increased its holdings in ATI by 137.7% in the fourth quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company's stock valued at $144,000 after purchasing an additional 1,516 shares during the last quarter. Rhumbline Advisers grew its holdings in ATI by 5.9% during the fourth quarter. Rhumbline Advisers now owns 304,291 shares of the basic materials company's stock valued at $16,748,000 after purchasing an additional 16,975 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of ATI by 17.8% in the 4th quarter. Principal Financial Group Inc. now owns 690,215 shares of the basic materials company's stock valued at $37,989,000 after buying an additional 104,267 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.