ATI (NYSE:ATI) Sets New 12-Month High Following Analyst Upgrade

ATI Inc. (NYSE:ATI - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday after Susquehanna raised their price target on the stock from $73.00 to $105.00. Susquehanna currently has a positive rating on the stock. ATI traded as high as $91.35 and last traded at $91.15, with a volume of 371379 shares traded. The stock had previously closed at $89.31.

A number of other equities analysts also recently weighed in on ATI. Benchmark reaffirmed a "buy" rating and set a $81.00 target price on shares of ATI in a research note on Monday, April 21st. Citigroup raised ATI to a "positive" rating in a research report on Tuesday, May 20th. KeyCorp downgraded ATI from an "overweight" rating to a "sector weight" rating in a 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 note on Wednesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft set a $115.00 price target on ATI and gave the stock a "hold" rating in a research report on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, ATI presently has a consensus rating of "Moderate Buy" and an average target price of $87.29.

Insider Activity at ATI

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

Hedge Funds Weigh In On ATI

Hedge funds and other institutional investors have recently modified their holdings of the company. Capital World Investors increased its position in ATI by 100.5% during the fourth quarter. Capital World Investors now owns 6,875,576 shares of the basic materials company's stock valued at $378,432,000 after acquiring an additional 3,446,919 shares during the last quarter. Dendur Capital LP grew its stake in shares of ATI by 601.7% during the 4th quarter. Dendur Capital LP now owns 3,567,000 shares of the basic materials company's stock valued at $196,328,000 after purchasing an additional 3,058,628 shares during the period. Vanguard Group Inc. increased its position in shares of ATI by 15.2% during the 4th quarter. Vanguard Group Inc. now owns 15,335,409 shares of the basic materials company's stock valued at $844,061,000 after purchasing an additional 2,020,313 shares during the last quarter. Norges Bank bought a new position in shares of ATI in the 4th quarter worth approximately $85,047,000. Finally, Forest Avenue Capital Management LP purchased a new position in shares of ATI in the first quarter worth approximately $44,867,000.

ATI Stock Performance

The business's fifty day moving average is $80.75 and its 200-day moving average is $63.79. The company has a quick ratio of 1.30, a current ratio of 2.53 and a debt-to-equity ratio of 0.86. The company has a market cap of $12.88 billion, a PE ratio of 33.07, a P/E/G ratio of 1.19 and a beta of 1.13.

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

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.

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