ATI (NYSE:ATI) Reaches New 12-Month High - Should You Buy?

ATI Inc. (NYSE:ATI - Get Free Report) shares reached a new 52-week high during trading on Monday . The stock traded as high as $85.67 and last traded at $84.88, with a volume of 411203 shares. The stock had previously closed at $84.00.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ATI shares. KeyCorp downgraded ATI from an "overweight" rating to a "sector weight" rating in a report on Tuesday, May 20th. Benchmark reissued a "buy" rating and issued a $81.00 target price on shares of ATI in a research note on Monday, April 21st. 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, Citigroup raised ATI to a "positive" rating in a research note on Tuesday, May 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $78.29.

ATI Stock Up 0.2%

The company has a debt-to-equity ratio of 0.88, a current ratio of 2.44 and a quick ratio of 1.32. The company has a market capitalization of $11.86 billion, a P/E ratio of 32.96, a PEG ratio of 0.85 and a beta of 1.14. The company has a 50 day moving average of $65.72 and a 200-day moving average of $59.62.

ATI (NYSE:ATI - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.07 billion. ATI had a return on equity of 21.16% and a net margin of 8.43%. The business's revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 EPS. As a group, equities analysts anticipate that ATI Inc. will post 2.89 EPS for the current year.

Insider Buying and Selling at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 50,000 shares of ATI stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $68.18, for a total transaction of $3,409,000.00. Following the sale, the chairman now directly owns 506,538 shares of the company's stock, valued at approximately $34,535,760.84. The trade was a 8.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders have sold 145,359 shares of company stock valued at $10,906,986. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of ATI

Several large investors have recently bought and sold shares of the company. Capital International Investors boosted its position in ATI by 5.4% during the 4th quarter. Capital International Investors now owns 15,901,561 shares of the basic materials company's stock valued at $875,190,000 after acquiring an additional 817,182 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of ATI by 15.2% in the 4th quarter. Vanguard Group Inc. now owns 15,335,409 shares of the basic materials company's stock worth $844,061,000 after purchasing an additional 2,020,313 shares in the last quarter. Capital World Investors boosted its position in shares of ATI by 100.5% in the 4th quarter. Capital World Investors now owns 6,875,576 shares of the basic materials company's stock worth $378,432,000 after purchasing an additional 3,446,919 shares in the last quarter. Invesco Ltd. boosted its position in shares of ATI by 3.3% in the 1st quarter. Invesco Ltd. now owns 4,850,439 shares of the basic materials company's stock worth $252,368,000 after purchasing an additional 153,939 shares in the last quarter. Finally, Dendur Capital LP boosted its position in shares of ATI by 601.7% in the 4th quarter. Dendur Capital LP now owns 3,567,000 shares of the basic materials company's stock worth $196,328,000 after purchasing an additional 3,058,628 shares in the last quarter.

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.