ATI (NYSE:ATI) Hits New 1-Year High - What's Next?

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

Analyst Ratings Changes

ATI has been the subject of several recent analyst reports. 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. Citigroup upgraded shares of ATI to a "positive" rating in a research report on Tuesday, May 20th. KeyCorp lowered ATI from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, May 20th. Finally, Benchmark restated a "buy" rating and set a $81.00 price target on shares of ATI in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, ATI currently has a consensus rating of "Moderate Buy" and an average target price of $78.29.

ATI Stock Up 1.4%

The firm's fifty day moving average is $64.07 and its 200 day moving average is $59.28. The stock has a market cap of $11.83 billion, a P/E ratio of 32.88, a P/E/G ratio of 0.85 and a beta of 1.14. The company has a current ratio of 2.44, a quick ratio of 1.32 and a debt-to-equity ratio of 0.88.

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

Insider Buying and Selling at ATI

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $68.18, for a total transaction of $3,409,000.00. Following the completion of the transaction, the chairman now owns 506,538 shares in the company, valued at approximately $34,535,760.84. This represents a 8.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 145,359 shares of company stock worth $10,906,986. Insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On ATI

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bleakley Financial Group LLC grew its position in ATI by 33.6% in the fourth quarter. Bleakley Financial Group LLC now owns 4,780 shares of the basic materials company's stock valued at $263,000 after acquiring an additional 1,203 shares during the last quarter. Savant Capital LLC boosted its position in shares of ATI by 30.8% during the 4th quarter. Savant Capital LLC now owns 5,770 shares of the basic materials company's stock worth $318,000 after purchasing an additional 1,358 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of ATI by 14.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 69,000 shares of the basic materials company's stock worth $3,798,000 after purchasing an additional 8,800 shares in the last quarter. Van ECK Associates Corp boosted its stake 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 valued at $3,460,000 after purchasing an additional 2,926 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of ATI by 137.7% in the 4th quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company's stock worth $144,000 after acquiring an additional 1,516 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.