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

ATI Inc. (NYSE:ATI - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $80.77 and last traded at $80.24, with a volume of 675875 shares changing hands. The stock had previously closed at $79.64.

Analysts Set New Price Targets

ATI has been the topic of a number of recent research reports. Benchmark reaffirmed a "buy" rating and issued a $81.00 target price on shares of ATI in a research note on Monday, April 21st. Wall Street Zen upgraded ATI from a "sell" rating to a "hold" rating in a report on Thursday, February 6th. BTIG Research set a $105.00 target price on ATI and gave the stock a "buy" rating in a report on Wednesday, May 28th. Barclays raised their price target on shares of ATI from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Finally, KeyCorp cut shares of ATI from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $78.29.

ATI Stock Performance

The firm has a market cap of $11.67 billion, a price-to-earnings ratio of 32.45, a PEG ratio of 0.85 and a beta of 1.13. The company has a quick ratio of 1.32, a current ratio of 2.44 and a debt-to-equity ratio of 0.88. The company has a 50 day moving average of $61.53 and a 200 day moving average of $58.57.

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, beating analysts' consensus estimates of $0.58 by $0.14. ATI had a return on equity of 21.16% and a net margin of 8.43%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the company posted $0.48 EPS. ATI's quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities research analysts expect that ATI Inc. will post 2.89 EPS for the current fiscal year.

Insider Buying and Selling

In other ATI news, Chairman Robert S. Wetherbee sold 45,359 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $75.31, for a total value of $3,415,986.29. Following the transaction, the chairman now owns 461,179 shares of the company's stock, valued at $34,731,390.49. This trade represents a 8.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of ATI

Several hedge funds have recently made changes to their positions in ATI. Charles Schwab Investment Management Inc. increased its position in ATI by 14.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,563,062 shares of the basic materials company's stock worth $86,031,000 after buying an additional 191,823 shares during the period. Blue Trust Inc. grew its position in shares of ATI by 137.7% during the fourth 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 during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of ATI in the 4th quarter worth about $618,000. Bleakley Financial Group LLC increased its holdings in shares of ATI by 33.6% in the 4th quarter. Bleakley Financial Group LLC now owns 4,780 shares of the basic materials company's stock worth $263,000 after acquiring an additional 1,203 shares during the period. Finally, D.A. Davidson & CO. lifted its position in ATI by 5.7% in the 4th quarter. D.A. Davidson & CO. now owns 9,767 shares of the basic materials company's stock valued at $538,000 after purchasing an additional 530 shares during 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.