ATI (NYSE:ATI) Rating Increased to Overweight at KeyCorp

ATI (NYSE:ATI - Get Free Report) was upgraded by research analysts at KeyCorp from a "sector weight" rating to an "overweight" rating in a note issued to investors on Wednesday, MarketBeat reports. The brokerage currently has a $55.00 price target on the basic materials company's stock. KeyCorp's target price suggests a potential upside of 2.37% from the company's previous close. KeyCorp also issued estimates for ATI's FY2025 earnings at $2.82 EPS.

Several other research firms also recently weighed in on ATI. Susquehanna upped their price objective on shares of ATI from $70.00 to $73.00 and gave the stock a "positive" rating in a report on Wednesday, February 5th. StockNews.com raised shares of ATI from a "sell" rating to a "hold" rating in a research note on Thursday, February 6th. Benchmark reaffirmed a "buy" rating and issued a $81.00 target price on shares of ATI in a research note on Monday, April 21st. Finally, Barclays boosted their price objective on shares of ATI from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $73.29.

ATI Stock Up 1.2 %

Shares of NYSE:ATI traded up $0.64 during midday trading on Wednesday, reaching $53.73. 782,745 shares of the company were exchanged, compared to its average volume of 1,692,671. The stock has a fifty day simple moving average of $51.52 and a two-hundred day simple moving average of $55.96. ATI has a fifty-two week low of $39.23 and a fifty-two week high of $68.92. The firm has a market cap of $7.58 billion, a PE ratio of 21.05, a P/E/G ratio of 0.85 and a beta of 0.80. The company has a quick ratio of 1.32, a current ratio of 2.44 and a debt-to-equity ratio of 0.88.

ATI (NYSE:ATI - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.19. ATI had a return on equity of 21.16% and a net margin of 8.43%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the company earned $0.64 earnings per share. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, sell-side analysts forecast that ATI will post 2.89 earnings per share for the current year.

Insider Activity

In other ATI news, SVP Tina Killough Busch sold 9,900 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $66.41, for a total value of $657,459.00. Following the sale, the senior vice president now directly owns 25,994 shares of the company's stock, valued at approximately $1,726,261.54. This represents a 27.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. CIBC Asset Management Inc raised its position in shares of ATI by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 3,915 shares of the basic materials company's stock worth $215,000 after purchasing an additional 192 shares during the last quarter. Keystone Financial Group raised its stake in shares of ATI by 5.3% during the fourth quarter. Keystone Financial Group now owns 3,950 shares of the basic materials company's stock valued at $217,000 after purchasing an additional 200 shares during the period. Pier 88 Investment Partners LLC boosted its position in ATI by 3.0% in the 4th quarter. Pier 88 Investment Partners LLC now owns 7,620 shares of the basic materials company's stock valued at $419,000 after buying an additional 220 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in ATI by 2.1% during the 4th quarter. Hantz Financial Services Inc. now owns 11,680 shares of the basic materials company's stock worth $643,000 after purchasing an additional 240 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in ATI by 20.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,729 shares of the basic materials company's stock worth $95,000 after buying an additional 288 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.