ATI Inc. (NYSE:ATI) Director Sells $598,899.00 in Stock

Key Points

• David J. Morehouse, a director at ATI Inc., sold 7,900 shares at an average price of $75.81, resulting in a total transaction of approximately $598,899, decreasing his position by 15%.
• ATI reported $0.74 earnings per share for the last quarter, exceeding estimates and showing a year-over-year revenue increase of 4.1%.
• Analysts have a consensus rating of "Moderate Buy" for ATI, with price targets ranging from $81.00 to $115.00, indicating optimism about the company’s future performance.

ATI Inc. (NYSE:ATI - Get Free Report) Director David J. Morehouse sold 7,900 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $75.81, for a total transaction of $598,899.00. Following the completion of the sale, the director owned 44,777 shares in the company, valued at $3,394,544.37. This represents a 15.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

ATI Price Performance

Shares of ATI stock traded down $0.70 during trading hours on Friday, reaching $73.04. The company's stock had a trading volume of 1,725,627 shares, compared to its average volume of 2,237,898. The firm has a 50 day moving average price of $85.51 and a 200-day moving average price of $67.97. ATI Inc. has a one year low of $39.23 and a one year high of $96.20. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.52 and a quick ratio of 1.20. The stock has a market cap of $10.07 billion, a P/E ratio of 25.36, a P/E/G ratio of 1.00 and a beta of 1.20.

ATI (NYSE:ATI - Get Free Report) last posted its earnings results on Thursday, July 31st. The basic materials company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.02. ATI had a net margin of 9.26% and a return on equity of 21.34%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm posted $0.60 EPS. The business's quarterly revenue was up 4.1% on a year-over-year basis. On average, analysts predict that ATI Inc. will post 2.89 EPS for the current year.

Institutional Trading of ATI

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its stake in shares of ATI by 10.1% during the 4th quarter. Geode Capital Management LLC now owns 2,150,204 shares of the basic materials company's stock worth $118,389,000 after purchasing an additional 197,270 shares during the period. Invesco Ltd. boosted its stake in shares of ATI by 4.5% during the 4th quarter. Invesco Ltd. now owns 4,696,500 shares of the basic materials company's stock worth $258,495,000 after purchasing an additional 203,742 shares during the period. Legal & General Group Plc boosted its stake in shares of ATI by 4.4% during the 4th quarter. Legal & General Group Plc now owns 401,083 shares of the basic materials company's stock worth $22,076,000 after purchasing an additional 16,830 shares during the period. Renaissance Technologies LLC boosted its stake in shares of ATI by 102.1% during the 4th quarter. Renaissance Technologies LLC now owns 178,192 shares of the basic materials company's stock worth $9,808,000 after purchasing an additional 90,000 shares during the period. Finally, Advisory Services Network LLC boosted its stake in shares of ATI by 2.3% during the 4th quarter. Advisory Services Network LLC now owns 23,559 shares of the basic materials company's stock worth $1,297,000 after purchasing an additional 533 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ATI. Citigroup upgraded shares of ATI to a "positive" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. lifted their target price on shares of ATI from $75.00 to $92.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. BTIG Research set a $120.00 target price on shares of ATI and gave the company a "buy" rating in a research note on Monday, August 4th. Barclays lifted their target price on shares of ATI from $75.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Finally, Susquehanna lowered their target price on shares of ATI from $105.00 to $100.00 and set a "positive" rating on the stock in a research note on Friday, August 1st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $93.29.

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.