ATI (NYSE:ATI) Reaches New 1-Year High at $52.98

ATI Inc. (NYSE:ATI - Get Free Report)'s share price reached a new 52-week high on Monday . The stock traded as high as $52.98 and last traded at $52.62, with a volume of 42732 shares traded. The stock had previously closed at $51.64.

Analysts Set New Price Targets

ATI has been the subject of several recent analyst reports. TheStreet upgraded ATI from a "c+" rating to a "b-" rating in a research report on Friday, January 26th. KeyCorp lifted their target price on shares of ATI from $49.00 to $56.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 21st. Finally, Deutsche Bank Aktiengesellschaft began coverage on ATI in a report on Thursday. They issued a "buy" rating and a $70.00 price objective for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, ATI has an average rating of "Moderate Buy" and a consensus price target of $55.67.

ATI Stock Performance

The business has a fifty day moving average price of $47.97 and a 200-day moving average price of $43.97. The stock has a market capitalization of $6.36 billion, a P/E ratio of 20.71 and a beta of 1.22. The company has a quick ratio of 1.53, a current ratio of 2.80 and a debt-to-equity ratio of 1.45.

ATI (NYSE:ATI - Get Free Report) last posted its earnings results on Thursday, February 1st. The basic materials company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. ATI had a net margin of 8.81% and a return on equity of 24.64%. The firm's revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 EPS. On average, sell-side analysts expect that ATI Inc. will post 2.28 EPS for the current year.

Insider Buying and Selling at ATI

In other news, VP Timothy J. Harris sold 6,325 shares of the company's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $42.44, for a total value of $268,433.00. Following the completion of the sale, the vice president now directly owns 109,331 shares in the company, valued at approximately $4,640,007.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.05% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ATI

A number of hedge funds have recently modified their holdings of the company. Clearstead Advisors LLC increased its stake in ATI by 295.9% in the 3rd quarter. Clearstead Advisors LLC now owns 669 shares of the basic materials company's stock worth $28,000 after buying an additional 500 shares in the last quarter. Belpointe Asset Management LLC raised its stake in ATI by 65.3% during the 1st quarter. Belpointe Asset Management LLC now owns 843 shares of the basic materials company's stock valued at $33,000 after purchasing an additional 333 shares during the period. Covestor Ltd lifted its holdings in shares of ATI by 73.1% in the third quarter. Covestor Ltd now owns 1,044 shares of the basic materials company's stock worth $43,000 after buying an additional 441 shares in the last quarter. GAMMA Investing LLC purchased a new stake in ATI in the 4th quarter worth $58,000. Finally, West Tower Group LLC boosted its holdings in shares of ATI by 243.6% during the 4th quarter. West Tower Group LLC now owns 1,457 shares of the basic materials company's stock valued at $66,000 after purchasing an additional 1,033 shares during the last quarter.

ATI Company Profile

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.