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DOW   27,452.66 (-0.48%)
QQQ   276.21 (-0.36%)
AAPL   114.01 (-0.83%)
MSFT   207.41 (-0.97%)
FB   262.52 (+2.22%)
GOOGL   1,465.84 (+0.49%)
AMZN   3,145.92 (-0.89%)
TSLA   417.86 (-0.79%)
NVDA   529.07 (+1.47%)
BABA   276.94 (+0.34%)
CGC   14.50 (+2.04%)
GE   6.12 (-1.29%)
MU   50.88 (+2.33%)
AMD   81.84 (+2.97%)
T   28.30 (-0.28%)
F   6.59 (-1.49%)
ACB   4.69 (-1.88%)
GILD   62.08 (-1.23%)
NFLX   493.92 (+0.67%)
DIS   125.13 (-0.68%)
BA   164.10 (-1.19%)
BAC   23.81 (-1.16%)
S&P 500   3,335.47 (-0.48%)
DOW   27,452.66 (-0.48%)
QQQ   276.21 (-0.36%)
AAPL   114.01 (-0.83%)
MSFT   207.41 (-0.97%)
FB   262.52 (+2.22%)
GOOGL   1,465.84 (+0.49%)
AMZN   3,145.92 (-0.89%)
TSLA   417.86 (-0.79%)
NVDA   529.07 (+1.47%)
BABA   276.94 (+0.34%)
CGC   14.50 (+2.04%)
GE   6.12 (-1.29%)
MU   50.88 (+2.33%)
AMD   81.84 (+2.97%)
T   28.30 (-0.28%)
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ACB   4.69 (-1.88%)
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DOW   27,452.66 (-0.48%)
QQQ   276.21 (-0.36%)
AAPL   114.01 (-0.83%)
MSFT   207.41 (-0.97%)
FB   262.52 (+2.22%)
GOOGL   1,465.84 (+0.49%)
AMZN   3,145.92 (-0.89%)
TSLA   417.86 (-0.79%)
NVDA   529.07 (+1.47%)
BABA   276.94 (+0.34%)
CGC   14.50 (+2.04%)
GE   6.12 (-1.29%)
MU   50.88 (+2.33%)
AMD   81.84 (+2.97%)
T   28.30 (-0.28%)
F   6.59 (-1.49%)
ACB   4.69 (-1.88%)
GILD   62.08 (-1.23%)
NFLX   493.92 (+0.67%)
DIS   125.13 (-0.68%)
BA   164.10 (-1.19%)
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Allegheny Technologies (NYSE:ATI) Raised to "Hold" at ValuEngine

Last updated on Wednesday, September 16, 2020 | 2020 MarketBeat

Allegheny Technologies (NYSE:ATI) was upgraded by analysts at ValuEngine from a "sell" rating to a "hold" rating in a note issued to investors on Wednesday, ValuEngine reports.

Other equities research analysts have also recently issued reports about the stock. Barclays boosted their price target on shares of Allegheny Technologies from $7.00 to $8.00 and gave the stock an "underweight" rating in a research report on Thursday, September 10th. Bank of America lowered shares of Allegheny Technologies from a "buy" rating to an "underperform" rating in a research note on Monday, June 8th. Cowen cut shares of Allegheny Technologies from an "outperform" rating to a "market perform" rating and set a $11.00 target price for the company. in a report on Thursday, August 13th. TheStreet cut Allegheny Technologies from a "c" rating to a "d" rating in a report on Tuesday, August 4th. Finally, Zacks Investment Research lowered Allegheny Technologies from a "hold" rating to a "sell" rating and set a $10.00 price objective for the company. in a research note on Tuesday, July 21st. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The company currently has an average rating of "Hold" and an average price target of $17.00.

Shares of NYSE ATI traded up $0.55 during mid-day trading on Wednesday, reaching $9.65. 3,242,321 shares of the company traded hands, compared to its average volume of 2,633,328. Allegheny Technologies has a fifty-two week low of $4.95 and a fifty-two week high of $24.17. The firm has a market cap of $1.22 billion, a PE ratio of -4.85 and a beta of 1.77. The stock has a fifty day simple moving average of $8.87 and a 200-day simple moving average of $9.31. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.58 and a quick ratio of 1.79.

Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings results on Tuesday, August 4th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.10) by $0.08. Allegheny Technologies had a positive return on equity of 5.61% and a negative net margin of 6.22%. The firm had revenue of $770.30 million during the quarter, compared to analyst estimates of $755.09 million. During the same period last year, the company posted $0.40 EPS. The firm's quarterly revenue was down 28.7% on a year-over-year basis. As a group, analysts predict that Allegheny Technologies will post -0.76 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in ATI. Mutual of America Capital Management LLC grew its holdings in shares of Allegheny Technologies by 3.7% during the 1st quarter. Mutual of America Capital Management LLC now owns 117,383 shares of the basic materials company's stock valued at $998,000 after acquiring an additional 4,240 shares in the last quarter. First Trust Advisors LP grew its stake in Allegheny Technologies by 38.0% in the second quarter. First Trust Advisors LP now owns 144,793 shares of the basic materials company's stock valued at $1,475,000 after purchasing an additional 39,834 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in Allegheny Technologies by 21.6% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 43,800 shares of the basic materials company's stock worth $372,000 after purchasing an additional 7,788 shares during the last quarter. Ensign Peak Advisors Inc raised its stake in shares of Allegheny Technologies by 4.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 106,706 shares of the basic materials company's stock worth $1,087,000 after purchasing an additional 4,100 shares in the last quarter. Finally, New Mexico Educational Retirement Board lifted its holdings in shares of Allegheny Technologies by 38.2% during the 1st quarter. New Mexico Educational Retirement Board now owns 30,000 shares of the basic materials company's stock valued at $255,000 after buying an additional 8,300 shares during the last quarter. Hedge funds and other institutional investors own 90.99% of the company's stock.

About Allegheny Technologies

Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates through two segments, High Performance Materials & Components, and Flat-Rolled Products. The High Performance Materials & Components segment produces high performance materials, including titanium and titanium-based alloys; nickel-and cobalt-based alloys and superalloys; zirconium and related alloys, such as hafnium and niobium; powder alloys; and other specialty materials in long product forms of ingots, billets, bars, rods, wires, and shapes and rectangles, as well as seamless tubes, plus precision forgings, castings, components, and machined parts.

Featured Article: Certificate of Deposit (CD) For Risk Adverse Investors?

To view ValuEngine's full report, visit ValuEngine's official website.

Analyst Recommendations for Allegheny Technologies (NYSE:ATI)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

7 Gun Stocks to Buy During the Coronavirus Pandemic

Socially conscious investors may want to stop reading. But the fact is that gun stocks were some of the best-performing stocks at the onset of the coronavirus pandemic. And they continue their positive momentum.

Some of that may be historical. Firearms sales tend to increase during an election year. But of course, this has not started out as a normal election year.

In March, the nation was gripped by pictures of long lines outside gun stores in several U.S. states. The website Ammo.com reported that bullet sales increased by 222% in the period from February 23 through March 15 as opposed to the first three weeks in February.

And according to the Federal Bureau of Investigation’s (FBI) National Instant Criminal Background Check System (NICS), there was a 73% year-over-year increase in background checks in February.

“The world has never seen anything like this and people want to make sure they're prepared for whatever lies ahead, whether that be food shortages, government shutdown, or worse," a spokesperson for Ammo.com said in an emailed statement. "When everything around you is uncertain, having a supply of ammunition can make our customers feel safer."

Given the likelihood of increased firearms sales, we’ve created this presentation that highlights seven gun stocks that you should consider for your portfolio.

View the "7 Gun Stocks to Buy During the Coronavirus Pandemic".

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