ATI (NYSE:ATI) Hits New 12-Month High at $52.00

ATI Inc. (NYSE:ATI)’s share price reached a new 52-week high on Monday . The stock traded as high as $52.00 and last traded at $52.00, with a volume of 1406 shares trading hands. The stock had previously closed at $51.73.

Wall Street Analyst Weigh In

ATI has been the topic of a number of research reports. KeyCorp increased their price objective on ATI from $49.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. TheStreet raised shares of ATI from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.80.

ATI Stock Down 0.1 %

The stock has a market cap of $6.44 billion, a PE ratio of 20.62 and a beta of 1.22. The business has a 50 day moving average price of $47.26 and a 200 day moving average price of $43.77. 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) last announced its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. ATI had a return on equity of 24.64% and a net margin of 8.81%. ATI’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share. Equities research analysts expect that ATI Inc. will post 2.35 EPS for the current fiscal year.

Insider Buying and Selling

In other ATI news, VP Timothy J. Harris sold 6,325 shares of ATI stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.44, for a total value of $268,433.00. Following the completion of the transaction, the vice president now owns 109,331 shares of the company’s stock, valued at $4,640,007.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.05% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ATI

A number of hedge funds have recently bought and sold shares of the business. Clearstead Advisors LLC raised its stake in shares of ATI by 295.9% during 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 during the period. Belpointe Asset Management LLC raised its position in ATI by 65.3% during the first quarter. Belpointe Asset Management LLC now owns 843 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 333 shares during the period. Covestor Ltd lifted its holdings in ATI by 73.1% during the third quarter. Covestor Ltd now owns 1,044 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 441 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of ATI in the fourth quarter valued at about $58,000. Finally, West Tower Group LLC increased its stake in shares of ATI by 243.6% during the fourth quarter. West Tower Group LLC now owns 1,457 shares of the basic materials company’s stock worth $66,000 after purchasing an additional 1,033 shares in 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.