ATI (NYSE:ATI) Sets New 12-Month High on Earnings Beat

ATI Inc. (NYSE:ATI) reached a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $59.82 and last traded at $59.20, with a volume of 696119 shares traded. The stock had previously closed at $51.90.

The basic materials company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.07. ATI had a return on equity of 23.72% and a net margin of 8.70%. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the firm earned $0.49 earnings per share. ATI’s quarterly revenue was up .5% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ATI. TheStreet upgraded ATI from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Deutsche Bank Aktiengesellschaft started coverage on shares of ATI in a report on Thursday, April 11th. They set a “buy” rating and a $70.00 target price on the stock. Finally, KeyCorp increased their price target on shares of ATI from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

Insiders Place Their Bets

In other news, VP Timothy J. Harris sold 6,325 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $42.44, for a total transaction of $268,433.00. Following the completion of the transaction, the vice president now directly owns 109,331 shares in the company, valued at $4,640,007.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.71% of the company’s stock.

Institutional Trading of ATI

Several institutional investors have recently bought and sold shares of ATI. Raymond James Financial Services Advisors Inc. purchased a new position in ATI in the fourth quarter worth about $1,698,000. Louisiana State Employees Retirement System bought a new position in ATI in the 4th quarter valued at approximately $2,901,000. Ballentine Partners LLC bought a new position in ATI in the 4th quarter valued at approximately $1,100,000. Assenagon Asset Management S.A. boosted its stake in ATI by 735.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 355,202 shares of the basic materials company’s stock valued at $16,151,000 after purchasing an additional 312,699 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of ATI by 67.3% in the 3rd quarter. Victory Capital Management Inc. now owns 973,372 shares of the basic materials company’s stock worth $40,054,000 after purchasing an additional 391,554 shares in the last quarter.

ATI Stock Down 1.4 %

The stock has a market cap of $7.32 billion, a PE ratio of 23.63, a PEG ratio of 1.69 and a beta of 1.16. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.81 and a quick ratio of 1.53. The company has a 50 day moving average price of $50.03 and a two-hundred day moving average price of $44.91.

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.