ATI (NYSE:ATI) Price Target Raised to $70.00

ATI (NYSE:ATI) had its price target raised by Barclays from $55.00 to $70.00 in a research note published on Monday, Benzinga reports. Barclays currently has an overweight rating on the basic materials company’s stock.

ATI has been the subject of several other reports. TheStreet upgraded shares of ATI from a c+ rating to a b- rating in a research report on Friday, January 26th. KeyCorp boosted their price objective 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. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of ATI in a research report on Thursday, April 11th. They set a buy rating and a $70.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, ATI currently has an average rating of Moderate Buy and a consensus price target of $61.00.

ATI Trading Up 0.6 %

ATI stock opened at $60.18 on Monday. ATI has a 52 week low of $34.10 and a 52 week high of $61.58. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.37 and a current ratio of 2.81. The stock has a market capitalization of $7.49 billion, a P/E ratio of 24.17, a PEG ratio of 1.50 and a beta of 1.17. The stock has a 50-day simple moving average of $51.44 and a 200 day simple moving average of $45.77.

ATI (NYSE:ATI) last issued its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company posted $0.49 earnings per share. The business’s revenue was up .5% on a year-over-year basis. Analysts expect that ATI will post 2.4 earnings per share for the current year.

Insider Activity

In related news, VP Timothy J. Harris sold 6,325 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.44, for a total value of $268,433.00. Following the sale, the vice president now 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 this hyperlink. Company insiders own 1.05% of the company’s stock.

Institutional Investors Weigh In On ATI

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its position in shares of ATI by 0.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 84,050 shares of the basic materials company’s stock valued at $3,822,000 after acquiring an additional 216 shares during the period. First Trust Direct Indexing L.P. grew its position in shares of ATI by 4.3% during the 1st quarter. First Trust Direct Indexing L.P. now owns 5,849 shares of the basic materials company’s stock valued at $299,000 after acquiring an additional 239 shares during the period. Evergreen Capital Management LLC grew its position in shares of ATI by 4.1% during the 3rd quarter. Evergreen Capital Management LLC now owns 6,582 shares of the basic materials company’s stock valued at $271,000 after acquiring an additional 258 shares during the period. Inspire Investing LLC grew its position in shares of ATI by 4.1% during the 3rd quarter. Inspire Investing LLC now owns 7,409 shares of the basic materials company’s stock valued at $305,000 after acquiring an additional 291 shares during the period. Finally, Nvwm LLC grew its position in shares of ATI by 2.1% during the 1st quarter. Nvwm LLC now owns 16,177 shares of the basic materials company’s stock valued at $828,000 after acquiring an additional 334 shares during the period.

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.