ATI Inc. (NYSE:ATI) Given Consensus Rating of “Moderate Buy” by Brokerages

ATI Inc. (NYSE:ATI) has been given an average rating of “Moderate Buy” by the eight brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $73.71.

A number of research analysts have issued reports on the company. KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lifted their price target on ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Benchmark reaffirmed a “buy” rating and set a $80.00 price objective on shares of ATI in a research report on Wednesday, August 7th. Susquehanna dropped their target price on ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their target price on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st.

Insider Buying and Selling at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total value of $1,555,750.00. Following the transaction, the chairman now directly owns 486,443 shares of the company’s stock, valued at $30,271,347.89. This represents a 4.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.05% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in ATI by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,952,934 shares of the basic materials company’s stock worth $130,709,000 after purchasing an additional 5,165 shares in the last quarter. MML Investors Services LLC raised its position in shares of ATI by 16.7% in the third quarter. MML Investors Services LLC now owns 6,311 shares of the basic materials company’s stock valued at $422,000 after buying an additional 904 shares in the last quarter. Orion Portfolio Solutions LLC boosted its stake in shares of ATI by 8.3% in the third quarter. Orion Portfolio Solutions LLC now owns 8,300 shares of the basic materials company’s stock valued at $555,000 after buying an additional 633 shares during the period. National Bank of Canada FI acquired a new stake in ATI during the third quarter worth approximately $1,800,000. Finally, Wellington Management Group LLP grew its position in ATI by 12.4% during the third quarter. Wellington Management Group LLP now owns 560,711 shares of the basic materials company’s stock worth $37,517,000 after buying an additional 61,873 shares in the last quarter.

ATI Stock Up 2.0 %

Shares of NYSE:ATI opened at $59.30 on Wednesday. The company has a 50 day moving average of $61.08 and a 200-day moving average of $60.60. ATI has a one year low of $38.04 and a one year high of $68.92. The stock has a market cap of $8.46 billion, a price-to-earnings ratio of 22.81, a P/E/G ratio of 2.05 and a beta of 1.08. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.94 and a quick ratio of 1.44.

ATI (NYSE:ATI) last announced its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). ATI had a net margin of 8.85% and a return on equity of 21.39%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the company earned $0.55 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. On average, sell-side analysts forecast that ATI will post 2.27 earnings per share for the current year.

ATI announced that its Board of Directors has initiated a stock buyback plan on Tuesday, September 3rd that permits the company to repurchase $700.00 million in shares. This repurchase authorization permits the basic materials company to purchase up to 9.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

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.