ATI Inc. (NYSE:ATI) Sees Large Drop in Short Interest

ATI Inc. (NYSE:ATI) saw a significant decrease in short interest in March. As of March 31st, there was short interest totalling 2,930,000 shares, a decrease of 25.4% from the March 15th total of 3,930,000 shares. Approximately 2.1% of the shares of the stock are sold short. Based on an average daily volume of 2,150,000 shares, the days-to-cover ratio is currently 1.4 days.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ATI shares. Benchmark lifted their target price on ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Susquehanna increased their target price on shares of ATI from $70.00 to $73.00 and gave the company a “positive” rating in a research note on Wednesday, February 5th. StockNews.com upgraded shares of ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Barclays raised their price objective on shares of ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.00.

Insider Activity at ATI

In related news, SVP Tina Killough Busch sold 9,900 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $66.41, for a total value of $657,459.00. Following the completion of the transaction, the senior vice president now owns 25,994 shares of the company’s stock, valued at approximately $1,726,261.54. This trade represents a 27.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On ATI

Institutional investors have recently added to or reduced their stakes in the stock. MML Investors Services LLC grew its position in shares of ATI by 16.7% in the 3rd quarter. MML Investors Services LLC now owns 6,311 shares of the basic materials company’s stock worth $422,000 after buying an additional 904 shares during the last quarter. Franklin Resources Inc. increased its position in shares of ATI by 16.2% during the third quarter. Franklin Resources Inc. now owns 445,746 shares of the basic materials company’s stock worth $27,993,000 after purchasing an additional 61,999 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of ATI during the 3rd quarter valued at $3,088,000. ORG Wealth Partners LLC acquired a new stake in shares of ATI in the 4th quarter worth $25,000. Finally, Fragasso Financial Advisors Inc purchased a new position in ATI during the 4th quarter worth $403,000.

ATI Trading Down 0.5 %

Shares of NYSE ATI opened at $45.51 on Monday. ATI has a twelve month low of $39.23 and a twelve month high of $68.92. The company has a quick ratio of 1.32, a current ratio of 2.44 and a debt-to-equity ratio of 0.88. The business has a fifty day simple moving average of $52.71 and a two-hundred day simple moving average of $56.47. The firm has a market cap of $6.42 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 0.85 and a beta of 0.80.

ATI (NYSE:ATI) last posted its earnings results on Tuesday, February 4th. The basic materials company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.19. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.07 billion. ATI had a net margin of 8.43% and a return on equity of 21.16%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 EPS. Analysts expect that ATI will post 2.89 earnings per share for the current fiscal year.

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.