ATI’s (ATI) Buy Rating Reaffirmed at Benchmark

ATI (NYSE:ATI)‘s stock had its “buy” rating reiterated by investment analysts at Benchmark in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $81.00 price objective on the basic materials company’s stock. Benchmark’s target price would suggest a potential upside of 80.28% from the stock’s current price.

Several other research analysts have also commented on ATI. StockNews.com upgraded ATI from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Barclays boosted their target price on shares of ATI from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Finally, Susquehanna lifted their price target on shares of ATI from $70.00 to $73.00 and gave the company a “positive” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, ATI presently has a consensus rating of “Moderate Buy” and an average price target of $75.00.

ATI Stock Performance

Shares of ATI stock traded down $0.57 during trading hours on Monday, hitting $44.93. 120,085 shares of the company were exchanged, compared to its average volume of 1,680,601. The business has a 50-day moving average of $52.71 and a 200-day moving average of $56.47. ATI has a 1 year low of $39.23 and a 1 year high of $68.92. The company has a current ratio of 2.44, a quick ratio of 1.32 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $6.34 billion, a price-to-earnings ratio of 17.62, a P/E/G ratio of 0.85 and a beta of 0.80.

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

Insider Transactions at ATI

In other news, SVP Tina Killough Busch sold 9,900 shares of ATI stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $66.41, for a total transaction of $657,459.00. Following the transaction, the senior vice president now directly owns 25,994 shares in the company, valued at approximately $1,726,261.54. This trade represents a 27.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. CIBC Asset Management Inc lifted its holdings in shares of ATI by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 3,915 shares of the basic materials company’s stock valued at $215,000 after purchasing an additional 192 shares during the last quarter. Keystone Financial Group raised its holdings in shares of ATI by 5.3% during the 4th quarter. Keystone Financial Group now owns 3,950 shares of the basic materials company’s stock valued at $217,000 after purchasing an additional 200 shares in the last quarter. Pier 88 Investment Partners LLC boosted its stake in shares of ATI by 3.0% during the 4th quarter. Pier 88 Investment Partners LLC now owns 7,620 shares of the basic materials company’s stock worth $419,000 after acquiring an additional 220 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in shares of ATI by 2.1% in the fourth quarter. Hantz Financial Services Inc. now owns 11,680 shares of the basic materials company’s stock worth $643,000 after buying an additional 240 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of ATI by 20.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,729 shares of the basic materials company’s stock valued at $95,000 after purchasing an additional 288 shares during the last quarter.

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.