Brokerages Set ATI Inc. (NYSE:ATI) Target Price at $73.71

ATI Inc. (NYSE:ATI - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eight analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $73.71.

Several equities research analysts have recently weighed in on ATI shares. KeyCorp lowered ATI from an "overweight" rating to a "sector weight" rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. increased their price target on ATI from $65.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, August 21st. Benchmark restated a "buy" rating and set a $80.00 price objective on shares of ATI in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their target price on shares of ATI from $81.00 to $84.00 and gave the stock a "buy" rating in a report on Thursday, October 3rd. Finally, Susquehanna cut their price target on shares of ATI from $75.00 to $70.00 and set a "positive" rating on the stock in a report on Wednesday, October 30th.

Insiders Place Their Bets

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total value of $1,555,750.00. Following the transaction, the chairman now owns 486,443 shares in the company, valued at approximately $30,271,347.89. This represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.71% of the company's stock.

Institutional Trading of ATI

Several large investors have recently added to or reduced their stakes in the business. Mountaineer Partners Management LLC boosted its holdings in ATI by 4,401.2% in the third quarter. Mountaineer Partners Management LLC now owns 9,410,891 shares of the basic materials company's stock worth $629,683,000 after purchasing an additional 9,201,818 shares in the last quarter. Millennium Management LLC increased its holdings in shares of ATI by 165.1% during the 2nd quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company's stock valued at $107,846,000 after acquiring an additional 1,211,273 shares during the last quarter. Capital World Investors raised its stake in shares of ATI by 43.9% in the 1st quarter. Capital World Investors now owns 2,840,962 shares of the basic materials company's stock valued at $145,372,000 after acquiring an additional 866,310 shares in the last quarter. Senator Investment Group LP lifted its holdings in ATI by 167.6% in the 2nd quarter. Senator Investment Group LP now owns 891,138 shares of the basic materials company's stock worth $49,414,000 after purchasing an additional 558,138 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in ATI during the second quarter worth approximately $28,896,000.

ATI Price Performance

NYSE ATI traded down $0.04 on Wednesday, reaching $58.19. The company's stock had a trading volume of 120,591 shares, compared to its average volume of 1,456,183. ATI has a twelve month low of $38.04 and a twelve month high of $68.92. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.94. The firm's 50 day moving average is $61.28 and its two-hundred day moving average is $60.62. The stock has a market cap of $8.30 billion, a PE ratio of 22.25, a PEG ratio of 1.94 and a beta of 1.08.

ATI (NYSE:ATI - Get Free Report) last released its 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). The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.12 billion. ATI had a return on equity of 21.39% and a net margin of 8.85%. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 earnings per share. As a group, sell-side analysts predict that ATI will post 2.27 EPS for the current year.

ATI declared that its board has authorized a stock buyback plan on Tuesday, September 3rd that authorizes the company to repurchase $700.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to buy up to 9.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its shares are 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.