ATI Inc. (NYSE:ATI) Short Interest Up 14.3% in January

ATI Inc. (NYSE:ATI - Get Free Report) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 3,360,000 shares, a growth of 14.3% from the December 31st total of 2,940,000 shares. Based on an average daily volume of 1,480,000 shares, the short-interest ratio is presently 2.3 days.

Wall Street Analysts Forecast Growth

ATI has been the topic of a number of recent analyst reports. KeyCorp downgraded ATI from an "overweight" rating to a "sector weight" rating in a report on Thursday, October 24th. StockNews.com cut shares of ATI from a "hold" rating to a "sell" rating in a report on Wednesday, January 29th. Finally, Susquehanna upped their target price on shares of ATI from $70.00 to $73.00 and gave the company a "positive" rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. According to MarketBeat, ATI presently has an average rating of "Hold" and an average price target of $74.14.

ATI Stock Performance

ATI stock traded up $2.04 during midday trading on Wednesday, hitting $65.76. 2,016,907 shares of the company's stock were exchanged, compared to its average volume of 1,482,001. 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 stock has a market cap of $9.38 billion, a price-to-earnings ratio of 25.29, a price-to-earnings-growth ratio of 1.52 and a beta of 1.10. ATI has a 12-month low of $38.42 and a 12-month high of $68.92. The firm's 50 day simple moving average is $57.03 and its 200 day simple moving average is $60.16.

ATI (NYSE:ATI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.19. ATI had a return on equity of 21.39% and a net margin of 8.85%. The firm had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. Equities research analysts predict that ATI will post 2.28 EPS for the current year.

Insider Transactions at ATI

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total value of $1,474,750.00. Following the sale, the chairman now owns 436,443 shares of the company's stock, valued at $25,745,772.57. This trade represents a 5.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Tina Killough Busch sold 2,598 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total transaction of $155,931.96. Following the transaction, the senior vice president now owns 21,553 shares of the company's stock, valued at $1,293,611.06. This trade represents a 10.76 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company's stock.

Hedge Funds Weigh In On ATI

A number of large investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its position in ATI by 15.0% in the second quarter. Envestnet Asset Management Inc. now owns 41,483 shares of the basic materials company's stock valued at $2,300,000 after purchasing an additional 5,398 shares during the period. Marshall Wace LLP boosted its stake in shares of ATI by 412.0% in the second quarter. Marshall Wace LLP now owns 51,408 shares of the basic materials company's stock valued at $2,851,000 after buying an additional 41,367 shares in the last quarter. Algert Global LLC boosted its stake in shares of ATI by 348.8% in the second quarter. Algert Global LLC now owns 24,412 shares of the basic materials company's stock valued at $1,354,000 after buying an additional 18,972 shares in the last quarter. Creative Planning grew its holdings in ATI by 30.0% during the second quarter. Creative Planning now owns 24,715 shares of the basic materials company's stock worth $1,370,000 after acquiring an additional 5,705 shares during the period. Finally, Quarry LP purchased a new position in shares of ATI in the 2nd quarter valued at about $26,000.

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.