ATI (NYSE:ATI) Posts Quarterly Earnings Results, Beats Expectations By $0.19 EPS

ATI (NYSE:ATI - Get Free Report) released its quarterly earnings data on Tuesday. The basic materials company reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.19, Zacks reports. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.07 billion. ATI had a return on equity of 21.39% and a net margin of 8.85%. The business's quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 earnings per share.

ATI Stock Down 1.2 %

Shares of NYSE ATI traded down $0.78 during mid-day trading on Friday, reaching $62.73. 1,119,864 shares of the company traded hands, compared to its average volume of 1,526,071. The stock has a market cap of $8.95 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 1.52 and a beta of 1.10. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.94. ATI has a fifty-two week low of $39.71 and a fifty-two week high of $68.92. The company's fifty day moving average is $57.21 and its two-hundred day moving average is $60.22.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Susquehanna upped their target price on ATI from $70.00 to $73.00 and gave the company a "positive" rating in a research report on Wednesday. StockNews.com raised shares of ATI from a "sell" rating to a "hold" rating in a research note on Thursday. Finally, KeyCorp cut ATI from an "overweight" rating to a "sector weight" rating in a report on Thursday, October 24th. One investment 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $74.14.

Insider Buying and Selling

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the 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 transaction, the chairman now directly owns 436,443 shares in the company, valued at $25,745,772.57. This represents a 5.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Tina Killough Busch sold 2,598 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total value of $155,931.96. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by insiders.

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.