ATI (NYSE:ATI) Price Target Raised to $73.00

ATI (NYSE:ATI - Get Free Report) had its target price hoisted by research analysts at Susquehanna from $70.00 to $73.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a "positive" rating on the basic materials company's stock. Susquehanna's target price suggests a potential upside of 16.37% from the company's previous close.

A number of other analysts have also recently weighed in on ATI. KeyCorp cut ATI from an "overweight" rating to a "sector weight" rating in a research report on Thursday, October 24th. StockNews.com lowered ATI from a "hold" rating to a "sell" rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, ATI has a consensus rating of "Moderate Buy" and an average price target of $74.14.

ATI Stock Down 1.2 %

NYSE:ATI traded down $0.78 during mid-day trading on Wednesday, reaching $62.73. The stock had a trading volume of 1,654,742 shares, compared to its average volume of 1,519,570. The stock has a market cap of $8.95 billion, a P/E ratio of 24.60, a PEG ratio of 1.69 and a beta of 1.10. The business's 50 day moving average is $57.26 and its 200 day moving average is $60.23. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.44 and a quick ratio of 1.44. ATI has a fifty-two week low of $39.71 and a fifty-two week high of $68.92.

ATI (NYSE:ATI - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The basic materials company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.60 by $0.19. ATI had a net margin of 8.43% and a return on equity of 21.16%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the business posted $0.64 EPS. ATI's quarterly revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts predict that ATI will post 2.87 earnings per share for the current year.

Insider Activity

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the company's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total transaction of $1,474,750.00. Following the completion of the transaction, the chairman now owns 436,443 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Tina Killough Busch sold 2,598 shares of ATI 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 sale, the senior vice president now directly owns 21,553 shares in the company, valued at approximately $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. Over the last three months, insiders sold 37,498 shares of company stock valued at $2,288,141. 0.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. ORG Wealth Partners LLC acquired a new position in shares of ATI in the 4th quarter valued at $25,000. Quarry LP raised its position in ATI by 86.4% in the third quarter. Quarry LP now owns 889 shares of the basic materials company's stock worth $59,000 after purchasing an additional 412 shares in the last quarter. UMB Bank n.a. boosted its holdings in ATI by 557.0% during the third quarter. UMB Bank n.a. now owns 933 shares of the basic materials company's stock valued at $62,000 after purchasing an additional 791 shares in the last quarter. Mainstream Capital Management LLC acquired a new position in shares of ATI in the 4th quarter worth approximately $94,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of ATI by 236.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,406 shares of the basic materials company's stock worth $132,000 after buying an additional 1,690 shares during the period.

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.