Benchmark Forecasts Strong Price Appreciation for ATI (NYSE:ATI) Stock

ATI (NYSE:ATI - Free Report) had its price objective upped by Benchmark from $80.00 to $81.00 in a research report released on Thursday morning,Benzinga reports. Benchmark currently has a buy rating on the basic materials company's stock.

Other equities analysts have also issued research reports about the stock. Barclays raised their price objective on shares of ATI from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Susquehanna raised their target price on ATI from $70.00 to $73.00 and gave the stock a "positive" rating in a research report on Wednesday, February 5th. KeyCorp lowered ATI from an "overweight" rating to a "sector weight" rating in a research report on Thursday, October 24th. Finally, StockNews.com raised ATI from a "sell" rating to a "hold" rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.00.

ATI Trading Down 0.6 %

Shares of ATI stock traded down $0.35 on Thursday, reaching $60.88. 1,293,741 shares of the company were exchanged, compared to its average volume of 1,519,570. ATI has a fifty-two week low of $44.15 and a fifty-two week high of $68.92. The firm has a market capitalization of $8.68 billion, a price-to-earnings ratio of 23.87, a price-to-earnings-growth ratio of 1.69 and a beta of 1.10. The company has a current ratio of 2.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.88. The stock has a fifty day moving average price of $57.51 and a 200-day moving average price of $60.09.

ATI (NYSE:ATI - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the company earned $0.64 EPS. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts expect that ATI will post 2.87 EPS for the current year.

Insiders Place Their Bets

In other ATI news, SVP Tina Killough Busch sold 9,900 shares of the firm's stock in a transaction dated 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 $1,726,261.54. This trade represents a 27.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the company's stock in a transaction dated Wednesday, December 4th. The stock was 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 approximately $25,745,772.57. This trade represents a 5.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,498 shares of company stock valued at $2,288,141 in the last three months. Insiders own 0.71% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC grew its holdings in ATI by 3.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,383 shares of the basic materials company's stock worth $360,000 after acquiring an additional 172 shares during the last quarter. CIBC Asset Management Inc raised its stake 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 worth $215,000 after buying an additional 192 shares during the last quarter. Keystone Financial Group lifted its holdings in ATI by 5.3% in the fourth quarter. Keystone Financial Group now owns 3,950 shares of the basic materials company's stock valued at $217,000 after buying an additional 200 shares during the period. Pier 88 Investment Partners LLC boosted its stake in ATI by 3.0% in the fourth quarter. Pier 88 Investment Partners LLC now owns 7,620 shares of the basic materials company's stock valued at $419,000 after acquiring an additional 220 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its holdings in ATI by 2.1% during the 4th quarter. Hantz Financial Services Inc. now owns 11,680 shares of the basic materials company's stock worth $643,000 after acquiring an additional 240 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.