ATI Inc. (NYSE:ATI) Given Average Rating of "Moderate Buy" by Brokerages

ATI Inc. (NYSE:ATI - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eight research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $74.43.

A number of analysts have issued reports on ATI shares. KeyCorp downgraded shares of ATI from an "overweight" rating to a "sector weight" rating in a report on Thursday. JPMorgan Chase & Co. increased their price target on ATI from $65.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 21st. Susquehanna initiated coverage on ATI in a report on Thursday, September 5th. They issued a "positive" rating and a $75.00 price objective for the company. Deutsche Bank Aktiengesellschaft increased their target price on ATI from $81.00 to $84.00 and gave the stock a "buy" rating in a report on Thursday, October 3rd. Finally, Benchmark reaffirmed a "buy" rating and issued a $80.00 price target on shares of ATI in a research note on Wednesday, August 7th.

Insider Transactions at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total value of $1,555,750.00. Following the completion of the transaction, the chairman now directly owns 486,443 shares in the company, valued at approximately $30,271,347.89. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.71% of the company's stock.

Institutional Investors Weigh In On ATI

A number of institutional investors have recently made changes to their positions in ATI. Quarry LP bought a new stake in shares of ATI in the 2nd quarter valued at $26,000. UMB Bank n.a. boosted its position 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 acquiring an additional 791 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in ATI by 294.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company's stock worth $69,000 after acquiring an additional 1,010 shares during the period. Quest Partners LLC bought a new position in shares of ATI in the 2nd quarter worth about $88,000. Finally, nVerses Capital LLC acquired a new position in shares of ATI in the 2nd quarter valued at about $205,000.

ATI Stock Performance

Shares of ATI stock traded down $0.11 on Friday, hitting $61.38. The stock had a trading volume of 1,183,539 shares, compared to its average volume of 1,411,611. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth ratio of 1.42 and a beta of 1.04. The company has a quick ratio of 1.07, a current ratio of 2.13 and a debt-to-equity ratio of 1.26. ATI has a twelve month low of $36.65 and a twelve month high of $68.92. The business's 50 day moving average is $63.40 and its two-hundred day moving average is $60.05.

ATI (NYSE:ATI - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.02. ATI had a return on equity of 23.05% and a net margin of 8.74%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the firm posted $0.59 EPS. The company's revenue for the quarter was up 5.2% on a year-over-year basis. Analysts forecast that ATI will post 2.47 EPS for the current year.

ATI announced that its Board of Directors has authorized a share repurchase 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 usually a sign that the company's board of directors believes its stock is undervalued.

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.