ATI (NYSE:ATI - Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 2.240-2.300 for the period, compared to the consensus earnings per share estimate of 2.450. The company issued revenue guidance of -. ATI also updated its FY24 guidance to $2.24-2.30 EPS.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on ATI. Benchmark reiterated a "buy" rating and issued a $80.00 price objective on shares of ATI in a research report on Wednesday, August 7th. KeyCorp cut ATI from an "overweight" rating to a "sector weight" rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft boosted their target price on ATI from $81.00 to $84.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. boosted their target price on ATI from $65.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, August 21st. Finally, Susquehanna started coverage on ATI in a research note on Thursday, September 5th. They issued a "positive" rating and a $75.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $74.43.
View Our Latest Report on ATI
ATI Stock Down 10.1 %
Shares of ATI stock traded down $6.40 on Tuesday, reaching $56.82. 5,878,258 shares of the company were exchanged, compared to its average volume of 1,434,528. ATI has a one year low of $36.70 and a one year high of $68.92. The company has a market capitalization of $7.07 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 1.38 and a beta of 1.04. The company has a current ratio of 2.13, a quick ratio of 1.07 and a debt-to-equity ratio of 1.26. The company has a 50-day moving average of $63.37 and a 200 day moving average of $60.20.
ATI (NYSE:ATI - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter in the prior year, the business posted $0.59 EPS. The business's revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts forecast that ATI will post 2.47 earnings per share for the current year.
ATI declared that its Board of Directors has approved a share repurchase plan on Tuesday, September 3rd that permits the company to repurchase $700.00 million in outstanding shares. This repurchase authorization permits the basic materials company to purchase up to 9.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.
Insider Activity at ATI
In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total value of $1,555,750.00. Following the sale, the chairman now directly owns 486,443 shares of the company's stock, valued at $30,271,347.89. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.05% of the stock is currently owned by insiders.
ATI Company Profile
(
Get Free Report)
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.
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