ATI (NYSE:ATI) Given New $70.00 Price Target at Susquehanna

ATI (NYSE:ATI - Free Report) had its price objective cut by Susquehanna from $75.00 to $70.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a positive rating on the basic materials company's stock.

Several other equities research analysts have also issued reports on ATI. JPMorgan Chase & Co. increased their target price on shares of ATI from $65.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of ATI from $81.00 to $84.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. Benchmark reiterated a "buy" rating and set a $80.00 target price on shares of ATI in a research report on Wednesday, August 7th. 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, one has issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, ATI currently has an average rating of "Moderate Buy" and a consensus price target of $73.71.

ATI Stock Performance

Shares of ATI traded down $2.61 on Wednesday, reaching $54.21. The company's stock had a trading volume of 3,069,950 shares, compared to its average volume of 1,440,389. ATI has a 12-month low of $36.70 and a 12-month high of $68.92. The stock has a market capitalization of $6.75 billion, a P/E ratio of 22.03, a PEG ratio of 1.38 and a beta of 1.04. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.13 and a quick ratio of 1.07. The stock's 50 day simple moving average is $63.24 and its two-hundred day simple moving average is $60.24.

ATI (NYSE:ATI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.06). The company had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.12 billion. ATI had a return on equity of 23.05% and a net margin of 8.74%. The company's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the company earned $0.55 earnings per share. Research analysts forecast that ATI will post 2.47 earnings per share for the current fiscal year.

ATI announced that its board has authorized a stock repurchase plan on Tuesday, September 3rd that permits the company to repurchase $700.00 million in shares. This repurchase authorization permits the basic materials company to repurchase 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.

Insider Buying and Selling

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the business's stock in a transaction dated 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 sale, the chairman now owns 486,443 shares in the company, valued at approximately $30,271,347.89. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.05% of the stock is owned by insiders.

Institutional Investors Weigh In On ATI

A number of institutional investors have recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in shares of ATI in the 2nd quarter worth approximately $26,000. UMB Bank n.a. grew its stake in ATI by 557.0% during the 3rd quarter. UMB Bank n.a. now owns 933 shares of the basic materials company's stock worth $62,000 after buying an additional 791 shares during the last quarter. EverSource Wealth Advisors LLC increased its position 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 valued at $69,000 after buying an additional 1,010 shares in the last quarter. Quest Partners LLC purchased a new stake in ATI in the second quarter valued at about $88,000. Finally, nVerses Capital LLC acquired a new stake in ATI in the second quarter worth about $205,000.

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.