Allegheny Technologies Incorporated (NYSE:ATI) Receives $20.71 Average Price Target from Analysts


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Shares of Allegheny Technologies Incorporated (NYSE:ATI) have been given an average recommendation of “Buy” by the nine analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $20.71.

Several research analysts recently commented on the company. Seaport Global Securities assumed coverage on Allegheny Technologies in a research note on Friday, January 15th. They issued a “buy” rating and a $25.00 price objective for the company. Barclays raised Allegheny Technologies from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $16.00 to $26.00 in a research note on Monday, March 22nd. Finally, Zacks Investment Research raised Allegheny Technologies from a “sell” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a research note on Tuesday, January 12th.

Allegheny Technologies stock traded down $0.48 during midday trading on Monday, reaching $21.92. The company had a trading volume of 492 shares, compared to its average volume of 1,447,100. Allegheny Technologies has a 12-month low of $6.21 and a 12-month high of $22.92. The firm’s fifty day simple moving average is $20.93 and its 200-day simple moving average is $15.87. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.70 and a quick ratio of 1.86. The company has a market capitalization of $2.78 billion, a P/E ratio of -7.07 and a beta of 1.93.

Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings results on Wednesday, January 27th. The basic materials company reported ($0.33) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.36) by $0.03. Allegheny Technologies had a positive return on equity of 1.32% and a negative net margin of 11.82%. The firm had revenue of $658.30 million for the quarter, compared to analyst estimates of $599.41 million. During the same period in the previous year, the company posted $0.36 earnings per share. The business’s revenue was down 35.4% on a year-over-year basis. On average, analysts expect that Allegheny Technologies will post -0.54 EPS for the current fiscal year.

In other Allegheny Technologies news, CMO Kevin B. Kramer sold 10,000 shares of the firm’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $22.00, for a total value of $220,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Elliot S. Davis sold 8,233 shares of the firm’s stock in a transaction on Friday, March 5th. The stock was sold at an average price of $20.34, for a total value of $167,459.22. Following the completion of the sale, the senior vice president now directly owns 206,771 shares of the company’s stock, valued at $4,205,722.14. The disclosure for this sale can be found here. Insiders sold a total of 33,433 shares of company stock valued at $729,459 over the last ninety days. Corporate insiders own 0.74% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jeppson Wealth Management LLC purchased a new position in shares of Allegheny Technologies during the 3rd quarter worth $28,000. Nisa Investment Advisors LLC grew its holdings in shares of Allegheny Technologies by 310.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,605 shares of the basic materials company’s stock worth $128,000 after purchasing an additional 5,750 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of Allegheny Technologies by 22.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 10,438 shares of the basic materials company’s stock worth $91,000 after purchasing an additional 1,923 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of Allegheny Technologies during the 4th quarter worth $182,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of Allegheny Technologies during the 4th quarter worth $193,000. Institutional investors and hedge funds own 92.91% of the company’s stock.

Allegheny Technologies Company Profile

Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates in two segments, High Performance Materials & Components and Advanced Alloys & Solutions. The company produces high performance materials, including titanium and titanium-based alloys; nickel-and cobalt-based alloys and superalloys; zirconium and related alloys, such as hafnium and niobium; powder alloys; and other specialty materials in long product forms of ingots, billets, bars, rods, wires, and shapes and rectangles, as well as seamless tubes, plus precision forgings, castings, components, and machined parts to the aerospace and defense, medical, oil and gas, and electrical energy markets.

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Analyst Recommendations for Allegheny Technologies (NYSE:ATI)

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