KeyCorp Increases ATI (NYSE:ATI) Price Target to $58.00

ATI (NYSE:ATI) had its target price boosted by KeyCorp from $56.00 to $58.00 in a research report report published on Monday morning, Benzinga reports. KeyCorp currently has an overweight rating on the basic materials company’s stock.

Other equities research analysts have also recently issued research reports about the stock. TheStreet raised shares of ATI from a c+ rating to a b- rating in a report on Friday, January 26th. Deutsche Bank Aktiengesellschaft started coverage on shares of ATI in a research note on Thursday, April 11th. They issued a buy rating and a $70.00 price objective for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, ATI has an average rating of Moderate Buy and a consensus price target of $56.00.

ATI Trading Up 1.3 %

NYSE:ATI opened at $49.87 on Monday. The company has a current ratio of 2.80, a quick ratio of 1.53 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $6.21 billion, a PE ratio of 19.87, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22. The firm’s 50 day moving average is $49.48 and its 200 day moving average is $44.53. ATI has a 12 month low of $34.10 and a 12 month high of $52.98.

ATI (NYSE:ATI) last posted its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. ATI had a net margin of 8.81% and a return on equity of 24.64%. ATI’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 EPS. Sell-side analysts expect that ATI will post 2.26 earnings per share for the current year.

Insider Activity

In other news, VP Timothy J. Harris sold 6,325 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.44, for a total transaction of $268,433.00. Following the completion of the transaction, the vice president now directly owns 109,331 shares in the company, valued at approximately $4,640,007.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ATI. Palestra Capital Management LLC grew its position in shares of ATI by 839.0% during the 3rd quarter. Palestra Capital Management LLC now owns 2,190,728 shares of the basic materials company’s stock valued at $90,148,000 after purchasing an additional 1,957,416 shares in the last quarter. Point72 Asset Management L.P. grew its position in ATI by 1,393.2% in the fourth quarter. Point72 Asset Management L.P. now owns 1,539,536 shares of the basic materials company’s stock worth $70,003,000 after acquiring an additional 1,436,436 shares in the last quarter. Norges Bank purchased a new position in ATI in the fourth quarter worth $55,855,000. Frontier Capital Management Co. LLC grew its position in ATI by 19.5% in the fourth quarter. Frontier Capital Management Co. LLC now owns 3,645,644 shares of the basic materials company’s stock worth $165,767,000 after acquiring an additional 594,644 shares in the last quarter. Finally, Hawk Ridge Capital Management LP purchased a new position in ATI in the third quarter worth $18,727,000.

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.