ATI (NYSE:ATI) Releases Q2 Earnings Guidance

ATI (NYSE:ATI) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.54-0.60 for the period, compared to the consensus EPS estimate of $0.52. ATI also updated its FY24 guidance to $2.30-2.60 EPS.

Analyst Ratings Changes

ATI has been the topic of a number of analyst reports. KeyCorp upped their price objective on shares of ATI from $56.00 to $58.00 and gave the company an overweight rating in a research note on Monday, April 22nd. Deutsche Bank Aktiengesellschaft began coverage on shares of ATI in a research report on Thursday, April 11th. They set a buy rating and a $70.00 price target on the stock. Finally, TheStreet raised ATI from a c+ rating to a b- rating in a research report on Friday, January 26th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $56.00.

ATI Stock Up 0.3 %

Shares of NYSE ATI opened at $51.88 on Tuesday. The company has a quick ratio of 1.53, a current ratio of 2.80 and a debt-to-equity ratio of 1.45. The firm has a market cap of $6.46 billion, a PE ratio of 20.67, a P/E/G ratio of 1.46 and a beta of 1.22. The company’s fifty day simple moving average is $49.73 and its 200 day simple moving average is $44.75. ATI has a 12-month low of $34.10 and a 12-month high of $52.98.

ATI (NYSE:ATI) last announced its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. ATI had a net margin of 8.81% and a return on equity of 24.64%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 earnings per share. As a group, sell-side analysts forecast that ATI will post 2.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Timothy J. Harris sold 6,325 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $42.44, for a total transaction of $268,433.00. Following the transaction, the vice president now directly owns 109,331 shares of the company’s stock, valued at $4,640,007.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.05% of the stock is owned by company insiders.

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.