ATI’s (ATI) “Buy” Rating Reaffirmed at Benchmark

ATI (NYSE:ATI)‘s stock had its “buy” rating restated by equities research analysts at Benchmark in a report issued on Wednesday, Benzinga reports. They currently have a $80.00 target price on the basic materials company’s stock. Benchmark’s price objective indicates a potential upside of 34.73% from the company’s previous close.

Other equities research analysts have also issued reports about the company. KeyCorp upped their price target on ATI from $58.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft increased their price objective on ATI from $80.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays increased their price objective on ATI from $55.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. BTIG Research began coverage on ATI in a research note on Wednesday, June 26th. They issued a “buy” rating and a $70.00 price objective on the stock. Finally, Northcoast Research lowered ATI from a “neutral” rating to a “sell” rating in a report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.40.

ATI Price Performance

Shares of ATI stock traded down $0.48 on Wednesday, hitting $59.38. The company’s stock had a trading volume of 1,081,266 shares, compared to its average volume of 1,486,279. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.37 and a current ratio of 2.81. ATI has a 1 year low of $35.03 and a 1 year high of $68.92. The firm has a fifty day moving average price of $58.93 and a 200-day moving average price of $53.34. The company has a market capitalization of $7.39 billion, a price-to-earnings ratio of 24.16, a price-to-earnings-growth ratio of 1.56 and a beta of 1.07.

ATI (NYSE:ATI) last posted its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. ATI had a return on equity of 23.72% and a net margin of 8.70%. ATI’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.59 EPS. As a group, sell-side analysts anticipate that ATI will post 2.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ATI

Several hedge funds have recently made changes to their positions in the company. Capital International Investors grew its holdings in shares of ATI by 1.3% during the first quarter. Capital International Investors now owns 15,409,897 shares of the basic materials company’s stock worth $788,524,000 after purchasing an additional 203,012 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of ATI by 0.9% during the first quarter. Vanguard Group Inc. now owns 14,338,873 shares of the basic materials company’s stock worth $733,720,000 after purchasing an additional 132,478 shares during the last quarter. Frontier Capital Management Co. LLC grew its holdings in shares of ATI by 19.5% during 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 purchasing an additional 594,644 shares during the last quarter. Capital World Investors grew its holdings in shares of ATI by 43.9% during the first quarter. Capital World Investors now owns 2,840,962 shares of the basic materials company’s stock worth $145,372,000 after purchasing an additional 866,310 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of ATI by 6.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,317,722 shares of the basic materials company’s stock worth $105,394,000 after purchasing an additional 139,694 shares during the last quarter.

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.