ATI (NYSE:ATI) Research Coverage Started at Susquehanna

Susquehanna assumed coverage on shares of ATI (NYSE:ATI) in a report issued on Thursday morning, Marketbeat reports. The firm issued a positive rating and a $75.00 price target on the basic materials company’s stock.

A number of other equities analysts have also recently issued reports on ATI. Deutsche Bank Aktiengesellschaft increased their price target on ATI from $80.00 to $81.00 and gave the stock a buy rating in a report on Wednesday, August 7th. Northcoast Research lowered ATI from a neutral rating to a sell rating in a research report on Friday, June 14th. Benchmark reissued a buy rating and issued a $80.00 price target on shares of ATI in a research report on Wednesday, August 7th. KeyCorp increased their price target on ATI from $66.00 to $67.00 and gave the company an overweight rating in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. increased their price target on ATI from $65.00 to $75.00 and gave the company an overweight rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ATI presently has a consensus rating of Moderate Buy and a consensus target price of $74.00.

ATI Stock Performance

NYSE:ATI opened at $58.13 on Thursday. The stock has a market cap of $7.23 billion, a P/E ratio of 23.35, a price-to-earnings-growth ratio of 1.46 and a beta of 1.04. The company has a current ratio of 2.13, a quick ratio of 1.07 and a debt-to-equity ratio of 1.26. The stock’s 50-day moving average is $61.67 and its 200-day moving average is $56.73. ATI has a 1-year low of $35.03 and a 1-year high of $68.92.

ATI (NYSE:ATI) last announced its earnings results on Tuesday, August 6th. The basic materials company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. ATI had a return on equity of 23.05% and a net margin of 8.74%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 earnings per share. Equities research analysts anticipate that ATI will post 2.48 earnings per share for the current year.

ATI announced that its board has authorized a stock repurchase plan on Tuesday, September 3rd that allows the company to repurchase $700.00 million in outstanding shares. This repurchase authorization allows the basic materials company to reacquire up to 9.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On ATI

Large investors have recently modified their holdings of the company. Capital International Investors grew its position in shares of ATI by 1.3% in the 1st quarter. Capital International Investors now owns 15,409,897 shares of the basic materials company’s stock worth $788,524,000 after buying an additional 203,012 shares during the last quarter. Vanguard Group Inc. boosted its position 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 valued at $733,720,000 after purchasing an additional 132,478 shares in the last quarter. Frontier Capital Management Co. LLC boosted its position 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 valued at $165,767,000 after purchasing an additional 594,644 shares in the last quarter. Capital World Investors boosted its position 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 valued at $145,372,000 after purchasing an additional 866,310 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of ATI by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,506,609 shares of the basic materials company’s stock valued at $139,003,000 after purchasing an additional 102,691 shares in 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.