ATI Inc. (NYSE:ATI) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of ATI Inc. (NYSE:ATI) have been assigned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $73.71.

A number of analysts recently commented on ATI shares. Deutsche Bank Aktiengesellschaft raised their price target on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Susquehanna decreased their price objective on ATI from $75.00 to $70.00 and set a “positive” rating for the company in a report on Wednesday. Benchmark reissued a “buy” rating and issued a $80.00 target price on shares of ATI in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st.

ATI Stock Performance

Shares of ATI stock opened at $53.40 on Friday. The company has a market capitalization of $7.62 billion, a P/E ratio of 20.54, a PEG ratio of 1.29 and a beta of 1.08. ATI has a fifty-two week low of $37.94 and a fifty-two week high of $68.92. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.07 and a current ratio of 2.94. The stock has a 50 day moving average price of $62.49 and a two-hundred day moving average price of $60.16.

ATI (NYSE:ATI) last posted its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.12 billion. ATI had a net margin of 8.85% and a return on equity of 21.39%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.55 earnings per share. Analysts expect that ATI will post 2.27 earnings per share for the current year.

ATI announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, September 3rd that allows the company to buyback $700.00 million in outstanding shares. This buyback authorization allows the basic materials company to reacquire up to 9.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the completion of the transaction, the chairman now owns 486,443 shares in the company, valued at $30,271,347.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP purchased a new stake in shares of ATI in the 2nd quarter worth $26,000. UMB Bank n.a. boosted its holdings in ATI by 557.0% in the third quarter. UMB Bank n.a. now owns 933 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 791 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of ATI by 294.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock worth $69,000 after purchasing an additional 1,010 shares during the period. Quest Partners LLC purchased a new position in shares of ATI in the 2nd quarter valued at about $88,000. Finally, nVerses Capital LLC purchased a new stake in shares of ATI in the second quarter valued at approximately $205,000.

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.