ATI (NYSE:ATI) Lowered to Sell Rating by StockNews.com

ATI (NYSE:ATI) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Monday.

ATI has been the topic of several other reports. Susquehanna decreased their price target on shares of ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research note on Wednesday, October 30th. KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Benchmark reiterated a “buy” rating and issued a $80.00 price target on shares of ATI in a research report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price target on ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on ATI from $81.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $73.71.

ATI Stock Performance

ATI stock traded down $0.47 during mid-day trading on Monday, hitting $59.70. 1,346,098 shares of the company were exchanged, compared to its average volume of 1,446,324. ATI has a 1-year low of $38.04 and a 1-year high of $68.92. The business has a 50 day simple moving average of $60.82 and a 200-day simple moving average of $60.58. The company has a current ratio of 2.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $8.52 billion, a PE ratio of 22.96, a price-to-earnings-growth ratio of 2.08 and a beta of 1.08.

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

ATI announced that its Board of Directors has authorized a share buyback 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 buy up to 9.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $61.61, for a total value of $1,540,250.00. Following the completion of the transaction, the chairman now owns 511,443 shares of the company’s stock, valued at approximately $31,510,003.23. This represents a 4.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On ATI

Institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its position in ATI by 16.2% in the third quarter. Franklin Resources Inc. now owns 445,746 shares of the basic materials company’s stock valued at $27,993,000 after buying an additional 61,999 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of ATI by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,952,934 shares of the basic materials company’s stock valued at $130,709,000 after acquiring an additional 5,165 shares during the last quarter. MML Investors Services LLC lifted its stake in shares of ATI by 16.7% in the 3rd quarter. MML Investors Services LLC now owns 6,311 shares of the basic materials company’s stock valued at $422,000 after acquiring an additional 904 shares during the last quarter. Orion Portfolio Solutions LLC boosted its holdings in shares of ATI by 8.3% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 8,300 shares of the basic materials company’s stock valued at $555,000 after acquiring an additional 633 shares in the last quarter. Finally, National Bank of Canada FI bought a new stake in ATI during the 3rd quarter worth $1,800,000.

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.