ATI (NYSE:ATI) Sets New 12-Month High – Should You Buy?

ATI Inc. (NYSE:ATI) reached a new 52-week high during trading on Monday . The stock traded as high as $85.67 and last traded at $84.88, with a volume of 411203 shares changing hands. The stock had previously closed at $84.00.

Analyst Ratings Changes

A number of research analysts have weighed in on ATI shares. Benchmark reaffirmed a “buy” rating and issued a $81.00 price objective on shares of ATI in a research note on Monday, April 21st. Barclays boosted their price objective on ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. BTIG Research set a $105.00 target price on ATI and gave the company a “buy” rating in a research report on Wednesday, May 28th. Citigroup upgraded shares of ATI to a “positive” rating in a research note on Tuesday, May 20th. Finally, KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $78.29.

ATI Trading Up 1.2%

The stock has a 50 day moving average of $62.78 and a 200 day moving average of $58.94. The firm has a market cap of $12.00 billion, a P/E ratio of 33.40, a PEG ratio of 0.85 and a beta of 1.14. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.44 and a quick ratio of 1.32.

ATI (NYSE:ATI) last issued its earnings results on Thursday, May 1st. The basic materials company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. ATI had a net margin of 8.43% and a return on equity of 21.16%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the firm earned $0.48 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities research analysts predict that ATI Inc. will post 2.89 EPS for the current year.

Insider Transactions at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 45,359 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $75.31, for a total transaction of $3,415,986.29. Following the transaction, the chairman now owns 461,179 shares in the company, valued at approximately $34,731,390.49. This represents a 8.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 145,359 shares of company stock valued at $10,906,986 in the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ATI

Several institutional investors have recently made changes to their positions in the business. WPG Advisers LLC bought a new position in ATI in the 1st quarter worth approximately $29,000. Golden State Wealth Management LLC lifted its stake in shares of ATI by 104.1% in the 1st quarter. Golden State Wealth Management LLC now owns 596 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 304 shares during the last quarter. Bessemer Group Inc. boosted its stake in ATI by 139.9% during the first quarter. Bessemer Group Inc. now owns 662 shares of the basic materials company’s stock worth $34,000 after buying an additional 386 shares during the period. Olde Wealth Management LLC bought a new position in ATI during the 1st quarter valued at about $36,000. Finally, Headlands Technologies LLC bought a new position in shares of ATI during the first quarter valued at approximately $47,000.

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.