ATI (NYSE:ATI) Sees Strong Trading Volume

ATI Inc. (NYSE:ATI) saw strong trading volume on Wednesday . 1,373,891 shares traded hands during mid-day trading, a decline of 3% from the previous session’s volume of 1,416,570 shares.The stock last traded at $59.62 and had previously closed at $60.27.

Analyst Ratings Changes

ATI has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on ATI from $80.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Benchmark restated a “buy” rating and set a $80.00 target price on shares of ATI in a report on Wednesday, August 7th. BTIG Research assumed coverage on shares of ATI in a research report on Wednesday, June 26th. They issued a “buy” rating and a $70.00 target price for the company. Northcoast Research downgraded shares of ATI from a “neutral” rating to a “sell” rating in a report on Friday, June 14th. Finally, KeyCorp raised their price objective on shares of ATI from $66.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $73.83.

ATI Trading Down 0.8 %

The company has a 50-day moving average price of $61.47 and a two-hundred day moving average price of $56.44. The stock has a market cap of $7.44 billion, a P/E ratio of 24.22, a P/E/G ratio of 1.56 and a beta of 1.05. The company has a current ratio of 2.13, a quick ratio of 1.07 and a debt-to-equity ratio of 1.26.

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

Institutional Trading of ATI

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bornite Capital Management LP bought a new stake in ATI in the 4th quarter valued at $10,003,000. SG Americas Securities LLC grew its stake in shares of ATI by 202.7% during the 2nd quarter. SG Americas Securities LLC now owns 27,450 shares of the basic materials company’s stock valued at $1,522,000 after acquiring an additional 18,381 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of ATI by 31.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,306,784 shares of the basic materials company’s stock valued at $59,419,000 after purchasing an additional 315,506 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in ATI during the first quarter worth $763,000. Finally, First Hawaiian Bank purchased a new stake in ATI during the second quarter worth $757,000.

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.