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

StockNews.com lowered shares of ATI (NYSE:ATI) from a hold rating to a sell rating in a report published on Thursday morning.

ATI has been the subject of several other research reports. Susquehanna lowered their price objective on shares of ATI from $75.00 to $70.00 and set a “positive” rating for the company in a research report on Wednesday, October 30th. KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $73.71.

ATI Stock Performance

NYSE ATI opened at $55.61 on Thursday. The firm has a market cap of $7.93 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 1.95 and a beta of 1.12. The company has a current ratio of 2.94, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. ATI has a 1-year low of $38.04 and a 1-year high of $68.92. The company has a 50 day moving average of $56.93 and a 200-day moving average of $60.08.

ATI (NYSE:ATI) last issued its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.06). The business had revenue of $1.05 billion during 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 revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 EPS. On average, equities analysts forecast that ATI will post 2.27 earnings per share for the current fiscal year.

Insider Transactions at ATI

In other news, SVP Tina Killough Busch sold 2,598 shares of ATI stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $60.02, for a total transaction of $155,931.96. Following the transaction, the senior vice president now directly owns 21,553 shares of the company’s stock, valued at $1,293,611.06. This trade represents a 10.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total transaction of $1,474,750.00. Following the completion of the sale, the chairman now owns 436,443 shares of the company’s stock, valued at approximately $25,745,772.57. This represents a 5.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,598 shares of company stock worth $3,186,432 in the last three months. Insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On ATI

Several large investors have recently made changes to their positions in the stock. Mountaineer Partners Management LLC increased its position in shares of ATI by 4,401.2% in the third quarter. Mountaineer Partners Management LLC now owns 9,410,891 shares of the basic materials company’s stock valued at $629,683,000 after acquiring an additional 9,201,818 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in 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 worth $139,003,000 after purchasing an additional 102,691 shares during the period. Geode Capital Management LLC increased its holdings in shares of ATI by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,952,934 shares of the basic materials company’s stock valued at $130,709,000 after purchasing an additional 5,165 shares during the last quarter. Millennium Management LLC raised its position in shares of ATI by 165.1% in the second quarter. Millennium Management LLC now owns 1,944,919 shares of the basic materials company’s stock valued at $107,846,000 after purchasing an additional 1,211,273 shares during the period. Finally, Federated Hermes Inc. lifted its stake in shares of ATI by 4.3% during the 2nd quarter. Federated Hermes Inc. now owns 1,702,648 shares of the basic materials company’s stock worth $94,412,000 after buying an additional 70,812 shares during the last quarter.

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.