ATI (NYSE:ATI) Given New $81.00 Price Target at Benchmark

ATI (NYSE:ATI) had its price target lifted by analysts at Benchmark from $80.00 to $81.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Benchmark’s price objective suggests a potential upside of 36.25% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Barclays raised their target price on shares of ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday. Susquehanna upped their target price on shares of ATI from $70.00 to $73.00 and gave the company a “positive” rating in a report on Wednesday, February 5th. StockNews.com raised ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Finally, KeyCorp downgraded ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $75.00.

ATI Stock Down 2.2 %

Shares of NYSE ATI traded down $1.33 during mid-day trading on Thursday, reaching $59.45. The company had a trading volume of 294,738 shares, compared to its average volume of 1,513,294. The firm has a 50 day simple moving average of $57.39 and a two-hundred day simple moving average of $60.20. ATI has a 52-week low of $41.91 and a 52-week high of $68.92. The company has a current ratio of 2.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.88. The stock has a market cap of $8.48 billion, a P/E ratio of 23.31, a PEG ratio of 1.69 and a beta of 1.10.

ATI (NYSE:ATI) last issued its quarterly earnings data on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.19. ATI had a return on equity of 21.16% and a net margin of 8.43%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the company posted $0.64 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. Sell-side analysts predict that ATI will post 2.87 earnings per share for the current year.

Insider Activity at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total value 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 $25,745,772.57. This trade represents a 5.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tina Killough Busch sold 9,900 shares of ATI stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $66.41, for a total transaction of $657,459.00. Following the sale, the senior vice president now owns 25,994 shares in the company, valued at $1,726,261.54. This represents a 27.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,498 shares of company stock worth $2,288,141. Company 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 company. Legal & General Group Plc increased its position in shares of ATI by 4.4% during the fourth quarter. Legal & General Group Plc now owns 401,083 shares of the basic materials company’s stock worth $22,076,000 after acquiring an additional 16,830 shares during the last quarter. Invesco Ltd. raised its position in shares of ATI by 4.5% in the 4th quarter. Invesco Ltd. now owns 4,696,500 shares of the basic materials company’s stock valued at $258,495,000 after purchasing an additional 203,742 shares in the last quarter. Cinctive Capital Management LP acquired a new stake in shares of ATI during the fourth quarter worth approximately $796,000. Geode Capital Management LLC grew its holdings in ATI by 10.1% during the 4th quarter. Geode Capital Management LLC now owns 2,150,204 shares of the basic materials company’s stock worth $118,389,000 after acquiring an additional 197,270 shares in the last quarter. Finally, Pier 88 Investment Partners LLC raised its holdings in shares of ATI by 3.0% during the fourth quarter. Pier 88 Investment Partners LLC now owns 7,620 shares of the basic materials company’s stock worth $419,000 after purchasing an additional 220 shares during the period.

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.