Allegheny Technologies Price Target Raised to $38.00 at KeyCorp (ATI)
Equities researchers at KeyCorp lifted their target price on shares of Allegheny Technologies (NYSE:ATI) from $36.00 to $38.00 in a research report issued on Wednesday, Stock Ratings Network reports. The firm currently has a “buy” rating on the stock. KeyCorp’s target price would suggest a potential upside of 19.23% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated an “underperform” rating on shares of Allegheny Technologies (NYSE:ATI) in a research note to investors on Tuesday, August 27th. They now have a $25.00 price target on the stock. Separately, analysts at Citigroup Inc. downgraded shares of Allegheny Technologies (NYSE:ATI) from a “hold” rating to a “sell” rating in a research note to investors on Thursday, July 25th. Finally, analysts at Davenport downgraded shares of Allegheny Technologies (NYSE:ATI) from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, July 25th. They now have a $26.00 price target on the stock, down previously from $40.00.
Three analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $30.55.
Allegheny Technologies (NYSE:ATI) traded up 3.17% during mid-day trading on Wednesday, hitting $31.87. 1,497,934 shares of the company’s stock traded hands. Allegheny Technologies has a 52 week low of $25.35 and a 52 week high of $34.22. The stock has a 50-day moving average of $27.9 and a 200-day moving average of $28.41. The company has a market cap of $3.440 billion and a price-to-earnings ratio of 54.58.
Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.04 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.14 by $0.10. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the company posted $0.50 earnings per share. Allegheny Technologies’s revenue was down 16.3% compared to the same quarter last year. Analysts expect that Allegheny Technologies will post $0.25 EPS for the current fiscal year.
Allegheny Technologies Incorporated (NYSE:ATI) is a diversified specialty metals producer.
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