Allegheny Technologies Upgraded to “Neutral” by Zacks (ATI)
Allegheny Technologies (NYSE:ATI) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a note issued to investors on Wednesday, Analyst Ratings Network reports. The firm currently has a $32.00 price target on the stock. Zacks‘ price objective would suggest a potential upside of 6.45% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at KeyCorp raised their price target on shares of Allegheny Technologies from $36.00 to $38.00 in a research note to investors on Wednesday, September 18th. They now have a “buy” rating on the stock. Separately, analysts at Citigroup Inc. downgraded shares of Allegheny Technologies 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 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. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. Allegheny Technologies currently has a consensus rating of “Hold” and a consensus price target of $31.18.
Allegheny Technologies (NYSE:ATI) traded down 0.07% on Wednesday, hitting $30.04. The stock had a trading volume of 470,200 shares. Allegheny Technologies has a one year low of $25.35 and a one year high of $34.18. The stock’s 50-day moving average is $29.14 and its 200-day moving average is $28.30. The company has a market cap of $3.243 billion and a P/E ratio of 53.11.
Allegheny Technologies (NYSE:ATI) last released its earnings data on Wednesday, July 24th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters 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 in the prior year, the company posted $0.50 earnings per share. The company’s quarterly revenue was down 16.3% on a year-over-year basis. On average, analysts predict that Allegheny Technologies will post $0.21 earnings per share for the current fiscal year.
Allegheny Technologies Incorporated (NYSE:ATI) is a diversified specialty metals producer.
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