Credit Suisse Increases Allegheny Technologies Price Target to $34.00 (ATI)
Research analysts at Credit Suisse lifted their price objective on shares of Allegheny Technologies (NYSE:ATI) from $27.00 to $34.00 in a report released on Thursday, AnalystRatings.Net reports. The firm currently has a “neutral” rating on the stock. Credit Suisse’s price objective suggests a potential upside of 1.28% from the company’s current price.
Allegheny Technologies (NYSE:ATI) traded up 0.45% during mid-day trading on Thursday, hitting $33.57. 2,273,238 shares of the company’s stock traded hands. Allegheny Technologies has a one year low of $25.35 and a one year high of $36.59. The stock has a 50-day moving average of $27.63 and a 200-day moving average of $28.41. The company has a market cap of $3.624 billion and a P/E ratio of 59.05.
Allegheny Technologies (NYSE:ATI) last released its earnings data on Wednesday, October 23rd. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.03. The company had revenue of $972.00 million for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was down 14.1% on a year-over-year basis. Analysts expect that Allegheny Technologies will post $-0.27 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Sterne Agee initiated coverage on shares of Allegheny Technologies in a research note to investors on Wednesday, October 16th. They set an “underperform” rating and a $32.03 price target on the stock. Separately, analysts at Zacks upgraded shares of Allegheny Technologies from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, October 9th. They now have a $32.00 price target on the stock. Finally, 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. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $31.50.
Allegheny Technologies Incorporated (NYSE:ATI) is a diversified specialty metals producer.
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