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Equities researchers at Northcoast Research initiated coverage on shares of Allegheny Technologies (NYSE:ATI) in a research report issued on Tuesday, reports. The firm set a “buy” rating and a $54.00 price target on the stock. Northcoast Research’s target price indicates a potential upside of 17.04% from the company’s current price.

Shares of Allegheny Technologies (NYSE:ATI) traded down 0.04% on Tuesday, hitting $46.12. The stock had a trading volume of 308,460 shares. Allegheny Technologies has a 52 week low of $25.60 and a 52 week high of $46.32. The stock’s 50-day moving average is $42.08 and its 200-day moving average is $37.45. The company has a market cap of $5.007 billion and a price-to-earnings ratio of 39.95.

Allegheny Technologies (NYSE:ATI) last announced its earnings results on Tuesday, April 22nd. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by $0.10. The company had revenue of $98.00 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. Analysts expect that Allegheny Technologies will post $0.38 EPS for the current fiscal year.

ATI has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Allegheny Technologies in a research note on Thursday, July 3rd. They now have a $43.00 price target on the stock, up previously from $41.00. Separately, analysts at Cowen and Company raised their price target on shares of Allegheny Technologies from $35.00 to $48.00 in a research note on Tuesday, July 1st. Finally, analysts at Stifel Nicolaus raised their price target on shares of Allegheny Technologies from $45.00 to $50.00 in a research note on Monday, June 30th. They now have a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $41.83.

Allegheny Technologies Incorporated (NYSE:ATI) is a diversified specialty metals producer.

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