RTI International Metals Trading 12.1% Higher After Strong Earnings (RTI)
RTI International Metals (NYSE:RTI) shares traded up 12.1% during mid-day trading on Tuesday following a better than expected earnings announcement, American Banking & Market News reports. The company traded as high as $28.19 and last traded at $27.63, with a volume of 403,807 shares. The stock had previously closed at $24.64.
The company reported $0.23 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.17 by $0.06. The company had revenue of $205.30 million for the quarter, compared to the consensus estimate of $196.11 million. During the same quarter last year, the company posted $0.05 earnings per share. RTI International Metals’s revenue was up 3.1% compared to the same quarter last year.
A number of analysts have recently weighed in on RTI shares. Analysts at Zacks upgraded shares of RTI International Metals from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 8th. They now have a $28.60 price target on the stock. Separately, analysts at Cleveland Research upgraded shares of RTI International Metals from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 5th. Finally, analysts at JPMorgan Chase & Co. upgraded shares of RTI International Metals from a “neutral” rating to an “overweight” rating in a research note on Friday, May 23rd. They now have a $34.00 price target on the stock, up previously from $32.00. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $35.40.
The stock’s 50-day moving average is $26.07 and its 200-day moving average is $27.44. The company has a market cap of $850.6 million and a P/E ratio of 154.97.
RTI International Metals, Inc (NYSE:RTI) is a producer and global supplier of advanced titanium mill products, and a manufacturer of fabricated titanium and specialty metal components for the national and international aerospace, defense, energy, and industrial and consumer markets.
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