A number of firms have modified their ratings and price targets on shares of Allegheny Technologies (NYSE: ATI) recently:

  • 8/7/2017 – Allegheny Technologies was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Allegheny swung to a profit in second-quarter 2017, supported by higher sales across the board. Both earnings and sales beat the respective Zacks Consensus Estimate. Allegheny should benefit from its diversified global growth markets as well as cost reduction and restructuring measures. The company is seeing healthy demand from aerospace OEMs which should spur growth. However, Allegheny has underperformed the industry it belongs to over the past six months. Allegheny remains exposed to certain challenges in its core Flat Rolled Products segment including weakness across some major end-use markets. Depressed oil prices are also expected to hurt demand for Allegheny's products in the oil and gas market in the short haul.”
  • 8/2/2017 – Allegheny Technologies was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 7/27/2017 – Allegheny Technologies was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/26/2017 – Allegheny Technologies was upgraded by analysts at J P Morgan Chase & Co from an “underweight” rating to a “neutral” rating. They now have a $19.00 price target on the stock, up previously from $14.50.
  • 7/17/2017 – Allegheny Technologies was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Annual estimates for Allegheny have been going down lately. Allegheny has underperformed the Steel-Specialty Alloys industry over the past three months. The company remains exposed to certain challenges in its core Flat Rolled Products segment including weakness across some major end-use markets. Depressed oil prices are also expected to hurt demand for Allegheny's products in the oil and gas market in the short haul.”
  • 7/1/2017 – Allegheny Technologies was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 6/20/2017 – Allegheny Technologies was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 6/13/2017 – Allegheny Technologies was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.

Shares of Allegheny Technologies Incorporated (NYSE ATI) traded up 2.21% on Monday, reaching $18.96. 1,175,309 shares of the company traded hands. The firm has a 50-day moving average price of $17.40 and a 200 day moving average price of $17.91. Allegheny Technologies Incorporated has a one year low of $13.15 and a one year high of $23.69. The company’s market capitalization is $2.06 billion.

Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.02. Allegheny Technologies had a positive return on equity of 0.08% and a negative net margin of 14.89%. The firm had revenue of $880.20 million for the quarter, compared to analysts’ expectations of $874.95 million. During the same period in the previous year, the firm earned ($0.21) EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. Equities analysts forecast that Allegheny Technologies Incorporated will post ($1.00) EPS for the current fiscal year.

Allegheny Technologies Incorporated is a manufacturer of specialty materials and complex components. The Company operates through two business segments: High Performance Materials & Components (HPMC), and Flat Rolled Products (FRP). The HPMC segment produces, converts and distributes a range of materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, zirconium and related alloys, including hafnium and niobium, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, plus precision forgings, castings, components and machined parts.

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