Allegheny Technologies Incorporated (NYSE:ATI) – Stock analysts at Seaport Global Securities upped their Q2 2018 earnings per share (EPS) estimates for Allegheny Technologies in a research note issued to investors on Thursday. Seaport Global Securities analyst J. Sullivan now anticipates that the basic materials company will post earnings per share of $0.30 for the quarter, up from their previous estimate of $0.26. Seaport Global Securities also issued estimates for Allegheny Technologies’ Q4 2018 earnings at $0.34 EPS.

Allegheny Technologies (NYSE:ATI) last released its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.02. Allegheny Technologies had a negative net margin of 14.89% and a positive return on equity of 0.08%. The business had revenue of $880.20 million for the quarter, compared to the consensus estimate of $874.95 million. During the same period in the prior year, the company posted ($0.21) earnings per share. Allegheny Technologies’s revenue was up 8.6% compared to the same quarter last year.

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A number of other brokerages have also weighed in on ATI. Bank of America Corporation raised Allegheny Technologies from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $16.00 to $24.00 in a research report on Monday, September 11th. Longbow Research reissued a “buy” rating and issued a $24.00 price target on shares of Allegheny Technologies in a research report on Wednesday, August 23rd. J P Morgan Chase & Co raised Allegheny Technologies from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $14.50 to $19.00 in a research report on Wednesday, July 26th. BidaskClub lowered Allegheny Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, Zacks Investment Research raised Allegheny Technologies from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $20.65.

Allegheny Technologies (ATI) traded down 2.1354% during midday trading on Friday, hitting $24.6521. 1,043,532 shares of the stock were exchanged. Allegheny Technologies has a 1-year low of $13.15 and a 1-year high of $25.51. The company’s market capitalization is $2.68 billion. The company’s 50 day moving average is $21.96 and its 200 day moving average is $18.43.

Several institutional investors and hedge funds have recently modified their holdings of the company. Amalgamated Bank boosted its stake in shares of Allegheny Technologies by 1.2% in the second quarter. Amalgamated Bank now owns 15,449 shares of the basic materials company’s stock worth $263,000 after buying an additional 186 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Allegheny Technologies by 2.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 9,587 shares of the basic materials company’s stock worth $163,000 after buying an additional 201 shares during the last quarter. Advantus Capital Management Inc boosted its stake in shares of Allegheny Technologies by 2.9% in the first quarter. Advantus Capital Management Inc now owns 13,926 shares of the basic materials company’s stock worth $250,000 after buying an additional 388 shares during the last quarter. Mason Street Advisors LLC boosted its stake in shares of Allegheny Technologies by 1.1% in the first quarter. Mason Street Advisors LLC now owns 51,383 shares of the basic materials company’s stock worth $923,000 after buying an additional 544 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of Allegheny Technologies by 0.9% in the second quarter. Prudential Financial Inc. now owns 73,002 shares of the basic materials company’s stock worth $1,242,000 after buying an additional 660 shares during the last quarter. Hedge funds and other institutional investors own 96.61% of the company’s stock.

Allegheny Technologies Company Profile

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.

Earnings History and Estimates for Allegheny Technologies (NYSE:ATI)

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