Allegheny Technologies Incorporated (NYSE:ATI)‘s stock had its “hold” rating reaffirmed by stock analysts at KeyCorp in a research report issued to clients and investors on Wednesday.

Other research analysts also recently issued reports about the stock. Bank of America Corporation upgraded shares of Allegheny Technologies from an “underperform” rating to a “buy” rating and increased their price target for the stock from $16.00 to $24.00 in a research report on Monday, September 11th. Longbow Research reiterated a “buy” rating and issued a $24.00 price target on shares of Allegheny Technologies in a research report on Wednesday, August 23rd. Cowen and Company reiterated a “hold” rating and issued a $18.00 price target on shares of Allegheny Technologies in a research report on Thursday. Zacks Investment Research upgraded shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Finally, BidaskClub upgraded shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $20.60.

Shares of Allegheny Technologies (ATI) traded up 2.45% during midday trading on Wednesday, reaching $24.63. 2,156,863 shares of the company’s stock were exchanged. Allegheny Technologies has a one year low of $13.15 and a one year high of $25.51. The stock’s market cap is $2.68 billion. The firm has a 50 day moving average of $22.56 and a 200-day moving average of $18.64.

Allegheny Technologies (NYSE:ATI) last issued its earnings results on Tuesday, July 25th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, topping 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 company had revenue of $880.20 million for the quarter, compared to analysts’ expectations of $874.95 million. During the same quarter last year, the company posted ($0.21) earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities research analysts anticipate that Allegheny Technologies will post ($1.00) earnings per share for the current year.

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Several hedge funds have recently made changes to their positions in the company. Amalgamated Bank raised its position in shares of Allegheny Technologies by 1.2% during the 2nd quarter. Amalgamated Bank now owns 15,449 shares of the basic materials company’s stock valued at $263,000 after purchasing an additional 186 shares during the period. Oppenheimer Asset Management Inc. raised its position in shares of Allegheny Technologies by 2.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 9,587 shares of the basic materials company’s stock valued at $163,000 after purchasing an additional 201 shares during the period. Advantus Capital Management Inc raised its position in shares of Allegheny Technologies by 2.9% during the 1st quarter. Advantus Capital Management Inc now owns 13,926 shares of the basic materials company’s stock valued at $250,000 after purchasing an additional 388 shares during the period. Prudential Financial Inc. raised its position in shares of Allegheny Technologies by 0.9% during the 2nd quarter. Prudential Financial Inc. now owns 73,002 shares of the basic materials company’s stock valued at $1,242,000 after purchasing an additional 660 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of Allegheny Technologies by 2.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 34,220 shares of the basic materials company’s stock valued at $614,000 after purchasing an additional 691 shares during the period.

About Allegheny Technologies

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.

Analyst Recommendations for Allegheny Technologies (NYSE:ATI)

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