Allegheny Technologies Incorporated (NYSE:ATI) received a $17.00 price objective from investment analysts at Berenberg Bank in a research report issued on Thursday. The brokerage presently has a “hold” rating on the basic materials company’s stock. Berenberg Bank’s price target would suggest a potential downside of 30.95% from the company’s previous close.

Several other equities analysts have also weighed in on ATI. BidaskClub raised shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Cowen and Company reaffirmed a “hold” rating and set a $18.00 target price on shares of Allegheny Technologies in a report on Thursday, October 12th. Zacks Investment Research raised shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a report on Monday, August 7th. KeyCorp reaffirmed a “hold” rating on shares of Allegheny Technologies in a report on Wednesday, October 11th. Finally, Longbow Research reaffirmed a “buy” rating and set a $24.00 target price on shares of Allegheny Technologies in a report on Wednesday, August 23rd. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Allegheny Technologies has a consensus rating of “Hold” and an average price target of $20.57.

Shares of Allegheny Technologies (NYSE:ATI) traded up 2.33% during mid-day trading on Thursday, reaching $24.62. 1,105,894 shares of the company’s stock were exchanged. The company’s market capitalization is $2.68 billion. Allegheny Technologies has a one year low of $13.15 and a one year high of $25.51. The company’s 50-day moving average price is $23.35 and its 200-day moving average price is $18.98.

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

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A number of hedge funds and other institutional investors have recently modified their holdings of ATI. UBS Asset Management Americas Inc. increased its holdings in Allegheny Technologies by 2.5% in the 1st quarter. UBS Asset Management Americas Inc. now owns 96,714 shares of the basic materials company’s stock worth $1,737,000 after acquiring an additional 2,347 shares in the last quarter. Prudential Financial Inc. increased its holdings in Allegheny Technologies by 6.9% in the 1st quarter. Prudential Financial Inc. now owns 72,342 shares of the basic materials company’s stock worth $1,299,000 after acquiring an additional 4,670 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Allegheny Technologies by 15.2% in the 1st quarter. Alliancebernstein L.P. now owns 163,730 shares of the basic materials company’s stock worth $2,941,000 after acquiring an additional 21,600 shares in the last quarter. OppenheimerFunds Inc. increased its holdings in Allegheny Technologies by 17.6% in the 1st quarter. OppenheimerFunds Inc. now owns 45,366 shares of the basic materials company’s stock worth $815,000 after acquiring an additional 6,804 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Allegheny Technologies by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 439,346 shares of the basic materials company’s stock worth $7,891,000 after acquiring an additional 8,755 shares in the last quarter.

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.

Analyst Recommendations for Allegheny Technologies (NYSE:ATI)

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