Shares of Allegheny Technologies Incorporated (NYSE:ATI) have been given a consensus recommendation of “Hold” by the eleven ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $26.50.
ATI has been the topic of several recent research reports. Berenberg Bank set a $17.00 target price on shares of Allegheny Technologies and gave the company a “hold” rating in a research note on Thursday, October 19th. Cowen reaffirmed a “hold” rating and issued a $23.00 target price on shares of Allegheny Technologies in a research note on Tuesday, December 12th. Zacks Investment Research lowered shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a research note on Monday, January 15th. KeyCorp reaffirmed a “hold” rating on shares of Allegheny Technologies in a research note on Thursday, November 16th. Finally, Buckingham Research raised their target price on shares of Allegheny Technologies from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 26th.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Verition Fund Management LLC acquired a new stake in shares of Allegheny Technologies in the second quarter valued at approximately $281,000. Frontier Capital Management Co. LLC raised its holdings in shares of Allegheny Technologies by 35.7% in the fourth quarter. Frontier Capital Management Co. LLC now owns 7,848,107 shares of the basic materials company’s stock valued at $189,453,000 after purchasing an additional 2,065,137 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Allegheny Technologies by 5.4% in the third quarter. Schwab Charles Investment Management Inc. now owns 615,119 shares of the basic materials company’s stock valued at $14,702,000 after purchasing an additional 31,373 shares during the last quarter. Fernwood Investment Management LLC bought a new position in shares of Allegheny Technologies in the third quarter valued at $213,000. Finally, Alpha Windward LLC bought a new position in shares of Allegheny Technologies in the third quarter valued at $595,000. Institutional investors own 96.18% of the company’s stock.
Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings data on Tuesday, January 23rd. The basic materials company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. The firm had revenue of $909.90 million for the quarter, compared to analyst estimates of $898.22 million. Allegheny Technologies had a negative net margin of 2.61% and a positive return on equity of 3.47%. The company’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.04) EPS. analysts expect that Allegheny Technologies will post 1.23 EPS for the current year.
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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.
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