Allegheny Technologies Incorporated (NYSE:ATI) – Seaport Global Securities decreased their Q1 2020 earnings per share (EPS) estimates for shares of Allegheny Technologies in a research report issued to clients and investors on Tuesday, November 5th. Seaport Global Securities analyst J. Sullivan now anticipates that the basic materials company will earn $0.49 per share for the quarter, down from their prior forecast of $0.62. Seaport Global Securities also issued estimates for Allegheny Technologies’ Q2 2020 earnings at $0.55 EPS.
Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.45. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Allegheny Technologies had a return on equity of 7.38% and a net margin of 5.85%. Allegheny Technologies’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.37 earnings per share.
ATI has been the subject of several other reports. ValuEngine raised Allegheny Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Cowen reaffirmed a “buy” rating and set a $32.00 price objective on shares of Allegheny Technologies in a research report on Monday, August 12th. Barclays reaffirmed a “buy” rating and set a $31.00 price objective on shares of Allegheny Technologies in a research report on Wednesday, July 31st. Buckingham Research reduced their price objective on Allegheny Technologies from $27.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. Finally, Goldman Sachs Group raised Allegheny Technologies from a “neutral” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $27.25.
Shares of ATI stock traded down $0.09 on Friday, hitting $23.70. 1,180,497 shares of the stock were exchanged, compared to its average volume of 1,599,764. The company has a current ratio of 3.17, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $2.98 billion, a P/E ratio of 15.70, a price-to-earnings-growth ratio of 1.25 and a beta of 2.29. The business has a 50-day moving average of $20.61 and a 200 day moving average of $22.03. Allegheny Technologies has a fifty-two week low of $17.03 and a fifty-two week high of $29.50.
A number of large investors have recently added to or reduced their stakes in the business. River Road Asset Management LLC bought a new stake in Allegheny Technologies in the third quarter valued at approximately $10,685,000. D.A. Davidson & CO. raised its stake in Allegheny Technologies by 10.2% in the third quarter. D.A. Davidson & CO. now owns 31,570 shares of the basic materials company’s stock valued at $639,000 after buying an additional 2,935 shares during the period. BBVA USA Bancshares Inc. raised its stake in Allegheny Technologies by 80.1% in the third quarter. BBVA USA Bancshares Inc. now owns 69,080 shares of the basic materials company’s stock valued at $1,399,000 after buying an additional 30,728 shares during the period. Boston Advisors LLC raised its stake in Allegheny Technologies by 53.4% in the third quarter. Boston Advisors LLC now owns 70,179 shares of the basic materials company’s stock valued at $1,421,000 after buying an additional 24,429 shares during the period. Finally, Mengis Capital Management Inc. raised its stake in Allegheny Technologies by 1.0% in the third quarter. Mengis Capital Management Inc. now owns 84,434 shares of the basic materials company’s stock valued at $1,709,000 after buying an additional 846 shares during the period.
In related news, insider Robert S. Wetherbee purchased 5,000 shares of Allegheny Technologies stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average cost of $18.36 per share, with a total value of $91,800.00. Following the completion of the transaction, the insider now owns 113,335 shares of the company’s stock, valued at approximately $2,080,830.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Elliot S. Davis purchased 2,000 shares of Allegheny Technologies stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average cost of $17.53 per share, with a total value of $35,060.00. Following the completion of the transaction, the senior vice president now directly owns 6,530 shares of the company’s stock, valued at approximately $114,470.90. The disclosure for this purchase can be found here. Insiders have purchased 12,400 shares of company stock valued at $222,680 over the last three months. Insiders own 1.06% of the company’s stock.
About Allegheny Technologies
Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates through two segments, High Performance Materials & Components, and Flat-Rolled Products. The High Performance Materials & Components segment produces high performance materials, including titanium and titanium-based alloys; nickel-and cobalt-based alloys and superalloys; zirconium and related alloys, such as hafnium and niobium; powder alloys; and other specialty materials in long product forms of ingots, billets, bars, rods, wires, and shapes and rectangles, as well as seamless tubes, plus precision forgings, castings, components, and machined parts.
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