ATI (NYSE:ATI – Get Free Report)‘s stock had its “buy” rating restated by research analysts at Benchmark in a note issued to investors on Monday,Benzinga reports. They presently have a $81.00 price target on the basic materials company’s stock. Benchmark’s price objective points to a potential upside of 77.52% from the stock’s current price.
Several other equities research analysts have also weighed in on ATI. Susquehanna increased their price objective on shares of ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a research note on Wednesday, February 5th. StockNews.com upgraded ATI from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Barclays boosted their price objective on ATI from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.00.
ATI Stock Performance
ATI (NYSE:ATI – Get Free Report) last issued its earnings results on Tuesday, February 4th. The basic materials company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.60 by $0.19. ATI had a return on equity of 21.16% and a net margin of 8.43%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm earned $0.64 EPS. The business’s revenue was up 10.2% on a year-over-year basis. Equities analysts anticipate that ATI will post 2.89 earnings per share for the current fiscal year.
Insider Activity
In other news, SVP Tina Killough Busch sold 9,900 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $66.41, for a total value of $657,459.00. Following the completion of the transaction, the senior vice president now directly owns 25,994 shares in the company, valued at $1,726,261.54. This trade represents a 27.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.
Hedge Funds Weigh In On ATI
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its holdings in shares of ATI by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,915 shares of the basic materials company’s stock valued at $215,000 after buying an additional 192 shares during the period. Keystone Financial Group lifted its holdings in ATI by 5.3% in the 4th quarter. Keystone Financial Group now owns 3,950 shares of the basic materials company’s stock valued at $217,000 after acquiring an additional 200 shares during the last quarter. Pier 88 Investment Partners LLC boosted its position in shares of ATI by 3.0% during the 4th quarter. Pier 88 Investment Partners LLC now owns 7,620 shares of the basic materials company’s stock valued at $419,000 after purchasing an additional 220 shares in the last quarter. Hantz Financial Services Inc. grew its stake in shares of ATI by 2.1% in the 4th quarter. Hantz Financial Services Inc. now owns 11,680 shares of the basic materials company’s stock worth $643,000 after purchasing an additional 240 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of ATI by 20.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,729 shares of the basic materials company’s stock worth $95,000 after purchasing an additional 288 shares in the last quarter.
About ATI
ATI Inc produces and sells specialty materials and complex components worldwide. It operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, metallic powder alloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.
Further Reading
- Five stocks we like better than ATI
- EV Stocks and How to Profit from Them
- How to Invest in Micro-Cap Stocks Like a Pro
- 3 Grocery Stocks That Are Proving They Are Still Essential
- Investors Sell Microsoft Stock on OpenAI News—Time to Buy?
- Low PE Growth Stocks: Unlocking Investment Opportunities
- Take-Two Interactive: A Defensive Play Set to Explode
Receive News & Ratings for ATI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ATI and related companies with MarketBeat.com's FREE daily email newsletter.