ATI (NYSE:ATI) Sets New 1-Year High – Time to Buy?

ATI Inc. (NYSE:ATI)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $86.46 and last traded at $86.16, with a volume of 59625 shares. The stock had previously closed at $85.68.

Analyst Ratings Changes

ATI has been the topic of a number of recent research reports. Citigroup upgraded shares of ATI to a “positive” rating in a report on Tuesday, May 20th. BTIG Research set a $105.00 price target on shares of ATI and gave the stock a “buy” rating in a report on Wednesday, May 28th. Benchmark reiterated a “buy” rating and set a $81.00 price target on shares of ATI in a report on Monday, April 21st. Finally, KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Tuesday, May 20th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, ATI has a consensus rating of “Moderate Buy” and a consensus target price of $78.29.

ATI Trading Up 1.4%

The firm has a market cap of $12.25 billion, a price-to-earnings ratio of 31.46, a price-to-earnings-growth ratio of 1.22 and a beta of 1.14. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.53 and a quick ratio of 1.30. The firm’s fifty day moving average is $74.09 and its 200-day moving average is $61.54.

ATI (NYSE:ATI) last released its earnings results on Thursday, May 1st. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.07 billion. ATI had a net margin of 8.93% and a return on equity of 21.37%. ATI’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 earnings per share. Equities analysts anticipate that ATI Inc. will post 2.89 earnings per share for the current year.

Insider Activity at ATI

In related news, Chairman Robert S. Wetherbee sold 50,000 shares of the business’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $83.93, for a total value of $4,196,500.00. Following the transaction, the chairman now owns 356,538 shares in the company, valued at $29,924,234.34. The trade was a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 195,359 shares of company stock worth $15,103,486 over the last quarter. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On ATI

Several hedge funds and other institutional investors have recently bought and sold shares of ATI. Capital World Investors increased its stake in ATI by 100.5% in the fourth quarter. Capital World Investors now owns 6,875,576 shares of the basic materials company’s stock valued at $378,432,000 after purchasing an additional 3,446,919 shares in the last quarter. Dendur Capital LP increased its stake in ATI by 601.7% in the fourth quarter. Dendur Capital LP now owns 3,567,000 shares of the basic materials company’s stock valued at $196,328,000 after purchasing an additional 3,058,628 shares in the last quarter. Vanguard Group Inc. increased its stake in ATI by 15.2% in the fourth quarter. Vanguard Group Inc. now owns 15,335,409 shares of the basic materials company’s stock valued at $844,061,000 after purchasing an additional 2,020,313 shares in the last quarter. Norges Bank bought a new stake in ATI in the fourth quarter valued at $85,047,000. Finally, Forest Avenue Capital Management LP bought a new stake in ATI in the first quarter valued at $44,867,000.

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.