ATI (NYSE:ATI) Coverage Initiated at KeyCorp

Equities research analysts at KeyCorp assumed coverage on shares of ATI (NYSE:ATI) in a research report issued on Wednesday. The brokerage set an “overweight” rating and a $140.00 price target on the basic materials company’s stock. KeyCorp’s price target would suggest a potential downside of 2.72% from the stock’s current price.

Several other brokerages have also recently issued reports on ATI. BTIG Research increased their price objective on ATI from $120.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. Zacks Research upgraded shares of ATI from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. Susquehanna set a $155.00 target price on shares of ATI in a research report on Wednesday, February 4th. Weiss Ratings restated a “buy (b-)” rating on shares of ATI in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. upped their price objective on shares of ATI from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company’s stock. According to data from MarketBeat, ATI has an average rating of “Buy” and a consensus price target of $134.00.

ATI Stock Performance

Shares of ATI stock opened at $143.91 on Wednesday. The firm has a market cap of $19.64 billion, a P/E ratio of 50.67, a P/E/G ratio of 1.47 and a beta of 0.95. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.27 and a current ratio of 2.66. ATI has a one year low of $39.23 and a one year high of $168.14. The firm’s 50 day moving average price is $142.41 and its 200-day moving average price is $112.78.

ATI (NYSE:ATI) last released its quarterly earnings results on Tuesday, February 3rd. The basic materials company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. ATI had a return on equity of 24.26% and a net margin of 8.81%.The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the prior year, the firm earned $0.79 earnings per share. The firm’s revenue was up .4% compared to the same quarter last year. ATI has set its FY 2026 guidance at 3.990-4.270 EPS and its Q1 2026 guidance at 0.830-0.890 EPS. As a group, equities research analysts predict that ATI will post 2.89 EPS for the current year.

ATI announced that its board has approved a share buyback program on Thursday, February 19th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the basic materials company to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity

In related news, Director David J. Morehouse sold 6,609 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $154.25, for a total value of $1,019,438.25. Following the sale, the director directly owned 38,168 shares in the company, valued at $5,887,414. The trade was a 14.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On ATI

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada lifted its holdings in ATI by 8.1% in the 1st quarter. Royal Bank of Canada now owns 60,369 shares of the basic materials company’s stock valued at $3,140,000 after purchasing an additional 4,542 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in ATI by 49.4% in the first quarter. Goldman Sachs Group Inc. now owns 633,948 shares of the basic materials company’s stock valued at $32,984,000 after acquiring an additional 209,480 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of ATI in the 2nd quarter valued at about $324,000. MAI Capital Management lifted its position in ATI by 38.6% during the second quarter. MAI Capital Management now owns 869 shares of the basic materials company’s stock valued at $75,000 after buying an additional 242 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in ATI by 2.1% during the 2nd quarter. Rhumbline Advisers now owns 370,012 shares of the basic materials company’s stock worth $31,947,000 after purchasing an additional 7,480 shares during the period.

About ATI

Allegheny Technologies Incorporated (ATI) is a global manufacturer of specialty materials and complex components, serving aerospace, defense, oil and gas, chemical processing, medical and other industrial end markets. The company operates through two main segments: High Performance Materials & Components, which produces titanium and nickel-based alloys, stainless and specialty steels, and precision forgings; and Flat-Rolled Products, which supplies stainless steel, nickel and specialty alloy sheet, strip and precision-rolled plate.