Barclays Increases ATI (NYSE:ATI) Price Target to $70.00

ATI (NYSE:ATI) had its price objective hoisted by investment analysts at Barclays from $55.00 to $70.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the basic materials company’s stock. Barclays‘s price target points to a potential upside of 17.02% from the company’s current price.

A number of other research firms also recently weighed in on ATI. KeyCorp raised their price target on shares of ATI from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. TheStreet upgraded shares of ATI from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of ATI in a research note on Thursday, April 11th. They issued a “buy” rating and a $70.00 target price on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.17.

ATI Stock Up 1.3 %

ATI stock opened at $59.82 on Monday. ATI has a 12-month low of $34.10 and a 12-month high of $61.58. The company has a quick ratio of 1.37, a current ratio of 2.81 and a debt-to-equity ratio of 1.56. The company has a market cap of $7.44 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 1.50 and a beta of 1.17. The company has a 50 day moving average of $51.21 and a two-hundred day moving average of $45.67.

ATI (NYSE:ATI) last released its earnings results on Tuesday, April 30th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. ATI had a net margin of 8.70% and a return on equity of 23.72%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $0.49 EPS. The company’s revenue was up .5% compared to the same quarter last year. On average, equities analysts anticipate that ATI will post 2.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ATI news, VP Timothy J. Harris sold 6,325 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.44, for a total value of $268,433.00. Following the completion of the transaction, the vice president now directly owns 109,331 shares of the company’s stock, valued at $4,640,007.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.05% of the company’s stock.

Hedge Funds Weigh In On ATI

A number of institutional investors have recently modified their holdings of ATI. Clearstead Advisors LLC raised its stake in shares of ATI by 295.9% during the third quarter. Clearstead Advisors LLC now owns 669 shares of the basic materials company’s stock worth $28,000 after buying an additional 500 shares during the last quarter. Benjamin F. Edwards & Company Inc. bought a new stake in shares of ATI during the first quarter worth approximately $51,000. Covestor Ltd raised its stake in shares of ATI by 73.1% during the third quarter. Covestor Ltd now owns 1,044 shares of the basic materials company’s stock worth $43,000 after buying an additional 441 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of ATI during the fourth quarter worth approximately $58,000. Finally, Edmond DE Rothschild Holding S.A. raised its stake in shares of ATI by 211.5% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 2,651 shares of the basic materials company’s stock worth $121,000 after buying an additional 1,800 shares during 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.