ATI (NYSE:ATI) Sets New 1-Year High on Earnings Beat

ATI Inc. (NYSE:ATI)’s stock price reached a new 52-week high during mid-day trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $59.82 and last traded at $59.20, with a volume of 696119 shares traded. The stock had previously closed at $51.90.

The basic materials company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.07. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. ATI had a return on equity of 23.72% and a net margin of 8.70%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.49 earnings per share.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ATI in a report on Thursday, April 11th. They set a “buy” rating and a $70.00 price target on the stock. TheStreet upgraded ATI from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Finally, KeyCorp raised their price objective on ATI from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. One equities 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, ATI presently has a consensus rating of “Moderate Buy” and an average target price of $56.00.

Insider Buying and Selling at ATI

In other news, VP Timothy J. Harris sold 6,325 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $42.44, for a total value of $268,433.00. Following the transaction, the vice president now directly owns 109,331 shares of the company’s stock, valued at approximately $4,640,007.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.71% of the company’s stock.

Institutional Trading of ATI

Several large investors have recently modified their holdings of the stock. Clearstead Advisors LLC boosted its stake in 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 acquiring an additional 500 shares in the last quarter. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of ATI in the 1st quarter valued at about $51,000. Covestor Ltd increased its position in ATI by 73.1% in the 3rd quarter. Covestor Ltd now owns 1,044 shares of the basic materials company’s stock valued at $43,000 after buying an additional 441 shares in the last quarter. GAMMA Investing LLC acquired a new position in ATI during the 4th quarter worth approximately $58,000. Finally, Edmond DE Rothschild Holding S.A. raised its stake in ATI by 211.5% during the 4th 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 period.

ATI Trading Down 1.4 %

The firm has a market cap of $7.32 billion, a P/E ratio of 23.63, a price-to-earnings-growth ratio of 1.69 and a beta of 1.16. The firm has a fifty day simple moving average of $50.03 and a 200-day simple moving average of $44.91. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.81 and a quick ratio of 1.53.

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.