Analysts Set ATI Inc. (NYSE:ATI) Price Target at $74.00

ATI Inc. (NYSE:ATI) has received an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $74.43.

A number of equities research analysts have recently weighed in on ATI shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Susquehanna initiated coverage on ATI in a research report on Thursday, September 5th. They issued a “positive” rating and a $75.00 target price for the company. Northcoast Research cut ATI from a “neutral” rating to a “sell” rating in a research note on Friday, June 14th. Finally, Benchmark reaffirmed a “buy” rating and issued a $80.00 price target on shares of ATI in a research note on Wednesday, August 7th.

ATI Trading Up 1.8 %

NYSE ATI opened at $65.09 on Tuesday. The stock has a market cap of $8.10 billion, a P/E ratio of 26.14, a price-to-earnings-growth ratio of 1.60 and a beta of 1.04. ATI has a fifty-two week low of $35.03 and a fifty-two week high of $68.92. The stock has a 50 day simple moving average of $63.46 and a two-hundred day simple moving average of $58.68. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.07 and a current ratio of 2.13.

ATI (NYSE:ATI) last announced its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. ATI had a return on equity of 23.05% and a net margin of 8.74%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 earnings per share. On average, analysts forecast that ATI will post 2.48 earnings per share for the current year.

ATI declared that its Board of Directors has initiated a share buyback plan on Tuesday, September 3rd that authorizes the company to buyback $700.00 million in shares. This buyback authorization authorizes the basic materials company to reacquire up to 9.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $61.61, for a total value of $1,540,250.00. Following the sale, the chairman now directly owns 511,443 shares of the company’s stock, valued at approximately $31,510,003.23. This represents a 0.00 % 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 0.71% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ATI. Quarry LP bought a new stake in shares of ATI during the second quarter valued at approximately $26,000. Benjamin F. Edwards & Company Inc. purchased a new stake in ATI during the 1st quarter valued at $51,000. EverSource Wealth Advisors LLC increased its holdings in shares of ATI by 294.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock worth $69,000 after purchasing an additional 1,010 shares in the last quarter. Quest Partners LLC bought a new stake in shares of ATI in the 2nd quarter worth $88,000. Finally, GAMMA Investing LLC raised its stake in shares of ATI by 46.5% in the first quarter. GAMMA Investing LLC now owns 1,868 shares of the basic materials company’s stock worth $96,000 after purchasing an additional 593 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.