Seaport Res Ptn Reiterates Buy Rating for ATI (NYSE:ATI)

Seaport Res Ptn reissued their buy rating on shares of ATI (NYSE:ATIGet Rating) in a research report report published on Saturday, PriceTargets.com reports.

Other analysts have also recently issued research reports about the company. StockNews.com upgraded ATI from a sell rating to a hold rating in a research report on Monday, October 24th. KeyCorp lifted their price target on ATI from $33.00 to $36.00 and gave the company an overweight rating in a report on Monday, December 5th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $33.20.

ATI Price Performance

ATI stock opened at $35.56 on Friday. ATI has a one year low of $17.71 and a one year high of $36.25. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.40 and a current ratio of 2.88. The business has a fifty day moving average of $31.05 and a two-hundred day moving average of $29.41. The company has a market cap of $4.60 billion, a P/E ratio of 323.30 and a beta of 1.21.

ATI (NYSE:ATIGet Rating) last released its quarterly earnings results on Wednesday, November 2nd. The basic materials company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.01. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $936.80 million. ATI had a return on equity of 28.25% and a net margin of 0.67%. The business’s revenue was up 42.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 EPS. As a group, analysts predict that ATI will post 1.99 earnings per share for the current fiscal year.

Insider Transactions at ATI

In other news, CEO Robert S. Wetherbee sold 15,000 shares of the business’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $30.23, for a total transaction of $453,450.00. Following the completion of the sale, the chief executive officer now owns 333,753 shares in the company, valued at approximately $10,089,353.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Robert S. Wetherbee sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $30.23, for a total transaction of $453,450.00. Following the transaction, the chief executive officer now directly owns 333,753 shares of the company’s stock, valued at approximately $10,089,353.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Elliot S. Davis sold 28,572 shares of the business’s stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $30.68, for a total value of $876,588.96. Following the transaction, the insider now directly owns 160,350 shares in the company, valued at $4,919,538. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On ATI

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Xponance Inc. acquired a new position in shares of ATI in the 4th quarter valued at approximately $234,000. Carnegie Capital Asset Management LLC acquired a new position in shares of ATI in the 4th quarter valued at approximately $209,000. Intrua Financial LLC acquired a new position in shares of ATI in the 4th quarter valued at approximately $264,000. Joule Financial LLC acquired a new position in shares of ATI in the 4th quarter valued at approximately $243,000. Finally, Insight Wealth Strategies LLC acquired a new position in shares of ATI in the 4th quarter valued at approximately $1,114,000.

About ATI

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ATI Inc manufactures and sells specialty materials and components worldwide. The company 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, 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.

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Analyst Recommendations for ATI (NYSE:ATI)

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