ATI (NYSE:ATI – Get Free Report) updated its second quarter 2024 earnings guidance on Tuesday. The company provided EPS guidance of 0.540-0.600 for the period, compared to the consensus EPS estimate of 0.520. The company issued revenue guidance of -. ATI also updated its FY 2024 guidance to 2.300-2.600 EPS.
Analysts Set New Price Targets
ATI has been the subject of several recent research reports. KeyCorp upped their price target on ATI from $56.00 to $58.00 and gave the company an overweight rating in a report on Monday, April 22nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ATI in a research note on Thursday, April 11th. They set a buy rating and a $70.00 price target on the stock. Finally, TheStreet raised shares of ATI from a c+ rating to a b- rating in a report on Friday, January 26th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, ATI has an average rating of Moderate Buy and an average target price of $56.00.
Read Our Latest Research Report on ATI
ATI Trading Up 16.6 %
ATI (NYSE:ATI – Get Free Report) last released its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. ATI had a return on equity of 24.64% and a net margin of 8.81%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.53 earnings per share. On average, equities research analysts forecast that ATI will post 2.26 earnings per share for the current year.
Insider Activity at ATI
In other ATI news, VP Timothy J. Harris sold 6,325 shares of ATI stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $42.44, for a total value of $268,433.00. Following the transaction, the vice president now 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 accessible through this link. 1.05% of the stock is owned by insiders.
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.
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