ATI (NYSE:ATI) Issues Q2 Earnings Guidance

ATI (NYSE:ATI) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.54-0.60 for the period, compared to the consensus EPS estimate of $0.52. ATI also updated its FY 2024 guidance to 2.300-2.600 EPS.

Analysts Set New Price Targets

ATI has been the topic of several analyst reports. KeyCorp boosted their price objective on ATI from $56.00 to $58.00 and gave the stock an overweight rating in a research note on Monday, April 22nd. Deutsche Bank Aktiengesellschaft began coverage on ATI in a research note on Thursday, April 11th. They issued a buy rating and a $70.00 target price on the stock. Finally, TheStreet raised shares of ATI from a c+ rating to a b- rating in a research note on Friday, January 26th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $56.00.

ATI Stock Performance

ATI stock traded up $8.98 during midday trading on Tuesday, reaching $60.88. The stock had a trading volume of 2,871,010 shares, compared to its average volume of 1,308,239. The firm has a fifty day simple moving average of $49.73 and a two-hundred day simple moving average of $44.75. ATI has a 52-week low of $34.10 and a 52-week high of $61.58. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.53 and a current ratio of 2.80. The stock has a market cap of $7.58 billion, a PE ratio of 23.47, a P/E/G ratio of 1.46 and a beta of 1.22.

ATI (NYSE:ATI) last announced its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. ATI had a return on equity of 24.64% and a net margin of 8.81%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the business posted $0.53 earnings per share. As a group, equities research analysts anticipate that ATI will post 2.26 EPS for the current year.

Insiders Place Their Bets

In other news, VP Timothy J. Harris sold 6,325 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 109,331 shares of the company’s stock, valued at approximately $4,640,007.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.05% of the stock is currently owned by insiders.

ATI Company Profile

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.