Allegheny Technologies Incorporated (NYSE:ATI) – Seaport Global Securities reduced their Q1 2017 earnings estimates for Allegheny Technologies in a note issued to investors on Thursday. Seaport Global Securities analyst J. Sullivan now anticipates that the brokerage will post earnings of $0.04 per share for the quarter, down from their prior forecast of $0.07. Seaport Global Securities has a “Buy” rating and a $22.00 price target on the stock. Seaport Global Securities also issued estimates for Allegheny Technologies’ Q2 2017 earnings at $0.08 EPS, Q3 2017 earnings at $0.14 EPS, Q4 2017 earnings at $0.19 EPS and FY2017 earnings at $0.45 EPS.
ATI has been the topic of a number of other research reports. Berenberg Bank downgraded Allegheny Technologies from a “hold” rating to a “sell” rating and set a $16.10 price objective on the stock. in a research report on Thursday, February 2nd. Bank of America Corp downgraded Allegheny Technologies from a “buy” rating to an “underperform” rating and set a $16.00 price objective on the stock. in a research report on Friday, January 20th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $20.76.
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Shares of Allegheny Technologies (NYSE:ATI) opened at 17.56 on Monday. Allegheny Technologies has a one year low of $10.93 and a one year high of $23.69. The stock’s market capitalization is $1.91 billion. The firm has a 50 day moving average price of $19.79 and a 200 day moving average price of $17.61.
Allegheny Technologies (NYSE:ATI) last issued its earnings results on Tuesday, January 24th. The company reported ($0.04) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.07. Allegheny Technologies had a negative return on equity of 6.15% and a negative net margin of 20.45%. The business earned $796 million during the quarter, compared to analysts’ expectations of $800.11 million. During the same period in the prior year, the business earned ($0.56) EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year.
Large investors have recently bought and sold shares of the company. State Treasurer State of Michigan boosted its stake in Allegheny Technologies by 0.5% in the third quarter. State Treasurer State of Michigan now owns 43,900 shares of the company’s stock valued at $793,000 after buying an additional 200 shares during the period. Paradigm Capital Management Inc. NY boosted its stake in Allegheny Technologies by 1.1% in the third quarter. Paradigm Capital Management Inc. NY now owns 34,475 shares of the company’s stock valued at $623,000 after buying an additional 375 shares during the period. Baird Financial Group Inc. boosted its stake in Allegheny Technologies by 2.0% in the fourth quarter. Baird Financial Group Inc. now owns 21,902 shares of the company’s stock valued at $349,000 after buying an additional 422 shares during the period. LS Investment Advisors LLC boosted its stake in Allegheny Technologies by 7.7% in the third quarter. LS Investment Advisors LLC now owns 7,499 shares of the company’s stock valued at $136,000 after buying an additional 533 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its stake in Allegheny Technologies by 1.8% in the third quarter. Oppenheimer & Co. Inc. now owns 35,955 shares of the company’s stock valued at $650,000 after buying an additional 650 shares during the period. 97.20% of the stock is owned by institutional investors.
Allegheny Technologies Company Profile
Allegheny Technologies Incorporated (ATI) is a specialty materials and components producer. The Company operates through two business segments: High Performance Materials & Components and Flat Rolled Products. ATI’s products include titanium and titanium alloys, nickel-based alloys and specialty steels, precision forgings, castings and machined components, zirconium and related alloys, precision and engineered stainless steel strip, and grain-oriented electrical steel.
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