ATI (NYSE:ATI) Sets New 12-Month High at $59.82

ATI Inc. (NYSE:ATI) reached a new 52-week high during trading on Tuesday . The stock traded as high as $59.82 and last traded at $59.20, with a volume of 696119 shares traded. The stock had previously closed at $51.90.

Wall Street Analysts Forecast Growth

ATI has been the subject of several analyst reports. TheStreet upgraded ATI from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. KeyCorp increased their price target on ATI from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of ATI in a research report on Thursday, April 11th. They issued a “buy” rating and a $70.00 target price for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.00.

ATI Price Performance

The company has a 50 day moving average of $49.73 and a two-hundred day moving average of $44.75. The firm has a market cap of $7.59 billion, a P/E ratio of 23.47, a PEG ratio of 1.46 and a beta of 1.22. The company has a quick ratio of 1.53, a current ratio of 2.80 and a debt-to-equity ratio of 1.45.

ATI (NYSE:ATI) last posted its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. ATI had a net margin of 8.81% and a return on equity of 24.64%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the firm posted $0.53 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Sell-side analysts expect that ATI Inc. 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 stock in a transaction on Monday, February 12th. The stock was sold at an average price of $42.44, for a total transaction of $268,433.00. Following the completion of the sale, the vice president now owns 109,331 shares in the company, valued at approximately $4,640,007.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.05% of the stock is currently owned by company insiders.

Institutional Trading of ATI

Hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in shares of ATI by 0.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 84,050 shares of the basic materials company’s stock valued at $3,822,000 after acquiring an additional 216 shares during the period. First Trust Direct Indexing L.P. raised its stake in ATI by 4.3% during the 1st quarter. First Trust Direct Indexing L.P. now owns 5,849 shares of the basic materials company’s stock valued at $299,000 after purchasing an additional 239 shares during the period. Evergreen Capital Management LLC lifted its holdings in shares of ATI by 4.1% in the third quarter. Evergreen Capital Management LLC now owns 6,582 shares of the basic materials company’s stock valued at $271,000 after purchasing an additional 258 shares in the last quarter. Inspire Investing LLC grew its holdings in shares of ATI by 4.1% during the third quarter. Inspire Investing LLC now owns 7,409 shares of the basic materials company’s stock valued at $305,000 after buying an additional 291 shares in the last quarter. Finally, Covestor Ltd boosted its position in ATI by 73.1% during the 3rd quarter. Covestor Ltd now owns 1,044 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 441 shares during the period.

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.