ATI (NYSE:ATI) Price Target Increased to $70.00 by Analysts at Barclays

ATI (NYSE:ATI) had its price objective raised by Barclays from $55.00 to $70.00 in a report released on Monday, Benzinga reports. Barclays currently has an overweight rating on the basic materials company’s stock.

A number of other research firms also recently issued reports on ATI. Deutsche Bank Aktiengesellschaft started coverage on shares of ATI in a report on Thursday, April 11th. They issued a buy rating and a $70.00 price objective on the stock. KeyCorp raised their target price on shares of ATI from $56.00 to $58.00 and gave the company an overweight rating in a research report on Monday, April 22nd. Finally, TheStreet raised shares of ATI from a c+ rating to a b- rating in a research report on Friday, January 26th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, ATI presently has an average rating of Moderate Buy and a consensus price target of $59.17.

ATI Price Performance

Shares of NYSE ATI opened at $59.08 on Monday. The company has a fifty day moving average price of $50.99 and a 200 day moving average price of $45.49. The firm has a market cap of $7.35 billion, a PE ratio of 23.73, a PEG ratio of 1.50 and a beta of 1.17. The company has a current ratio of 2.81, a quick ratio of 1.37 and a debt-to-equity ratio of 1.56. ATI has a 1-year low of $34.10 and a 1-year high of $61.58.

ATI (NYSE:ATI) last posted its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.07. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. ATI had a return on equity of 23.72% and a net margin of 8.70%. ATI’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 earnings per share. Research analysts predict that ATI will post 2.4 earnings per share for the current fiscal year.

Insider Activity at ATI

In other ATI 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 transaction of $268,433.00. Following the sale, the vice president now directly owns 109,331 shares of the company’s stock, valued at $4,640,007.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.05% of the stock is owned by company insiders.

Hedge Funds Weigh In On ATI

A number of hedge funds and other institutional investors have recently bought and sold shares of ATI. Clearstead Advisors LLC lifted its position in shares of ATI by 295.9% in the third quarter. Clearstead Advisors LLC now owns 669 shares of the basic materials company’s stock valued at $28,000 after buying an additional 500 shares during the last quarter. Covestor Ltd raised its stake in ATI by 73.1% in the 3rd quarter. Covestor Ltd now owns 1,044 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 441 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new stake in ATI during the 1st quarter valued at $51,000. GAMMA Investing LLC bought a new position in ATI during the fourth quarter worth $58,000. Finally, Edmond DE Rothschild Holding S.A. increased its holdings in shares of ATI by 211.5% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 2,651 shares of the basic materials company’s stock valued at $121,000 after purchasing an additional 1,800 shares during the last quarter.

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.