Northcoast Research Downgrades ATI (NYSE:ATI) to Sell

ATI (NYSE:ATI) was downgraded by research analysts at Northcoast Research from a “neutral” rating to a “sell” rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports.

A number of other equities analysts have also commented on ATI. Deutsche Bank Aktiengesellschaft assumed 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. Barclays boosted their target price on shares of ATI from $55.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Finally, KeyCorp boosted their target price on shares of ATI from $58.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $62.60.

ATI Stock Performance

Shares of ATI stock opened at $53.35 on Friday. ATI has a 12 month low of $35.03 and a 12 month high of $62.44. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.81 and a quick ratio of 1.37. The firm has a market capitalization of $6.64 billion, a P/E ratio of 21.43, a P/E/G ratio of 1.47 and a beta of 1.12. The company’s fifty day moving average price is $56.79 and its two-hundred day moving average price is $49.13.

ATI (NYSE:ATI) last issued its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. ATI had a net margin of 8.70% and a return on equity of 23.72%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the business posted $0.49 EPS. The firm’s revenue was up .5% compared to the same quarter last year. On average, research analysts anticipate that ATI will post 2.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ATI

Hedge funds and other institutional investors have recently modified their holdings of the stock. Clearstead Advisors LLC grew its position in shares of ATI by 295.9% during the 3rd 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. Benjamin F. Edwards & Company Inc. bought a new stake in shares of ATI during the 1st quarter valued at about $51,000. Covestor Ltd grew its position in shares of ATI by 73.1% during the 3rd quarter. Covestor Ltd now owns 1,044 shares of the basic materials company’s stock valued at $43,000 after buying an additional 441 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of ATI during the 4th quarter valued at about $58,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of ATI by 294.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock valued at $69,000 after buying an additional 1,010 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.