ATI (NYSE:ATI) Coverage Initiated at BTIG Research

BTIG Research assumed coverage on shares of ATI (NYSE:ATI) in a research report sent to investors on Wednesday, MarketBeat reports. The brokerage issued a buy rating and a $70.00 price target on the basic materials company’s stock.

Several other research firms have also weighed in on ATI. KeyCorp upped their price target on ATI from $58.00 to $66.00 and gave the company an overweight rating in a research report on Tuesday, May 28th. Northcoast Research downgraded ATI from a neutral rating to a sell rating in a research note on Friday, June 14th. Deutsche Bank Aktiengesellschaft started 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, Barclays boosted their target price on ATI from $55.00 to $70.00 and gave the company an overweight rating in a research note on Monday, May 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, ATI currently has a consensus rating of Moderate Buy and a consensus target price of $63.83.

ATI Stock Down 1.9 %

NYSE:ATI opened at $55.45 on Wednesday. The firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 1.43 and a beta of 1.12. ATI has a 1-year low of $35.03 and a 1-year high of $62.44. The company has a current ratio of 2.81, a quick ratio of 1.37 and a debt-to-equity ratio of 1.56. The business’s fifty day moving average price is $57.57 and its 200 day moving average price is $50.13.

ATI (NYSE:ATI) last posted its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.07. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. ATI had a return on equity of 23.72% and a net margin of 8.70%. ATI’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 earnings per share. On average, sell-side analysts forecast that ATI will post 2.45 earnings per share for the current fiscal year.

Institutional Trading of ATI

Several hedge funds have recently added to or reduced their stakes in ATI. Palestra Capital Management LLC boosted its stake in ATI by 839.0% during the 3rd quarter. Palestra Capital Management LLC now owns 2,190,728 shares of the basic materials company’s stock valued at $90,148,000 after purchasing an additional 1,957,416 shares during the period. Point72 Asset Management L.P. boosted its stake in ATI by 1,393.2% during the 4th quarter. Point72 Asset Management L.P. now owns 1,539,536 shares of the basic materials company’s stock valued at $70,003,000 after purchasing an additional 1,436,436 shares during the period. Norges Bank acquired a new position in ATI in the 4th quarter valued at approximately $55,855,000. Capital World Investors raised its holdings in ATI by 43.9% in the 1st quarter. Capital World Investors now owns 2,840,962 shares of the basic materials company’s stock valued at $145,372,000 after acquiring an additional 866,310 shares in the last quarter. Finally, Frontier Capital Management Co. LLC raised its holdings in ATI by 19.5% in the 4th quarter. Frontier Capital Management Co. LLC now owns 3,645,644 shares of the basic materials company’s stock valued at $165,767,000 after acquiring an additional 594,644 shares in the last quarter.

About ATI

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.