ATI (NYSE:ATI) Reaches New 12-Month High at $62.52

ATI Inc. (NYSE:ATI) hit a new 52-week high during trading on Tuesday . The company traded as high as $62.52 and last traded at $62.51, with a volume of 549434 shares traded. The stock had previously closed at $59.28.

Analyst Upgrades and Downgrades

ATI has been the subject of several analyst reports. Benchmark boosted their target price on shares of ATI from $56.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Barclays upped their price objective 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. Northcoast Research cut ATI from a “neutral” rating to a “sell” rating in a research report on Friday, June 14th. KeyCorp upped their price target on ATI from $58.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft started coverage on ATI in a report on Thursday, April 11th. They issued a “buy” rating and a $70.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $71.20.

ATI Trading Up 6.3 %

The company has a fifty day moving average of $58.22 and a 200-day moving average of $51.70. 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 company has a market capitalization of $7.84 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 1.47 and a beta of 1.07.

ATI (NYSE:ATI) last released its 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. ATI had a return on equity of 23.72% and a net margin of 8.70%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the business posted $0.49 earnings per share. The business’s quarterly revenue was up .5% compared to the same quarter last year. As a group, equities research analysts anticipate that ATI Inc. will post 2.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ATI

A number of hedge funds have recently modified their holdings of ATI. Benjamin F. Edwards & Company Inc. acquired a new position in ATI during the first quarter worth about $51,000. GAMMA Investing LLC acquired a new position in shares of ATI during the 4th quarter worth approximately $58,000. EverSource Wealth Advisors LLC grew its position in shares of ATI by 294.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock valued at $69,000 after purchasing an additional 1,010 shares in the last quarter. 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. Finally, Quest Partners LLC purchased a new position in ATI during the fourth quarter worth approximately $174,000.

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.