Allegheny Technologies Incorporated (NYSE: ATI – Get Rating) has received a consensus recommendation of “Buy” from the eleven ratings firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $ 26.11.
A number of research analysts recently weighed in on ATI shares. KeyCorp boosted their target price on Allegheny Technologies from $ 28.00 to $ 31.00 and gave the stock an “overweight” rating in a report on Monday, April 4th. Zacks Investment Research upgraded Allegheny Technologies from a “hold” rating to a “strong-buy” rating and set a $ 26.00 price objective on the stock in a research note on Tuesday, February 8th. StockNews.com started coverage on Allegheny Technologies in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Benchmark raised their objective price on Allegheny Technologies from $ 26.00 to $ 30.00 and gave the company a “buy” rating in a report on Friday, February 18th. Finally, Barclays raised their price objective on Allegheny Technologies from $ 23.00 to $ 29.00 and gave the company an “overweight” rating in a report on Monday, February 7th.
Shares of NYSE ATI opened at $ 27.34 on Friday. The firm has a market capitalization of $ 3.39 billion, a PE ratio of -683.50 and a beta of 1.28. The company has a current ratio of 2.61, a quick ratio of 1.25 and a debt-to-equity ratio of 2.15. Allegheny Technologies has a 1 year low of $ 13.85 and a 1 year high of $ 30.74. The firm’s 50-day moving average is $ 27.33 and its 200-day moving average is $ 22.73.
Allegheny Technologies (NYSE: ATI – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The basic materials company reported $ 0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $ 0.22 by $ 0.18. Allegheny Technologies had a net margin of 0.02% and a return on equity of 11.17%. The firm had revenue of $ 834.10 million for the quarter, compared to analyst estimates of $ 748.04 million. During the same quarter in the previous year, the firm posted ($ 0.06) earnings per share. The business’s revenue was up 20.4% on a year-over-year basis. As a group, equities research analysts anticipate that Allegheny Technologies will post 1.26 earnings per share for the current fiscal year.
In related news, CMO Kevin B. Kramer sold 10,000 shares of the stock in a transaction on Thursday, April 14th. The stock was sold at an average price of $ 30.00, for a total value of $ 300,000.00. Following the transaction, the chief marketing officer now owns 160,338 shares of the company’s stock, valued at $ 4,810,140. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.82% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of ATI. Yousif Capital Management LLC bought a new stake in Allegheny Technologies in the 4th quarter worth approximately $ 1,827,000. Man Group plc lifted its stake in Allegheny Technologies by 52.4% in the 3rd quarter. Man Group plc now owns 71,962 shares of the company’s basic materials stock worth $ 1,196,000 after purchasing an additional 24,733 shares in the last quarter. Rafferty Asset Management LLC bought a new stake in shares of Allegheny Technologies in the 4th quarter worth about $ 161,000. Great Lakes Advisors LLC bought a new stake in shares of Allegheny Technologies in the 4th quarter worth about $ 181,000. Finally, Jade Capital Advisors LLC bought a new stake in shares of Allegheny Technologies in the 3rd quarter worth about $ 915,000.
About Allegheny Technologies (Get Rating)
Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company 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, 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.
Receive News & Ratings for Allegheny Technologies Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Allegheny Technologies and related companies with MarketBeat.com’s FREE daily email newsletter.