Brokerages Set Allegheny Technologies Incorporated (NYSE:ATI) Target Price at $29.93

Shares of Allegheny Technologies Incorporated (NYSE:ATI) have received an average recommendation of “Hold” from the eleven analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $29.93.

Several analysts have recently issued reports on the company. Barclays reissued a “buy” rating and set a $31.00 target price on shares of Allegheny Technologies in a report on Wednesday, July 31st. Cowen reissued a “buy” rating and set a $32.00 target price on shares of Allegheny Technologies in a report on Monday. KeyCorp increased their target price on Allegheny Technologies from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Buckingham Research lowered Allegheny Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $40.00 to $27.00 in a report on Monday, May 6th. Finally, Longbow Research lowered Allegheny Technologies from a “buy” rating to a “neutral” rating and set a $24.45 target price on the stock. in a report on Thursday, July 18th.

ATI opened at $17.25 on Tuesday. The firm has a market cap of $2.30 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 0.93 and a beta of 2.29. Allegheny Technologies has a 52-week low of $17.03 and a 52-week high of $30.18. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.37 and a current ratio of 2.98. The business’s fifty day moving average is $22.83 and its 200-day moving average is $24.79.

Allegheny Technologies (NYSE:ATI) last released its earnings results on Tuesday, July 23rd. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. Allegheny Technologies had a return on equity of 7.83% and a net margin of 4.39%. Allegheny Technologies’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 EPS. On average, research analysts predict that Allegheny Technologies will post 1.3 earnings per share for the current fiscal year.

In other Allegheny Technologies news, CMO Kevin B. Kramer acquired 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average cost of $17.68 per share, for a total transaction of $44,200.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Elliot S. Davis acquired 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average price of $17.53 per share, with a total value of $35,060.00. Following the completion of the transaction, the senior vice president now owns 6,530 shares in the company, valued at $114,470.90. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 12,400 shares of company stock valued at $222,680. 1.06% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of ATI. Shine Investment Advisory Services Inc. raised its position in Allegheny Technologies by 123.5% in the first quarter. Shine Investment Advisory Services Inc. now owns 1,133 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 626 shares during the last quarter. Quadrant Capital Group LLC raised its position in Allegheny Technologies by 283.3% in the first quarter. Quadrant Capital Group LLC now owns 1,265 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 935 shares during the last quarter. FinTrust Capital Advisors LLC bought a new position in Allegheny Technologies in the first quarter valued at about $64,000. Tower Research Capital LLC TRC bought a new position in Allegheny Technologies in the second quarter valued at about $64,000. Finally, First Manhattan Co. bought a new position in Allegheny Technologies in the first quarter valued at about $85,000.

Allegheny Technologies Company Profile

Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates through two segments, High Performance Materials & Components, and Flat-Rolled Products. The High Performance Materials & Components segment produces high performance materials, including titanium and titanium-based alloys; nickel-and cobalt-based alloys and superalloys; zirconium and related alloys, such as hafnium and niobium; powder alloys; and other specialty materials in long product forms of ingots, billets, bars, rods, wires, and shapes and rectangles, as well as seamless tubes, plus precision forgings, castings, components, and machined parts.

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Analyst Recommendations for Allegheny Technologies (NYSE:ATI)

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