ATI (NYSE:ATI) Sets New 1-Year High at $67.98

ATI Inc. (NYSE:ATI) hit a new 52-week high on Wednesday . The company traded as high as $67.98 and last traded at $66.64, with a volume of 9554 shares. The stock had previously closed at $65.57.

Analyst Upgrades and Downgrades

ATI has been the subject of a number of recent research reports. Barclays boosted their target price on shares of ATI from $55.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Deutsche Bank Aktiengesellschaft assumed coverage on ATI in a report on Thursday, April 11th. They set a “buy” rating and a $70.00 target price on the stock. KeyCorp upped their price objective 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. BTIG Research began coverage on shares of ATI in a research report on Wednesday, June 26th. They issued a “buy” rating and a $70.00 target price for the company. Finally, Benchmark boosted their price objective on shares of ATI from $56.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.20.

ATI Price Performance

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 50 day moving average price is $58.61 and its two-hundred day moving average price is $52.60. The stock has a market cap of $8.45 billion, a P/E ratio of 26.35, a price-to-earnings-growth ratio of 1.63 and a beta of 1.07.

ATI (NYSE:ATI) last announced its quarterly earnings results 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 during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the business posted $0.49 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. As a group, sell-side analysts expect that ATI Inc. will post 2.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ATI

A number of institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its stake in ATI by 0.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 84,050 shares of the basic materials company’s stock worth $3,822,000 after acquiring an additional 216 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of ATI by 3.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,113 shares of the basic materials company’s stock worth $364,000 after buying an additional 224 shares during the last quarter. First Trust Direct Indexing L.P. raised its position in shares of ATI by 4.3% during the 1st quarter. First Trust Direct Indexing L.P. now owns 5,849 shares of the basic materials company’s stock valued at $299,000 after buying an additional 239 shares in the last quarter. Nvwm LLC lifted its holdings in shares of ATI by 2.1% in the 1st quarter. Nvwm LLC now owns 16,177 shares of the basic materials company’s stock valued at $828,000 after acquiring an additional 334 shares during the last quarter. Finally, Raymond James & Associates grew its position in ATI by 2.0% in the fourth quarter. Raymond James & Associates now owns 27,585 shares of the basic materials company’s stock worth $1,254,000 after acquiring an additional 529 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.