Allegheny Technologies Incorporated (NYSE:ATI) has received an average recommendation of “Hold” from the ten analysts that are covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $20.57.
Several brokerages have commented on ATI. J P Morgan Chase & Co upgraded shares of Allegheny Technologies from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $14.50 to $19.00 in a report on Wednesday, July 26th. BidaskClub cut shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Zacks Investment Research upgraded shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Berenberg Bank set a $17.00 target price on shares of Allegheny Technologies and gave the stock a “hold” rating in a report on Thursday, October 19th. Finally, KeyCorp reiterated a “hold” rating on shares of Allegheny Technologies in a report on Wednesday, October 11th.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Partners LLC purchased a new stake in shares of Allegheny Technologies in the third quarter worth approximately $252,000. IndexIQ Advisors LLC lifted its position in shares of Allegheny Technologies by 752.8% in the third quarter. IndexIQ Advisors LLC now owns 12,834 shares of the basic materials company’s stock worth $307,000 after purchasing an additional 11,329 shares in the last quarter. Frontier Capital Management Co. LLC lifted its position in shares of Allegheny Technologies by 7.0% in the third quarter. Frontier Capital Management Co. LLC now owns 5,782,970 shares of the basic materials company’s stock worth $138,213,000 after purchasing an additional 377,915 shares in the last quarter. Bbva Compass Bancshares Inc. lifted its position in shares of Allegheny Technologies by 5.9% in the third quarter. Bbva Compass Bancshares Inc. now owns 45,239 shares of the basic materials company’s stock worth $1,082,000 after purchasing an additional 2,530 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Allegheny Technologies in the third quarter worth approximately $1,866,000.
Allegheny Technologies (ATI) traded up $0.66 during trading hours on Wednesday, hitting $25.78. 1,800,633 shares of the stock traded hands, compared to its average volume of 1,937,755. The company has a current ratio of 2.68, a quick ratio of 1.04 and a debt-to-equity ratio of 1.30. The company has a market cap of $2.79 billion, a P/E ratio of 183.36, a price-to-earnings-growth ratio of 4.86 and a beta of 2.44.
Allegheny Technologies (NYSE:ATI) last announced its earnings results on Tuesday, October 24th. The basic materials company reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). Allegheny Technologies had a negative net margin of 2.45% and a positive return on equity of 1.09%. The company had revenue of $869.10 million during the quarter, compared to analysts’ expectations of $866.94 million. During the same period last year, the company posted ($0.21) earnings per share. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. equities analysts forecast that Allegheny Technologies will post 0.35 earnings per share for the current year.
Allegheny Technologies Company Profile
Allegheny Technologies Incorporated is a manufacturer of specialty materials and complex components. The Company operates through two business segments: High Performance Materials & Components (HPMC), and Flat Rolled Products (FRP). The HPMC segment produces, converts and distributes a range of materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, zirconium and related alloys, including hafnium and niobium, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, plus precision forgings, castings, components and machined parts.
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