StockNews.com Begins Coverage on ATI (NYSE:ATI)

StockNews.com began coverage on shares of ATI (NYSE:ATI – Get Rating) in a research note issued to investors on Thursday morning. The brokerage issued a hold rating on the basic materials company’s stock.

ATI has been the subject of several other reports. KeyCorp increased their price target on ATI from $45.00 to $47.00 and gave the stock an overweight rating in a report on Tuesday, March 7th. Cowen increased their price target on ATI from $37.00 to $45.00 and gave the stock an outperform rating in a report on Monday, February 6th. Benchmark increased their price target on ATI from $37.00 to $47.00 and gave the stock a buy rating in a report on Friday, February 3rd. Finally, Seaport Res Ptn restated a buy rating on shares of ATI in a report on Saturday, January 21st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, ATI has a consensus rating of Moderate Buy and an average target price of $43.00.

ATI Trading Down 3.8 %

NYSE:ATI opened at $36.16 on Thursday. ATI has a 1-year low of $20.51 and a 1-year high of $43.32. The business’s 50-day moving average price is $38.19 and its two-hundred day moving average price is $32.51. The company has a current ratio of 2.57, a quick ratio of 1.33 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 41.56 and a beta of 1.21.

ATI (NYSE:ATI – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The basic materials company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.01. ATI had a return on equity of 30.40% and a net margin of 3.41%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the company earned $0.25 earnings per share. The company’s revenue for the quarter was up 32.0% compared to the same quarter last year. On average, equities analysts expect that ATI will post 2.16 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Elliot S. Davis sold 9,627 shares of the stock in a transaction dated Wednesday, February 8th. The stock was sold at an average price of $39.07, for a total transaction of $376,126.89. Following the completion of the transaction, the insider now directly owns 151,642 shares in the company, valued at $5,924,652.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.82% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. U.S. Capital Wealth Advisors LLC bought a new position in ATI in the fourth quarter valued at approximately $54,000. OLD Mission Capital LLC bought a new position in ATI in the fourth quarter valued at approximately $56,000. Point72 Middle East FZE bought a new position in ATI in the fourth quarter valued at approximately $75,000. Gamble Jones Investment Counsel bought a new position in ATI in the third quarter valued at approximately $84,000. Finally, Convergence Investment Partners LLC bought a new position in ATI in the third quarter valued at approximately $103,000.

About ATI

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ATI, Inc engages in the manufacture of specialty materials and components. It operates through the High Performance Materials and Components (HPMC) and Advanced Alloys & Solutions (AA&S) segments. The HPMC segment consists of the production of materials, parts, and components for aerospace and defense, medical, and energy markets.