ATI (NYSE:ATI – Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.30-2.60 for the period, compared to the consensus estimate of $2.28. ATI also updated its FY 2024 guidance to 2.300-2.600 EPS.
Analyst Ratings Changes
Several research firms recently weighed in on ATI. TheStreet upgraded shares of ATI from a c+ rating to a b- rating in a research report on Friday, January 26th. KeyCorp increased their price objective on shares of ATI from $56.00 to $58.00 and gave the company an overweight rating in a report on Monday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of ATI in a research note on Thursday, April 11th. They set a buy rating and a $70.00 price objective on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $56.00.
Check Out Our Latest Stock Analysis on ATI
ATI Price Performance
ATI (NYSE:ATI – Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.07. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. ATI had a return on equity of 23.72% and a net margin of 8.70%. The firm’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 earnings per share. On average, research analysts predict that ATI will post 2.26 EPS for the current fiscal year.
Insider Activity
In other ATI news, VP Timothy J. Harris sold 6,325 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.44, for a total value of $268,433.00. Following the completion of the transaction, the vice president now directly owns 109,331 shares in the company, valued at $4,640,007.64. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.71% of the stock is currently owned by company insiders.
ATI Company Profile
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.
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