News coverage about Allegheny Technologies (NYSE:ATI) has trended somewhat positive on Saturday, AlphaOne reports. AlphaOne, a service of Accern, scores the sentiment of press coverage by analyzing more than twenty million blog and news sources in real-time. AlphaOne ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Allegheny Technologies earned a news sentiment score of 0.11 on AlphaOne’s scale. AlphaOne also gave news headlines about the basic materials company an impact score of 82 out of 100, indicating that recent press coverage is very likely to have an effect on the stock’s share price in the next several days.
These are some of the news headlines that may have impacted Alpha One’s rankings:
- ETFs with exposure to Allegheny Technologies, Inc. : May 19, 2017 (finance.yahoo.com)
- Allegheny Technologies Inc (ATI) Shares Moving On Volume – The Times (tuckermantimes.com)
- Allegheny Technologies Incorporated (NYSE:ATI) Files An 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year (4-traders.com)
- Passive Investments Requiring Ownership Figures: PulteGroup (NYSE:PHM), Allegheny Technologies (NYSE:ATI) – Wallstreet Investorplace (wallstreetinvestorplace.com)
- Stocks Under Review Allegheny Technologies Incorporated (NYSE:ATI), MiMedx Group Inc (NASDAQ:MDXG) – Daily News Journal (journalfinance.net)
Several research analysts have commented on ATI shares. Berenberg Bank raised shares of Allegheny Technologies from a “sell” rating to a “hold” rating and lifted their price target for the stock from $16.10 to $17.20 in a research note on Monday, April 24th. Seaport Global Securities raised shares of Allegheny Technologies from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $24.00 to $22.00 in a research note on Thursday, March 16th. Cowen and Company reissued a “hold” rating and set a $18.00 price target on shares of Allegheny Technologies in a research note on Tuesday, April 25th. Bank of America Corp downgraded shares of Allegheny Technologies from a “buy” rating to an “underperform” rating and set a $16.00 price target on the stock. in a research note on Friday, January 20th. Finally, Longbow Research started coverage on shares of Allegheny Technologies in a research note on Tuesday, March 21st. They set a “buy” rating and a $24.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $19.74.
Allegheny Technologies (NYSE:ATI) last released its quarterly earnings results on Tuesday, April 25th. The basic materials company reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.05. Allegheny Technologies had a negative return on equity of 6.15% and a negative net margin of 20.45%. The company had revenue of $865.90 million for the quarter, compared to analyst estimates of $843.39 million. During the same quarter in the prior year, the firm posted ($0.94) EPS. Allegheny Technologies’s quarterly revenue was up 14.3% compared to the same quarter last year.
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About Allegheny Technologies
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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