Seaport Global Securities Brokers Raise Earnings Estimates for Allegheny Technologies Incorporated (ATI)

Allegheny Technologies Incorporated (NYSE:ATI) – Analysts at Seaport Global Securities upped their Q2 2018 EPS estimates for shares of Allegheny Technologies in a report released on Thursday. Seaport Global Securities analyst J. Sullivan now expects that the basic materials company will earn $0.30 per share for the quarter, up from their previous estimate of $0.26. Seaport Global Securities also issued estimates for Allegheny Technologies’ Q4 2018 earnings at $0.34 EPS.

Several other equities research analysts have also recently issued reports on the stock. Bank of America Corporation raised shares of Allegheny Technologies from an “underperform” rating to a “buy” rating and raised their price target for the stock from $16.00 to $24.00 in a research note on Monday, September 11th. Longbow Research reaffirmed a “buy” rating and set a $24.00 price target on shares of Allegheny Technologies in a research note on Wednesday, August 23rd. Zacks Investment Research raised shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. BidaskClub raised shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, J P Morgan Chase & Co raised shares of Allegheny Technologies from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $14.50 to $19.00 in a research note on Wednesday, July 26th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $20.65.

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Allegheny Technologies (NYSE ATI) opened at 24.67 on Friday. The firm’s market capitalization is $2.69 billion. The firm has a 50-day moving average of $22.14 and a 200 day moving average of $18.49. Allegheny Technologies has a 12-month low of $13.15 and a 12-month high of $25.51.

Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The firm had revenue of $880.20 million for the quarter, compared to analyst estimates of $874.95 million. Allegheny Technologies had a negative net margin of 14.89% and a positive return on equity of 0.08%. Allegheny Technologies’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.21) earnings per share.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Financial Architects Inc boosted its position in shares of Allegheny Technologies by 180.0% in the second quarter. Financial Architects Inc now owns 7,000 shares of the basic materials company’s stock worth $119,000 after acquiring an additional 4,500 shares during the last quarter. Creative Planning boosted its position in shares of Allegheny Technologies by 2,619.9% in the second quarter. Creative Planning now owns 7,534 shares of the basic materials company’s stock worth $128,000 after acquiring an additional 7,257 shares during the last quarter. Riverhead Capital Management LLC boosted its position in shares of Allegheny Technologies by 72.9% in the second quarter. Riverhead Capital Management LLC now owns 8,297 shares of the basic materials company’s stock worth $141,000 after acquiring an additional 3,497 shares during the last quarter. LS Investment Advisors LLC boosted its position in shares of Allegheny Technologies by 24.1% in the second quarter. LS Investment Advisors LLC now owns 8,982 shares of the basic materials company’s stock worth $153,000 after acquiring an additional 1,745 shares during the last quarter. Finally, Flinton Capital Management LLC boosted its position in shares of Allegheny Technologies by 70.8% in the second quarter. Flinton Capital Management LLC now owns 9,184 shares of the basic materials company’s stock worth $156,000 after acquiring an additional 3,808 shares during the last quarter. 96.61% of the stock is currently owned by institutional investors and hedge funds.

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.

Earnings History and Estimates for Allegheny Technologies (NYSE:ATI)

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