Allegheny Technologies Incorporated (ATI) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Allegheny Technologies Incorporated (NYSE:ATI) have been assigned an average recommendation of “Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $29.89.

A number of equities research analysts recently commented on the stock. ValuEngine raised shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Goldman Sachs Group raised shares of Allegheny Technologies from a “sell” rating to a “neutral” rating and set a $29.00 price objective on the stock in a research note on Tuesday, May 29th. Zacks Investment Research lowered shares of Allegheny Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, April 27th. Cowen restated a “buy” rating and issued a $35.00 target price on shares of Allegheny Technologies in a report on Friday, April 13th. Finally, KeyCorp set a $31.00 target price on shares of Allegheny Technologies and gave the company a “buy” rating in a report on Tuesday, April 3rd.

Allegheny Technologies traded down $0.31, reaching $28.17, during trading hours on Thursday, according to MarketBeat. The company’s stock had a trading volume of 1,129,793 shares, compared to its average volume of 1,882,788. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 58.69 and a beta of 2.41. Allegheny Technologies has a fifty-two week low of $15.82 and a fifty-two week high of $30.25. The company has a current ratio of 2.70, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78.

Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings data on Tuesday, April 24th. The basic materials company reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.08. The firm had revenue of $979.00 million for the quarter, compared to analysts’ expectations of $932.86 million. Allegheny Technologies had a negative net margin of 1.41% and a positive return on equity of 4.75%. The firm’s revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.16 EPS. research analysts expect that Allegheny Technologies will post 1.38 earnings per share for the current year.

In other news, EVP John D. Sims sold 30,000 shares of the stock in a transaction dated Thursday, April 26th. The shares were sold at an average price of $27.34, for a total transaction of $820,200.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Karl D. Schwartz sold 1,000 shares of the stock in a transaction dated Thursday, April 26th. The stock was sold at an average price of $27.12, for a total transaction of $27,120.00. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. Kennedy Capital Management Inc. lifted its holdings in shares of Allegheny Technologies by 9.5% during the 4th quarter. Kennedy Capital Management Inc. now owns 589,927 shares of the basic materials company’s stock worth $14,241,000 after acquiring an additional 50,959 shares during the period. American International Group Inc. lifted its holdings in shares of Allegheny Technologies by 15.8% during the 4th quarter. American International Group Inc. now owns 342,473 shares of the basic materials company’s stock worth $8,267,000 after acquiring an additional 46,830 shares during the period. MetLife Investment Advisors LLC purchased a new position in shares of Allegheny Technologies during the 4th quarter worth about $3,280,000. Royce & Associates LP lifted its holdings in shares of Allegheny Technologies by 1.9% during the 4th quarter. Royce & Associates LP now owns 1,526,487 shares of the basic materials company’s stock worth $36,849,000 after acquiring an additional 27,815 shares during the period. Finally, State Treasurer State of Michigan lifted its holdings in shares of Allegheny Technologies by 10.5% during the 4th quarter. State Treasurer State of Michigan now owns 45,200 shares of the basic materials company’s stock worth $1,091,000 after acquiring an additional 4,300 shares during the period.

About Allegheny Technologies

Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates through two segments, High Performance Materials & Components, and Flat-Rolled Products. The High Performance Materials & Components segment produces, converts, and distributes a range of high performance materials, including titanium and titanium-based alloys; nickel-and cobalt-based alloys and superalloys; zirconium and related alloys, such as hafnium and niobium; powder alloys; and other specialty materials in long product forms of ingots, billets, bars, rods, wires, and shapes and rectangles, as well as seamless tubes, plus precision forgings, castings, components, and machined parts.

Analyst Recommendations for Allegheny Technologies (NYSE:ATI)

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