Allegheny Technologies Incorporated (NYSE:ATI) Given Consensus Rating of “Hold” by Analysts

Shares of Allegheny Technologies Incorporated (NYSE:ATI) have received an average recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $29.93.

ATI has been the topic of a number of recent research reports. Longbow Research cut shares of Allegheny Technologies from a “buy” rating to a “neutral” rating and set a $24.45 price objective on the stock. in a research note on Thursday, July 18th. KeyCorp boosted their price objective on shares of Allegheny Technologies from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. Barclays reaffirmed a “buy” rating and set a $31.00 target price on shares of Allegheny Technologies in a report on Wednesday, July 31st. ValuEngine downgraded shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, July 24th. Finally, TheStreet raised shares of Allegheny Technologies from a “c” rating to a “b-” rating in a report on Tuesday, July 23rd.

In other Allegheny Technologies news, Director James C. Diggs sold 4,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $23.65, for a total value of $94,600.00. Following the completion of the sale, the director now owns 36,458 shares of the company’s stock, valued at approximately $862,231.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert S. Wetherbee acquired 5,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was acquired at an average cost of $18.36 per share, with a total value of $91,800.00. Following the acquisition, the insider now directly owns 113,335 shares in the company, valued at $2,080,830.60. The disclosure for this purchase can be found here. Insiders have purchased a total of 12,400 shares of company stock valued at $222,680 in the last ninety days. 1.06% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. Shine Investment Advisory Services Inc. increased its position in Allegheny Technologies by 123.5% in the 1st quarter. Shine Investment Advisory Services Inc. now owns 1,133 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 626 shares during the period. Quadrant Capital Group LLC increased its position in shares of Allegheny Technologies by 283.3% during the first quarter. Quadrant Capital Group LLC now owns 1,265 shares of the basic materials company’s stock worth $31,000 after buying an additional 935 shares during the period. FinTrust Capital Advisors LLC acquired a new stake in shares of Allegheny Technologies during the first quarter worth $64,000. Tower Research Capital LLC TRC acquired a new stake in shares of Allegheny Technologies during the second quarter worth $64,000. Finally, First Manhattan Co. acquired a new stake in shares of Allegheny Technologies during the first quarter worth $85,000.

NYSE:ATI traded up $0.02 during mid-day trading on Tuesday, hitting $17.87. The company’s stock had a trading volume of 1,688,465 shares, compared to its average volume of 1,615,167. Allegheny Technologies has a fifty-two week low of $17.03 and a fifty-two week high of $30.18. The company has a current ratio of 2.98, a quick ratio of 1.37 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 11.83, a P/E/G ratio of 0.90 and a beta of 2.29. The stock has a fifty day moving average of $22.24 and a 200-day moving average of $24.65.

Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings results on Tuesday, July 23rd. The basic materials company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. Allegheny Technologies had a net margin of 4.39% and a return on equity of 7.83%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the business posted $0.52 earnings per share. Allegheny Technologies’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts anticipate that Allegheny Technologies will post 1.3 earnings per share for the current fiscal year.

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 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.

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Analyst Recommendations for Allegheny Technologies (NYSE:ATI)

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