Allegheny Technologies (ATI) Research Coverage Started at Goldman Sachs

Goldman Sachs assumed coverage on shares of Allegheny Technologies (NYSE:ATI) in a report released on Tuesday, March 20th, MarketBeat.com reports. The firm issued a sell rating and a $26.00 price objective on the basic materials company’s stock.

A number of other equities analysts also recently issued reports on ATI. Cowen reiterated a hold rating and issued a $23.00 price objective on shares of Allegheny Technologies in a report on Tuesday, December 12th. Zacks Investment Research downgraded Allegheny Technologies from a hold rating to a sell rating in a report on Monday, January 15th. Bank of America reiterated a neutral rating and issued a $32.00 price objective on shares of Allegheny Technologies in a report on Wednesday, January 24th. They noted that the move was a valuation call. JPMorgan Chase increased their target price on Allegheny Technologies from $18.00 to $25.00 and gave the stock a neutral rating in a research note on Wednesday, January 24th. Finally, Buckingham Research increased their target price on Allegheny Technologies from $30.00 to $40.00 and gave the stock a buy rating in a research note on Friday, January 26th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Allegheny Technologies has a consensus rating of Hold and a consensus price target of $28.89.

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ATI traded up $0.15 during trading on Tuesday, reaching $25.11. The stock had a trading volume of 838,462 shares, compared to its average volume of 1,948,588. The company has a current ratio of 2.69, a quick ratio of 1.04 and a debt-to-equity ratio of 0.83. The company has a market cap of $3,166.66, a price-to-earnings ratio of 52.31 and a beta of 2.39. Allegheny Technologies has a one year low of $14.54 and a one year high of $30.25.

Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings data on Tuesday, January 23rd. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. The business had revenue of $909.90 million during the quarter, compared to the consensus estimate of $898.22 million. Allegheny Technologies had a positive return on equity of 3.47% and a negative net margin of 2.61%. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.04) earnings per share. analysts predict that Allegheny Technologies will post 1.26 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Allegheny Technologies by 42.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,625 shares of the basic materials company’s stock worth $184,000 after acquiring an additional 2,269 shares during the last quarter. Flinton Capital Management LLC boosted its position in shares of Allegheny Technologies by 24.1% during the fourth quarter. Flinton Capital Management LLC now owns 13,104 shares of the basic materials company’s stock valued at $316,000 after buying an additional 2,548 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Allegheny Technologies by 9.3% during the fourth quarter. Louisiana State Employees Retirement System now owns 31,800 shares of the basic materials company’s stock valued at $768,000 after buying an additional 2,700 shares during the last quarter. First Mercantile Trust Co. boosted its position in shares of Allegheny Technologies by 10.6% during the fourth quarter. First Mercantile Trust Co. now owns 30,745 shares of the basic materials company’s stock valued at $742,000 after buying an additional 2,941 shares during the last quarter. Finally, Global X Management Co. LLC boosted its position in shares of Allegheny Technologies by 75.3% during the fourth quarter. Global X Management Co. LLC now owns 7,579 shares of the basic materials company’s stock valued at $183,000 after buying an additional 3,255 shares during the last quarter.

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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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