Stephens began coverage on shares of Allegheny Technologies (NYSE:ATI) in a report issued on Tuesday morning, Marketbeat reports. The brokerage issued an overweight rating on the basic materials company’s stock.
A number of other equities analysts have also commented on ATI. Cowen reaffirmed a buy rating and issued a $35.00 price target on shares of Allegheny Technologies in a report on Tuesday. Zacks Investment Research raised Allegheny Technologies from a hold rating to a buy rating and set a $28.00 price target for the company in a report on Tuesday. ValuEngine raised Allegheny Technologies from a sell rating to a hold rating in a report on Wednesday, May 2nd. Goldman Sachs Group raised Allegheny Technologies from a sell rating to a neutral rating and set a $29.00 price target for the company in a report on Tuesday, May 29th. Finally, Longbow Research lowered Allegheny Technologies from a buy rating to a neutral rating and set a $24.00 price target for the company. in a report on Monday, June 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. Allegheny Technologies presently has an average rating of Hold and an average target price of $29.70.
Allegheny Technologies stock opened at $25.12 on Tuesday. Allegheny Technologies has a one year low of $16.51 and a one year high of $30.25. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.70 and a quick ratio of 1.11. The firm has a market capitalization of $3.16 billion, a PE ratio of 41.16 and a beta of 2.41.
Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings results on Tuesday, April 24th. The basic materials company reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.08. Allegheny Technologies had a positive return on equity of 4.75% and a negative net margin of 1.41%. The firm had revenue of $979.00 million during the quarter, compared to analyst estimates of $932.86 million. During the same period last year, the company earned $0.16 earnings per share. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. analysts anticipate that Allegheny Technologies will post 1.38 EPS for the current fiscal year.
In related news, VP Karl D. Schwartz sold 1,000 shares of the stock in a transaction on Thursday, April 26th. The stock was sold at an average price of $27.12, for a total value of $27,120.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John D. Sims sold 30,000 shares of the stock in a transaction on Thursday, April 26th. The stock was sold at an average price of $27.34, for a total value of $820,200.00. The disclosure for this sale can be found here. Insiders sold 32,000 shares of company stock worth $874,660 in the last quarter. 1.00% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of ATI. Cubist Systematic Strategies LLC purchased a new stake in shares of Allegheny Technologies in the first quarter worth $126,000. Zeke Capital Advisors LLC purchased a new stake in Allegheny Technologies during the first quarter valued at about $200,000. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in Allegheny Technologies by 284.0% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 9,600 shares of the basic materials company’s stock valued at $232,000 after purchasing an additional 7,100 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Allegheny Technologies during the first quarter valued at about $242,000. Finally, Elkfork Partners LLC purchased a new stake in Allegheny Technologies during the fourth quarter valued at about $248,000.
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.
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