Cowen reissued their buy rating on shares of Allegheny Technologies (NYSE:ATI) in a research report report published on Monday, AnalystRatings.com reports. They currently have a $32.00 price target on the basic materials company’s stock.
Several other research firms also recently weighed in on ATI. TheStreet upgraded shares of Allegheny Technologies from a c rating to a b- rating in a research report on Tuesday, July 23rd. Barclays restated a buy rating and set a $31.00 price target on shares of Allegheny Technologies in a research report on Wednesday, July 31st. KeyCorp upped their price target on shares of Allegheny Technologies from $33.00 to $34.00 and gave the stock an overweight rating in a research report on Wednesday, April 24th. Longbow Research downgraded shares of Allegheny Technologies from a buy rating to a neutral rating and set a $24.45 price target for the company. in a research report on Thursday, July 18th. Finally, ValuEngine downgraded shares of Allegheny Technologies from a hold rating to a sell rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $29.72.
Shares of Allegheny Technologies stock opened at $17.25 on Monday. The firm has a 50-day simple moving average of $22.83 and a two-hundred day simple moving average of $24.79. The company has a market cap of $2.24 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 0.91 and a beta of 2.29. Allegheny Technologies has a fifty-two week low of $17.03 and a fifty-two week high of $30.18. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.37 and a current ratio of 2.98.
Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings data on Tuesday, July 23rd. The basic materials company reported $0.40 earnings per share for the quarter, topping 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 the consensus estimate of $1.04 billion. During the same quarter in the prior year, the firm posted $0.52 earnings per share. The company’s revenue was up 7.0% compared to the same quarter last year. Equities research analysts forecast that Allegheny Technologies will post 1.3 EPS for the current year.
In other Allegheny Technologies news, SVP Elliot S. Davis acquired 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was bought at an average price of $17.53 per share, with a total value of $35,060.00. Following the purchase, the senior vice president now owns 6,530 shares in the company, valued at $114,470.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Kevin B. Kramer purchased 2,500 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average cost of $17.68 per share, with a total value of $44,200.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 12,400 shares of company stock valued at $222,680. Insiders own 1.06% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in Allegheny Technologies by 15.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,424,729 shares of the basic materials company’s stock worth $96,329,000 after purchasing an additional 591,706 shares during the last quarter. Norges Bank bought a new stake in Allegheny Technologies during the fourth quarter worth about $21,181,000. Geode Capital Management LLC lifted its stake in Allegheny Technologies by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 1,328,777 shares of the basic materials company’s stock worth $28,927,000 after purchasing an additional 96,014 shares during the last quarter. First Manhattan Co. bought a new stake in Allegheny Technologies during the first quarter worth about $85,000. Finally, Retirement Systems of Alabama lifted its stake in Allegheny Technologies by 0.4% during the first quarter. Retirement Systems of Alabama now owns 163,609 shares of the basic materials company’s stock worth $4,183,000 after purchasing an additional 653 shares during the last quarter.
Allegheny Technologies Company Profile
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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