Shares of Allegheny Technologies (NYSE:ATI) have earned an average rating of “Hold” from the twelve research firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $29.22.
Several research firms recently issued reports on ATI. KeyCorp set a $31.00 target price on shares of Allegheny Technologies and gave the stock a “buy” rating in a research report on Tuesday, April 3rd. Goldman Sachs began coverage on shares of Allegheny Technologies in a research report on Tuesday, March 20th. They issued a “sell” rating and a $26.00 target price on the stock. Cowen reissued a “buy” rating and issued a $32.00 target price on shares of Allegheny Technologies in a research report on Tuesday, January 23rd. Bank of America reissued a “neutral” rating and issued a $32.00 target price on shares of Allegheny Technologies in a research report on Wednesday, January 24th. They noted that the move was a valuation call. Finally, Buckingham Research raised their target price on shares of Allegheny Technologies from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 26th.
Shares of Allegheny Technologies stock traded down $0.55 during mid-day trading on Wednesday, hitting $27.07. 2,213,061 shares of the stock were exchanged, compared to its average volume of 1,983,373. Allegheny Technologies has a twelve month low of $14.54 and a twelve month high of $30.25. The stock has a market capitalization of $3,254.62, a P/E ratio of 56.40 and a beta of 2.39. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.69 and a quick ratio of 1.04.
Allegheny Technologies (NYSE:ATI) last released its quarterly earnings results on Tuesday, April 24th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.08. Allegheny Technologies had a negative net margin of 2.61% and a positive return on equity of 3.47%. The company had revenue of $979.00 million for the quarter, compared to analysts’ expectations of $932.86 million. During the same period last year, the company earned $0.16 EPS. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. analysts forecast that Allegheny Technologies will post 1.31 EPS for the current year.
A number of hedge funds have recently made changes to their positions in the business. Advisory Services Network LLC raised its stake in shares of Allegheny Technologies by 19,684.8% during the fourth quarter. Advisory Services Network LLC now owns 6,529 shares of the basic materials company’s stock valued at $158,000 after purchasing an additional 6,496 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Allegheny Technologies during the third quarter valued at approximately $181,000. Global X Management Co. LLC raised its stake 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 purchasing an additional 3,255 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Allegheny Technologies by 42.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,625 shares of the basic materials company’s stock valued at $184,000 after purchasing an additional 2,269 shares during the period. Finally, Creative Planning purchased a new stake in shares of Allegheny Technologies during the fourth quarter valued at approximately $218,000.
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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.
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