Allegheny Technologies (NYSE:ATI)‘s stock had its “buy” rating reiterated by equities researchers at Cowen in a research note issued on Thursday. They currently have a $35.00 target price on the basic materials company’s stock. Cowen’s price target suggests a potential upside of 29.06% from the stock’s current price.
A number of other equities research analysts also recently weighed in on ATI. Zacks Investment Research downgraded Allegheny Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 20th. Bank of America set a $34.00 target price on Allegheny Technologies and gave the stock a “buy” rating in a research report on Wednesday, July 25th. KeyCorp upped their target price on Allegheny Technologies from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, July 26th. Barclays upped their target price on Allegheny Technologies from $36.00 to $39.00 and gave the stock an “overweight” rating in a research report on Monday, July 30th. Finally, Buckingham Research upped their target price on Allegheny Technologies from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $33.56.
ATI opened at $27.12 on Thursday. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of 19.07 and a beta of 2.37. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.90 and a quick ratio of 1.21. Allegheny Technologies has a 1-year low of $21.01 and a 1-year high of $30.25.
Allegheny Technologies (NYSE:ATI) last released its earnings results on Tuesday, October 23rd. The basic materials company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. Allegheny Technologies had a return on equity of 10.15% and a net margin of 4.67%. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.07) earnings per share. On average, analysts predict that Allegheny Technologies will post 1.6 EPS for the current fiscal year.
In other news, VP Karl D. Schwartz sold 1,000 shares of the stock in a transaction on Monday, September 17th. The stock was sold at an average price of $26.79, for a total transaction of $26,790.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 3,000 shares of company stock valued at $79,790 in the last quarter. Insiders own 1.00% of the company’s stock.
Large investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new stake in shares of Allegheny Technologies during the 1st quarter valued at $126,000. First Hawaiian Bank acquired a new stake in shares of Allegheny Technologies during the 3rd quarter valued at $225,000. MML Investors Services LLC acquired a new stake in shares of Allegheny Technologies during the 3rd quarter valued at $241,000. MAI Capital Management acquired a new stake in shares of Allegheny Technologies during the 2nd quarter valued at $207,000. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of Allegheny Technologies during the 2nd quarter valued at $219,000.
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, 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.
Featured Article: Capital gains and your 401(k) or IRA
Receive News & Ratings for Allegheny Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegheny Technologies and related companies with MarketBeat.com's FREE daily email newsletter.