Allegheny Technologies (ATI) Given New $40.00 Price Target at Buckingham Research

Allegheny Technologies (NYSE:ATI) had its price target reduced by Buckingham Research from $45.00 to $40.00 in a research report report published on Thursday, BenzingaRatingsTable reports. They currently have a buy rating on the basic materials company’s stock.

Other analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Allegheny Technologies from a sell rating to a hold rating in a report on Tuesday, April 9th. ValuEngine raised shares of Allegheny Technologies from a sell rating to a hold rating in a report on Wednesday, March 20th. Finally, Macquarie lowered shares of Allegheny Technologies from an outperform rating to a neutral rating and lowered their price target for the company from $34.00 to $28.00 in a report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $32.91.

NYSE:ATI opened at $25.72 on Thursday. Allegheny Technologies has a 1 year low of $20.84 and a 1 year high of $30.18. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.68 and a quick ratio of 1.24. The company has a market capitalization of $3.24 billion, a PE ratio of 17.03, a PEG ratio of 1.02 and a beta of 2.39.

Allegheny Technologies (NYSE:ATI) last posted its earnings results on Tuesday, January 22nd. The basic materials company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). Allegheny Technologies had a net margin of 5.50% and a return on equity of 10.28%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $991.88 million. During the same quarter last year, the firm posted $0.27 EPS. The business’s revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Allegheny Technologies will post 1.69 EPS for the current year.

In other Allegheny Technologies news, insider Richard J. Harshman sold 20,208 shares of Allegheny Technologies stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $29.12, for a total transaction of $588,456.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Barabara S. Jeremiah sold 7,500 shares of Allegheny Technologies stock in a transaction on Thursday, January 24th. The stock was sold at an average price of $25.61, for a total transaction of $192,075.00. Following the sale, the director now directly owns 33,833 shares of the company’s stock, valued at approximately $866,463.13. The disclosure for this sale can be found here. In the last three months, insiders sold 45,628 shares of company stock valued at $1,301,542. 1.06% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATI. Oregon Public Employees Retirement Fund grew its holdings in Allegheny Technologies by 2,107.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,093,659 shares of the basic materials company’s stock worth $50,000 after acquiring an additional 1,044,119 shares during the period. Rothschild & Co. Asset Management US Inc. acquired a new stake in Allegheny Technologies during the 4th quarter worth $22,239,000. Norges Bank acquired a new stake in Allegheny Technologies during the 4th quarter worth $21,181,000. Dimensional Fund Advisors LP grew its holdings in Allegheny Technologies by 15.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,424,729 shares of the basic materials company’s stock worth $96,329,000 after acquiring an additional 591,706 shares during the period. Finally, Boston Partners grew its holdings in Allegheny Technologies by 130.8% during the 4th quarter. Boston Partners now owns 781,500 shares of the basic materials company’s stock worth $17,013,000 after acquiring an additional 442,920 shares during the period.

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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Analyst Recommendations for Allegheny Technologies (NYSE:ATI)

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