Allegheny Technologies Incorporated (ATI) Receives Consensus Recommendation of “Buy” from Analysts

Allegheny Technologies Incorporated (NYSE:ATI) has been given a consensus recommendation of “Buy” by the thirteen research firms that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $33.90.

ATI has been the subject of several research reports. Macquarie lowered Allegheny Technologies from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $34.00 to $28.00 in a research note on Friday, April 12th. ValuEngine lowered Allegheny Technologies from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. Zacks Investment Research upgraded Allegheny Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. Finally, Buckingham Research set a $45.00 price objective on Allegheny Technologies and gave the stock a “buy” rating in a research note on Monday, April 8th.

In other news, insider Richard J. Harshman sold 7,140 shares of the company’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $28.99, for a total value of $206,988.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barabara S. Jeremiah sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, January 24th. The shares were sold at an average price of $25.61, for a total value of $192,075.00. Following the completion of the sale, the director now owns 33,833 shares of the company’s stock, valued at $866,463.13. The disclosure for this sale can be found here. Insiders sold 45,628 shares of company stock valued at $1,301,542 over the last 90 days. Company insiders own 1.06% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Shine Investment Advisory Services Inc. lifted its holdings in Allegheny Technologies by 123.5% in the first quarter. Shine Investment Advisory Services Inc. now owns 1,133 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 626 shares during the last quarter. Private Capital Group LLC lifted its holdings in Allegheny Technologies by 336.2% in the fourth quarter. Private Capital Group LLC now owns 1,348 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 1,039 shares during the last quarter. Quantamental Technologies LLC acquired a new position in Allegheny Technologies in the fourth quarter valued at approximately $41,000. Pearl River Capital LLC acquired a new position in Allegheny Technologies in the fourth quarter valued at approximately $48,000. Finally, Whittier Trust Co. acquired a new position in Allegheny Technologies in the fourth quarter valued at approximately $59,000.

NYSE:ATI traded up $0.04 during trading hours on Wednesday, hitting $26.05. 1,153,984 shares of the stock were exchanged, compared to its average volume of 1,612,152. Allegheny Technologies has a 52-week low of $20.84 and a 52-week high of $30.18. The company has a current ratio of 2.68, a quick ratio of 1.24 and a debt-to-equity ratio of 0.77. The firm has a market cap of $3.28 billion, a P/E ratio of 17.25, a price-to-earnings-growth ratio of 0.99 and a beta of 2.39.

Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings data on Tuesday, January 22nd. The basic materials company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.03). Allegheny Technologies had a return on equity of 10.28% and a net margin of 5.50%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $991.88 million. During the same quarter last year, the firm posted $0.27 earnings per share. Allegheny Technologies’s quarterly revenue was up 14.1% on a year-over-year basis. On average, research analysts forecast that Allegheny Technologies will post 1.76 earnings per share for the current year.

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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