Allegheny Technologies Target of Unusually High Options Trading (ATI)

Allegheny Technologies Incorporated (NYSE:ATI) was the recipient of some unusual options trading activity on Tuesday. Investors bought 3,642 put options on the stock. This is an increase of 1,437% compared to the average daily volume of 237 put options.

Several equities analysts recently commented on the stock. Cowen raised shares of Allegheny Technologies from a “market perform” rating to an “outperform” rating in a research report on Monday, January 8th. Berenberg Bank set a $17.00 price objective on shares of Allegheny Technologies and gave the company a “hold” rating in a research report on Thursday, October 19th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Allegheny Technologies in a research report on Wednesday, October 11th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Allegheny Technologies presently has a consensus rating of “Hold” and a consensus price target of $21.29.

Allegheny Technologies (ATI) opened at $28.70 on Friday. Allegheny Technologies has a 1 year low of $14.54 and a 1 year high of $29.39. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.04 and a current ratio of 2.68. The stock has a market cap of $3,120.00, a P/E ratio of -35.00 and a beta of 2.39.

Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings results on Tuesday, October 24th. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.07). Allegheny Technologies had a negative net margin of 2.45% and a positive return on equity of 1.09%. The company had revenue of $869.10 million during the quarter, compared to analyst estimates of $866.94 million. During the same period last year, the firm posted ($0.21) EPS. Allegheny Technologies’s revenue for the quarter was up 12.8% compared to the same quarter last year. equities analysts predict that Allegheny Technologies will post 0.32 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Riverhead Capital Management LLC raised its position in Allegheny Technologies by 72.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 8,297 shares of the basic materials company’s stock worth $141,000 after buying an additional 3,497 shares during the last quarter. Strs Ohio purchased a new position in Allegheny Technologies during the 3rd quarter worth approximately $145,000. Flinton Capital Management LLC raised its position in Allegheny Technologies by 70.8% during the 2nd quarter. Flinton Capital Management LLC now owns 9,184 shares of the basic materials company’s stock worth $156,000 after buying an additional 3,808 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Allegheny Technologies by 2.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 9,587 shares of the basic materials company’s stock worth $163,000 after buying an additional 201 shares during the last quarter. Finally, Sciencast Management LP purchased a new position in Allegheny Technologies during the 2nd quarter worth approximately $179,000.

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Allegheny Technologies Company Profile

Allegheny Technologies Incorporated is a manufacturer of specialty materials and complex components. The Company operates through two business segments: High Performance Materials & Components (HPMC), and Flat Rolled Products (FRP). The HPMC segment produces, converts and distributes a range of materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, zirconium and related alloys, including hafnium and niobium, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, plus precision forgings, castings, components and machined parts.

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