Shares of Allegheny Technologies Incorporated (NYSE:ATI) have received an average rating of “Hold” from the eleven brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $26.50.
Several analysts have issued reports on the company. Cowen reissued a “hold” rating and issued a $23.00 price target on shares of Allegheny Technologies in a research note on Tuesday, December 12th. KeyCorp reissued a “hold” rating on shares of Allegheny Technologies in a research note on Thursday, November 16th. Berenberg Bank set a $17.00 price target on Allegheny Technologies and gave the company a “hold” rating in a research note on Thursday, October 19th. JPMorgan Chase & Co. lifted their price target on Allegheny Technologies from $18.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Finally, Bank of America reissued a “neutral” rating and issued a $32.00 price target on shares of Allegheny Technologies in a research note on Wednesday, January 24th. They noted that the move was a valuation call.
Shares of Allegheny Technologies (NYSE ATI) traded up $1.10 during trading on Friday, reaching $28.02. The company had a trading volume of 1,865,023 shares, compared to its average volume of 2,281,741. The firm has a market cap of $3,352.72, a P/E ratio of -32.63 and a beta of 2.44. Allegheny Technologies has a twelve month low of $14.54 and a twelve month high of $30.25. 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, January 23rd. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.12. Allegheny Technologies had a positive return on equity of 3.47% and a negative net margin of 2.61%. The firm had revenue of $909.90 million for the quarter, compared to the consensus estimate of $898.22 million. During the same quarter last year, the business posted ($0.04) EPS. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. equities research analysts predict that Allegheny Technologies will post 1.23 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in ATI. Amalgamated Bank grew its holdings in shares of Allegheny Technologies by 1.2% in the 2nd quarter. Amalgamated Bank now owns 15,449 shares of the basic materials company’s stock valued at $263,000 after acquiring an additional 186 shares in the last quarter. Thrivent Financial For Lutherans grew its holdings in shares of Allegheny Technologies by 6.0% in the 2nd quarter. Thrivent Financial For Lutherans now owns 21,930 shares of the basic materials company’s stock valued at $373,000 after acquiring an additional 1,250 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Allegheny Technologies by 1.3% in the 2nd quarter. Northern Trust Corp now owns 2,039,311 shares of the basic materials company’s stock valued at $34,690,000 after acquiring an additional 25,526 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Allegheny Technologies by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 9,137,494 shares of the basic materials company’s stock valued at $155,430,000 after acquiring an additional 55,412 shares in the last quarter. Finally, Voya Investment Management LLC grew its holdings in shares of Allegheny Technologies by 13.6% in the 2nd quarter. Voya Investment Management LLC now owns 49,745 shares of the basic materials company’s stock valued at $846,000 after acquiring an additional 5,955 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.
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About Allegheny Technologies
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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