Analysts at Goldman Sachs initiated coverage on shares of Allegheny Technologies (NYSE:ATI) in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm set a “sell” rating and a $26.00 price target on the basic materials company’s stock. Goldman Sachs’ target price indicates a potential upside of 0.97% from the stock’s current price.
Other equities research analysts also recently issued research reports about the stock. Bank of America upgraded shares of Allegheny Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $25.61 to $32.00 in a research note on Friday, March 2nd. They noted that the move was a valuation call. Buckingham Research boosted their target price on shares of Allegheny Technologies from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Cowen restated a “buy” rating and issued a $32.00 target price on shares of Allegheny Technologies in a research note on Tuesday, January 23rd. JPMorgan Chase & Co. boosted their target price on shares of Allegheny Technologies from $18.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Finally, KeyCorp upgraded shares of Allegheny Technologies from a “sector weight” rating to an “overweight” rating and set a $31.00 target price on the stock in a research note on Thursday, March 1st. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $28.38.
Shares of Allegheny Technologies (NYSE ATI) opened at $25.75 on Tuesday. The stock has a market cap of $3,342.58, a price-to-earnings ratio of -29.94 and a beta of 2.37. The company has a quick ratio of 1.04, a current ratio of 2.69 and a debt-to-equity ratio of 0.83. Allegheny Technologies has a fifty-two week low of $14.54 and a fifty-two week high of $30.25.
Allegheny Technologies (NYSE:ATI) last announced 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. The firm had revenue of $909.90 million for the quarter, compared to analyst estimates of $898.22 million. Allegheny Technologies had a negative net margin of 2.61% and a positive return on equity of 3.47%. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.04) EPS. equities research analysts forecast that Allegheny Technologies will post 1.26 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the company. Advisory Services Network LLC lifted its position in Allegheny Technologies by 19,684.8% during the 4th quarter. Advisory Services Network LLC now owns 6,529 shares of the basic materials company’s stock worth $158,000 after buying an additional 6,496 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Allegheny Technologies during the 3rd quarter worth about $181,000. Global X Management Co. LLC lifted its position in Allegheny Technologies by 75.3% during the 4th quarter. Global X Management Co. LLC now owns 7,579 shares of the basic materials company’s stock worth $183,000 after buying an additional 3,255 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Allegheny Technologies by 42.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,625 shares of the basic materials company’s stock worth $184,000 after buying an additional 2,269 shares in the last quarter. Finally, Fernwood Investment Management LLC acquired a new position in Allegheny Technologies during the 3rd quarter worth about $213,000.
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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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