ATI (NYSE:ATI) Updates Q2 Earnings Guidance

ATI (NYSE:ATI) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.54-0.60 for the period, compared to the consensus earnings per share estimate of $0.52. ATI also updated its FY 2024 guidance to 2.300-2.600 EPS.

Analysts Set New Price Targets

ATI has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of ATI in a research note on Thursday, April 11th. They set a buy rating and a $70.00 price target on the stock. TheStreet upgraded ATI from a c+ rating to a b- rating in a research note on Friday, January 26th. Finally, KeyCorp raised their price objective on ATI from $56.00 to $58.00 and gave the company an overweight rating in a research note on Monday, April 22nd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $56.00.

ATI Stock Down 0.9 %

Shares of ATI traded down $0.55 during midday trading on Thursday, hitting $58.30. The company had a trading volume of 788,103 shares, compared to its average volume of 1,349,328. The stock has a market cap of $7.25 billion, a price-to-earnings ratio of 23.63, a PEG ratio of 1.69 and a beta of 1.16. The company’s 50 day moving average price is $50.29 and its 200 day moving average price is $45.00. The company has a quick ratio of 1.53, a current ratio of 2.81 and a debt-to-equity ratio of 1.56. ATI has a 52 week low of $34.10 and a 52 week high of $61.58.

ATI (NYSE:ATI) last posted its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. ATI had a return on equity of 23.72% and a net margin of 8.70%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the firm earned $0.49 earnings per share. On average, equities research analysts predict that ATI will post 2.26 EPS for the current year.

Insider Transactions at ATI

In related news, VP Timothy J. Harris sold 6,325 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $42.44, for a total transaction of $268,433.00. Following the sale, the vice president now directly owns 109,331 shares of the company’s stock, valued at approximately $4,640,007.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.71% of the company’s stock.

About ATI

ATI Inc produces and sells specialty materials and complex components worldwide. It operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, metallic powder alloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.