ValuEngine upgraded shares of Allegheny Technologies (NYSE:ATI) from a sell rating to a hold rating in a research report report published on Wednesday morning.
Several other research analysts have also issued reports on the company. Macquarie began coverage on Allegheny Technologies in a research report on Thursday, February 14th. They issued an outperform rating and a $27.84 target price for the company. Berenberg Bank began coverage on Allegheny Technologies in a research report on Thursday, December 6th. They set a buy rating and a $35.00 price objective for the company. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $33.17.
Shares of NYSE:ATI traded down $0.03 during trading on Wednesday, hitting $25.97. The stock had a trading volume of 5,625 shares, compared to its average volume of 1,516,168. Allegheny Technologies has a 12 month low of $20.84 and a 12 month high of $30.18. The firm has a market capitalization of $3.26 billion, a P/E ratio of 17.23, a P/E/G ratio of 0.94 and a beta of 2.41. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.24 and a current ratio of 2.68.
Allegheny Technologies (NYSE:ATI) last announced its earnings results on Tuesday, January 22nd. The basic materials company reported $0.30 earnings per share (EPS) for the quarter, missing the 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 during the quarter, compared to the consensus estimate of $991.88 million. During the same period in the prior year, the company posted $0.27 EPS. The firm’s revenue was up 14.1% on a year-over-year basis. On average, equities analysts forecast that Allegheny Technologies will post 1.84 EPS for the current fiscal year.
In other Allegheny Technologies news, Director Barabara S. Jeremiah sold 7,500 shares of the stock in a transaction on Thursday, January 24th. The stock was sold at an average price of $25.61, for a total transaction of $192,075.00. Following the sale, the director now directly owns 33,833 shares in the company, valued at approximately $866,463.13. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Richard J. Harshman sold 7,140 shares of the stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $28.99, for a total value of $206,988.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,628 shares of company stock valued at $1,301,542. 1.00% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Marshall Wace LLP purchased a new stake in Allegheny Technologies during the 3rd quarter valued at $2,196,000. Legal & General Group Plc boosted its stake in Allegheny Technologies by 1.0% during the 3rd quarter. Legal & General Group Plc now owns 172,828 shares of the basic materials company’s stock valued at $5,107,000 after purchasing an additional 1,737 shares during the last quarter. MetLife Investment Advisors LLC boosted its stake in shares of Allegheny Technologies by 21.5% in the 3rd quarter. MetLife Investment Advisors LLC now owns 164,227 shares of the basic materials company’s stock worth $4,853,000 after buying an additional 29,019 shares during the last quarter. Mcclain Value Management LLC boosted its stake in shares of Allegheny Technologies by 1.2% in the 4th quarter. Mcclain Value Management LLC now owns 250,772 shares of the basic materials company’s stock worth $5,459,000 after buying an additional 2,870 shares during the last quarter. Finally, LPL Financial LLC purchased a new position in shares of Allegheny Technologies in the 3rd quarter worth $251,000.
About Allegheny Technologies
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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