Analysts Set Allegheny Technologies Incorporated (ATI) Target Price at $26.50

Shares of Allegheny Technologies Incorporated (NYSE:ATI) have been given an average recommendation of “Hold” by the eleven research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $26.50.

Several brokerages have issued reports on ATI. Cowen restated a “hold” rating and set a $23.00 price objective on shares of Allegheny Technologies in a research report on Tuesday, December 12th. Berenberg Bank set a $17.00 price objective on shares of Allegheny Technologies and gave the stock a “hold” rating in a research report on Thursday, October 19th. Zacks Investment Research downgraded shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a research report on Monday, January 15th. JPMorgan Chase & Co. raised their price objective on shares of Allegheny Technologies from $18.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Finally, KeyCorp restated a “hold” rating on shares of Allegheny Technologies in a research report on Thursday, November 16th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank raised its position in shares of Allegheny Technologies by 1.2% in the second quarter. Amalgamated Bank now owns 15,449 shares of the basic materials company’s stock valued at $263,000 after buying an additional 186 shares in the last quarter. Moors & Cabot Inc. raised its position in shares of Allegheny Technologies by 9.4% in the second quarter. Moors & Cabot Inc. now owns 13,347 shares of the basic materials company’s stock valued at $229,000 after buying an additional 1,150 shares in the last quarter. Thrivent Financial For Lutherans raised its position in shares of Allegheny Technologies by 6.0% in the second quarter. Thrivent Financial For Lutherans now owns 21,930 shares of the basic materials company’s stock valued at $373,000 after buying an additional 1,250 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Allegheny Technologies by 42.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,625 shares of the basic materials company’s stock valued at $184,000 after buying an additional 2,269 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. raised its position in shares of Allegheny Technologies by 5.9% in the third quarter. Bbva Compass Bancshares Inc. now owns 45,239 shares of the basic materials company’s stock valued at $1,082,000 after buying an additional 2,530 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Allegheny Technologies (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 company has a debt-to-equity ratio of 0.83, a current ratio of 2.69 and a quick ratio of 1.04. The company has a market capitalization of $3,352.72, a PE ratio of -32.63 and a beta of 2.44. 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 issued its quarterly earnings data on Tuesday, January 23rd. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.12. The firm had revenue of $909.90 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the business posted ($0.04) earnings per share. sell-side analysts anticipate that Allegheny Technologies will post 1.23 earnings per share for the current year.

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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.

Analyst Recommendations for Allegheny Technologies (NYSE:ATI)

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