Cfra Upgrades Allegheny Technologies (NYSE:ATI) to Buy

Share on StockTwits

Cfra upgraded shares of Allegheny Technologies (NYSE:ATI) from a hold rating to a buy rating in a report issued on Thursday, October 31st, The Fly reports.

Several other equities research analysts have also recently weighed in on the stock. TheStreet cut shares of Allegheny Technologies from a b- rating to a c+ rating in a research report on Thursday, August 22nd. Barclays reissued a buy rating and set a $31.00 price target on shares of Allegheny Technologies in a research report on Wednesday, July 31st. ValuEngine raised shares of Allegheny Technologies from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Buckingham Research dropped their target price on shares of Allegheny Technologies from $27.00 to $21.00 and set a neutral rating for the company in a research report on Wednesday, September 25th. Finally, Cowen reaffirmed a buy rating and issued a $32.00 target price on shares of Allegheny Technologies in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $27.25.

ATI traded down $0.09 during trading on Thursday, hitting $23.70. 1,180,497 shares of the stock traded hands, compared to its average volume of 1,599,764. The firm has a market capitalization of $2.98 billion, a P/E ratio of 15.70, a price-to-earnings-growth ratio of 1.25 and a beta of 2.29. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.17 and a quick ratio of 1.64. The firm has a 50-day moving average of $20.67 and a 200 day moving average of $22.02. Allegheny Technologies has a 12-month low of $17.03 and a 12-month high of $29.50.

Allegheny Technologies (NYSE:ATI) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.45. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Allegheny Technologies had a net margin of 5.85% and a return on equity of 7.38%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.37 EPS. As a group, equities analysts predict that Allegheny Technologies will post 1.22 EPS for the current fiscal year.

In other Allegheny Technologies news, insider Robert S. Wetherbee purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average cost of $18.36 per share, for a total transaction of $91,800.00. Following the purchase, the insider now directly owns 113,335 shares in the company, valued at $2,080,830.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Kevin B. Kramer purchased 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average price of $17.68 per share, with a total value of $44,200.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 12,400 shares of company stock valued at $222,680. Corporate insiders own 1.06% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC bought a new stake in Allegheny Technologies during the 2nd quarter valued at about $64,000. Trustcore Financial Services LLC increased its stake in Allegheny Technologies by 1,470.0% during the 3rd quarter. Trustcore Financial Services LLC now owns 3,140 shares of the basic materials company’s stock valued at $64,000 after purchasing an additional 2,940 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Allegheny Technologies by 35.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,830 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 1,000 shares in the last quarter. Pearl River Capital LLC increased its stake in Allegheny Technologies by 992.3% during the 2nd quarter. Pearl River Capital LLC now owns 4,544 shares of the basic materials company’s stock valued at $115,000 after purchasing an additional 4,128 shares in the last quarter. Finally, Atria Investments LLC bought a new stake in Allegheny Technologies during the 2nd quarter valued at about $6,890,000.

Allegheny Technologies Company Profile

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.

Recommended Story: Average Daily Trade Volume – What It Means In Stock Trading

The Fly

Analyst Recommendations for Allegheny Technologies (NYSE:ATI)

Receive News & Ratings for Allegheny Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegheny Technologies and related companies with MarketBeat.com's FREE daily email newsletter.