ATI (NYSE:ATI) Stock Price Down 5.7% – Here’s Why

ATI Inc. (NYSE:ATI) traded down 5.7% during trading on Friday . The company traded as low as $54.36 and last traded at $53.98. 216,729 shares traded hands during trading, a decline of 85% from the average session volume of 1,407,922 shares. The stock had previously closed at $57.24.

Analyst Upgrades and Downgrades

ATI has been the subject of a number of research analyst reports. Susquehanna boosted their price target on ATI from $70.00 to $73.00 and gave the company a “positive” rating in a report on Wednesday, February 5th. Benchmark increased their price target on ATI from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Barclays boosted their price objective on ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, StockNews.com raised ATI from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $75.00.

ATI Stock Performance

The firm has a fifty day simple moving average of $58.24 and a 200-day simple moving average of $59.63. The company has a current ratio of 2.44, a quick ratio of 1.32 and a debt-to-equity ratio of 0.88. The stock has a market cap of $7.87 billion, a price-to-earnings ratio of 21.71, a P/E/G ratio of 0.85 and a beta of 1.14.

ATI (NYSE:ATI) last announced its quarterly earnings results on Tuesday, February 4th. The basic materials company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.19. ATI had a return on equity of 21.16% and a net margin of 8.43%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the business posted $0.64 EPS. ATI’s revenue was up 10.2% on a year-over-year basis. Analysts forecast that ATI Inc. will post 2.89 EPS for the current fiscal year.

Insider Activity at ATI

In other news, SVP Tina Killough Busch sold 9,900 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $66.41, for a total value of $657,459.00. Following the completion of the transaction, the senior vice president now owns 25,994 shares in the company, valued at $1,726,261.54. This represents a 27.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ATI

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ORG Wealth Partners LLC bought a new stake in shares of ATI in the fourth quarter valued at about $25,000. Quarry LP grew its stake in shares of ATI by 86.4% during the 3rd quarter. Quarry LP now owns 889 shares of the basic materials company’s stock worth $59,000 after acquiring an additional 412 shares in the last quarter. Mainstream Capital Management LLC bought a new stake in shares of ATI in the fourth quarter worth $94,000. EverSource Wealth Advisors LLC boosted its holdings in ATI by 20.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,729 shares of the basic materials company’s stock worth $95,000 after purchasing an additional 288 shares during the last quarter. Finally, Park Square Financial Group LLC bought a new position in ATI in the fourth quarter valued at $108,000.

ATI Company Profile

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.