ATI (NYSE:ATI) Updates Q4 2024 Earnings Guidance

ATI (NYSE:ATI) updated its fourth quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 0.560-0.620 for the period, compared to the consensus earnings per share estimate of 0.730. The company issued revenue guidance of -. ATI also updated its FY 2024 guidance to 2.240-2.300 EPS.

Analysts Set New Price Targets

A number of research firms have weighed in on ATI. Benchmark reiterated a “buy” rating and issued a $80.00 target price on shares of ATI in a research note on Wednesday, August 7th. Susquehanna cut their price target on ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research note on Wednesday. KeyCorp lowered ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft raised their price target on ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. raised their price target on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $73.71.

ATI Stock Down 3.4 %

ATI traded down $1.94 on Wednesday, hitting $54.88. The company had a trading volume of 1,816,334 shares, compared to its average volume of 1,435,384. The stock has a fifty day moving average price of $63.24 and a 200-day moving average price of $60.24. ATI has a 12-month low of $36.70 and a 12-month high of $68.92. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.07 and a current ratio of 2.13. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of 22.03, a P/E/G ratio of 1.38 and a beta of 1.04.

ATI (NYSE:ATI) last posted its earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.06). ATI had a net margin of 8.74% and a return on equity of 23.05%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the firm earned $0.55 EPS. ATI’s revenue for the quarter was up 2.5% on a year-over-year basis. Analysts predict that ATI will post 2.47 EPS for the current fiscal year.

ATI announced that its board has approved a share buyback program on Tuesday, September 3rd that permits the company to buyback $700.00 million in shares. This buyback authorization permits the basic materials company to buy up to 9.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total value of $1,555,750.00. Following the sale, the chairman now directly owns 486,443 shares of the company’s stock, valued at $30,271,347.89. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.05% 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.