ATI (NYSE:ATI) Issues Earnings Results

ATI (NYSE:ATI) announced its earnings results on Tuesday. The basic materials company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06), Briefing.com reports. ATI had a net margin of 8.74% and a return on equity of 23.05%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the company posted $0.55 earnings per share. The firm’s quarterly revenue was up 2.5% on a year-over-year basis.

ATI Stock Performance

ATI opened at $54.19 on Thursday. The firm has a market cap of $6.74 billion, a P/E ratio of 21.25, a PEG ratio of 1.38 and a beta of 1.04. ATI has a 1-year low of $36.70 and a 1-year high of $68.92. The company has a 50 day simple moving average of $63.02 and a two-hundred day simple moving average of $60.20. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.13 and a quick ratio of 1.07.

Insider Buying and Selling

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $61.61, for a total transaction of $1,540,250.00. Following the completion of the transaction, the chairman now owns 511,443 shares in the company, valued at approximately $31,510,003.23. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.05% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on ATI shares. JPMorgan Chase & Co. upped their target price on shares of ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. KeyCorp cut shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Susquehanna reduced their target price on shares of ATI from $75.00 to $70.00 and set a “positive” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft upped their target price on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Benchmark reaffirmed a “buy” rating and set a $80.00 target price on shares of ATI in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, ATI currently has an average rating of “Moderate Buy” and a consensus target price of $73.71.

ATI declared that its board has authorized a share buyback program on Tuesday, September 3rd that permits the company to repurchase $700.00 million in shares. This repurchase authorization permits the basic materials company to repurchase up to 9.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.