ATI (NYSE:ATI) Downgraded to Sell Rating by StockNews.com

StockNews.com cut shares of ATI (NYSE:ATI) from a hold rating to a sell rating in a report released on Thursday morning.

A number of other research firms also recently commented on ATI. Susquehanna dropped their price target on ATI from $75.00 to $70.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. KeyCorp downgraded shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, ATI has a consensus rating of “Hold” and a consensus price target of $73.71.

ATI Trading Up 0.2 %

ATI stock opened at $55.61 on Thursday. ATI has a 52 week low of $38.04 and a 52 week high of $68.92. The company has a market capitalization of $7.93 billion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. The company’s 50-day simple moving average is $56.93 and its 200 day simple moving average is $60.08. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.94.

ATI (NYSE:ATI) last released its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.12 billion. ATI had a net margin of 8.85% and a return on equity of 21.39%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 earnings per share. As a group, sell-side analysts anticipate that ATI will post 2.27 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Tina Killough Busch sold 2,598 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $60.02, for a total value of $155,931.96. Following the completion of the sale, the senior vice president now directly owns 21,553 shares in the company, valued at $1,293,611.06. This represents a 10.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $58.99, for a total value of $1,474,750.00. Following the transaction, the chairman now owns 436,443 shares of the company’s stock, valued at $25,745,772.57. This trade represents a 5.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,598 shares of company stock valued at $3,186,432 in the last 90 days. Corporate insiders own 0.71% of the company’s stock.

Institutional Trading of ATI

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC bought a new stake in shares of ATI in the 3rd quarter valued at $3,088,000. Franklin Resources Inc. boosted its position in ATI by 16.2% during the third quarter. Franklin Resources Inc. now owns 445,746 shares of the basic materials company’s stock valued at $27,993,000 after acquiring an additional 61,999 shares during the last quarter. Geode Capital Management LLC grew its holdings in ATI by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,952,934 shares of the basic materials company’s stock worth $130,709,000 after acquiring an additional 5,165 shares during the period. MML Investors Services LLC raised its position in shares of ATI by 16.7% in the 3rd quarter. MML Investors Services LLC now owns 6,311 shares of the basic materials company’s stock worth $422,000 after acquiring an additional 904 shares in the last quarter. Finally, Orion Portfolio Solutions LLC lifted its stake in shares of ATI by 8.3% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 8,300 shares of the basic materials company’s stock valued at $555,000 after purchasing an additional 633 shares during the period.

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.