ATI (NYSE:ATI) Releases Earnings Results

ATI (NYSE:ATI) announced its earnings results on Tuesday. The basic materials company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.19, Zacks reports. ATI had a net margin of 8.85% and a return on equity of 21.39%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis.

ATI Stock Up 9.8 %

Shares of NYSE ATI opened at $63.65 on Wednesday. The stock has a market cap of $9.08 billion, a P/E ratio of 24.48, a P/E/G ratio of 1.52 and a beta of 1.10. The firm has a 50 day moving average price of $57.03 and a 200 day moving average price of $60.16. 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 has a 52-week low of $38.08 and a 52-week high of $68.92.

Insider Activity at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $58.99, for a total value of $1,474,750.00. Following the completion of the transaction, the chairman now owns 436,443 shares in the company, valued at $25,745,772.57. This represents a 5.42 % 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. Also, SVP Tina Killough Busch sold 2,598 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $60.02, for a total transaction of $155,931.96. Following the completion of the transaction, the senior vice president now owns 21,553 shares of the company’s stock, valued at $1,293,611.06. This trade represents a 10.76 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on ATI shares. StockNews.com cut shares of ATI from a “hold” rating to a “sell” rating in a research report on Wednesday, January 29th. Susquehanna lowered their price target on shares of ATI from $75.00 to $70.00 and set a “positive” rating for the company in a research report on Wednesday, October 30th. Finally, KeyCorp cut shares of ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $73.71.

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.