Allegheny Technologies Incorporated (NYSE:ATI) – Equities researchers at Seaport Global Securities boosted their Q1 2017 earnings estimates for Allegheny Technologies in a report released on Wednesday. Seaport Global Securities analyst J. Sullivan now expects that the firm will earn $0.07 per share for the quarter, up from their prior forecast of ($0.05). Seaport Global Securities currently has a “Neutral” rating and a $18.00 target price on the stock. Seaport Global Securities also issued estimates for Allegheny Technologies’ Q2 2017 earnings at $0.11 EPS, Q3 2017 earnings at $0.15 EPS and FY2017 earnings at $0.54 EPS.
Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings data on Tuesday, January 24th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.07. Allegheny Technologies had a negative return on equity of 6.15% and a negative net margin of 20.45%. The firm earned $796 million during the quarter, compared to the consensus estimate of $800.11 million. During the same quarter in the previous year, the company posted ($0.56) EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year.
ATI has been the topic of several other research reports. Buckingham Research reaffirmed a “buy” rating and issued a $21.00 target price on shares of Allegheny Technologies in a research report on Monday, October 10th. Deutsche Bank AG downgraded Allegheny Technologies from a “buy” rating to a “hold” rating and decreased their target price for the company from $20.00 to $17.00 in a research report on Wednesday, October 26th. Bank of America Corp downgraded Allegheny Technologies from a “buy” rating to an “underperform” rating and set a $16.00 target price on the stock. in a research report on Friday, January 20th. Finally, Berenberg Bank set a $14.00 target price on Allegheny Technologies and gave the company a “hold” rating in a research report on Monday, October 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $19.67.
Shares of Allegheny Technologies (NYSE:ATI) traded up 1.77% during trading on Friday, reaching $21.88. The company’s stock had a trading volume of 2,704,746 shares. The firm’s 50-day moving average is $17.24 and its 200 day moving average is $16.83. The company’s market cap is $2.38 billion. Allegheny Technologies has a 52-week low of $8.04 and a 52-week high of $23.69.
A number of large investors have recently added to or reduced their stakes in ATI. Advisor Partners LLC acquired a new stake in Allegheny Technologies during the second quarter valued at $130,000. LS Investment Advisors LLC boosted its stake in Allegheny Technologies by 7.7% in the third quarter. LS Investment Advisors LLC now owns 7,499 shares of the company’s stock valued at $136,000 after buying an additional 533 shares during the last quarter. Bank of Montreal Can boosted its stake in Allegheny Technologies by 43.3% in the third quarter. Bank of Montreal Can now owns 8,341 shares of the company’s stock valued at $150,000 after buying an additional 2,522 shares during the last quarter. Bessemer Group Inc. boosted its stake in Allegheny Technologies by 22.5% in the second quarter. Bessemer Group Inc. now owns 13,755 shares of the company’s stock valued at $175,000 after buying an additional 2,530 shares during the last quarter. Finally, HRT Financial LLC acquired a new stake in Allegheny Technologies during the second quarter valued at $177,000. Hedge funds and other institutional investors own 91.79% of the company’s stock.
About Allegheny Technologies
Allegheny Technologies Incorporated (ATI) is a specialty materials and components producer. The Company operates through two business segments: High Performance Materials & Components and Flat Rolled Products. ATI’s products include titanium and titanium alloys, nickel-based alloys and specialty steels, precision forgings, castings and machined components, zirconium and related alloys, precision and engineered stainless steel strip, and grain-oriented electrical steel.