Allegheny Technologies Incorporated (NYSE:ATI) – Stock analysts at KeyCorp boosted their Q1 2018 earnings estimates for shares of Allegheny Technologies in a research note issued on Thursday. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will earn $0.23 per share for the quarter, up from their prior forecast of $0.16. KeyCorp has a “Overweight” rating and a $31.00 price target on the stock. KeyCorp also issued estimates for Allegheny Technologies’ FY2018 earnings at $1.36 EPS.
A number of other brokerages have also recently issued reports on ATI. Cowen reaffirmed a “buy” rating and issued a $32.00 target price on shares of Allegheny Technologies in a report on Tuesday, January 23rd. Bank of America reaffirmed a “neutral” rating and issued a $32.00 target price on shares of Allegheny Technologies in a report on Wednesday, January 24th. They noted that the move was a valuation call. Buckingham Research upped their target price on Allegheny Technologies from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 26th. JPMorgan Chase & Co. upped their target price on Allegheny Technologies from $18.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Finally, Zacks Investment Research cut Allegheny Technologies from a “hold” rating to a “sell” rating in a report on Monday, January 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Allegheny Technologies has an average rating of “Hold” and an average price target of $27.00.
Allegheny Technologies (NYSE:ATI) opened at $27.71 on Monday. Allegheny Technologies has a fifty-two week low of $14.54 and a fifty-two week high of $30.25. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.69 and a quick ratio of 1.04. The stock has a market capitalization of $3,392.85, a PE ratio of 60.00 and a beta of 2.37.
Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings results on Tuesday, January 23rd. The basic materials company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. Allegheny Technologies had a positive return on equity of 3.47% and a negative net margin of 2.61%. The company had revenue of $909.90 million during the quarter, compared to analysts’ expectations of $898.22 million. During the same quarter in the previous year, the firm earned ($0.04) EPS. Allegheny Technologies’s revenue was up 14.3% on a year-over-year basis.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATI. Frontier Capital Management Co. LLC grew its position in shares of Allegheny Technologies by 35.7% in the 4th quarter. Frontier Capital Management Co. LLC now owns 7,848,107 shares of the basic materials company’s stock valued at $189,453,000 after buying an additional 2,065,137 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Allegheny Technologies by 90.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,308,042 shares of the basic materials company’s stock valued at $31,264,000 after buying an additional 622,591 shares during the last quarter. Emerald Advisers Inc. PA grew its position in shares of Allegheny Technologies by 190.9% in the 4th quarter. Emerald Advisers Inc. PA now owns 941,793 shares of the basic materials company’s stock valued at $22,735,000 after buying an additional 618,060 shares during the last quarter. Anchor Bolt Capital LP bought a new stake in shares of Allegheny Technologies in the 3rd quarter valued at about $14,174,000. Finally, Millennium Management LLC grew its position in shares of Allegheny Technologies by 15.9% in the 4th quarter. Millennium Management LLC now owns 3,177,259 shares of the basic materials company’s stock valued at $76,699,000 after buying an additional 436,832 shares during the last quarter.
Allegheny Technologies Company Profile
Allegheny Technologies Incorporated is a manufacturer of specialty materials and complex components. The Company operates through two business segments: High Performance Materials & Components (HPMC), and Flat Rolled Products (FRP). The HPMC segment produces, converts and distributes a range of materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, zirconium and related alloys, including hafnium and niobium, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, plus precision forgings, castings, components and machined parts.