Allegheny Technologies Incorporated (NYSE:ATI) – Stock analysts at KeyCorp boosted their Q2 2019 earnings per share estimates for shares of Allegheny Technologies in a research note issued to investors on Wednesday, July 10th. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will post earnings per share of $0.39 for the quarter, up from their prior forecast of $0.36. KeyCorp has a “Overweight” rating and a $34.00 price objective on the stock. KeyCorp also issued estimates for Allegheny Technologies’ Q3 2019 earnings at $0.45 EPS and Q4 2019 earnings at $0.56 EPS.
Allegheny Technologies (NYSE:ATI) last issued its earnings results on Tuesday, April 23rd. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $991.18 million. Allegheny Technologies had a net margin of 4.41% and a return on equity of 8.79%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 EPS.
Several other brokerages have also issued reports on ATI. Macquarie lowered shares of TAL Education Group from an “outperform” rating to a “neutral” rating in a research note on Friday, April 12th. Zacks Investment Research lowered shares of Glu Mobile from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. ValuEngine raised shares of YPF from a “sell” rating to a “hold” rating in a research note on Monday, June 24th. Finally, Buckingham Research reduced their target price on shares of American Axle & Manufact. from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Allegheny Technologies currently has a consensus rating of “Buy” and a consensus price target of $32.20.
Shares of NYSE ATI opened at $24.84 on Friday. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 1.08 and a beta of 2.34. The company has a quick ratio of 1.22, a current ratio of 2.87 and a debt-to-equity ratio of 0.75. Allegheny Technologies has a 1 year low of $20.84 and a 1 year high of $30.18. The company has a 50-day simple moving average of $23.91.
Large investors have recently made changes to their positions in the stock. Moors & Cabot Inc. acquired a new stake in shares of Allegheny Technologies in the 1st quarter valued at approximately $272,000. FinTrust Capital Advisors LLC acquired a new stake in Allegheny Technologies during the 1st quarter worth approximately $64,000. Monarch Partners Asset Management LLC acquired a new stake in Allegheny Technologies during the 1st quarter worth approximately $9,256,000. Jennison Associates LLC acquired a new stake in Allegheny Technologies during the 1st quarter worth approximately $768,000. Finally, Nuveen Asset Management LLC raised its holdings in Allegheny Technologies by 18.1% during the 4th quarter. Nuveen Asset Management LLC now owns 1,388,324 shares of the basic materials company’s stock worth $30,224,000 after buying an additional 212,395 shares during the period.
In related news, Director James C. Diggs sold 4,000 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $23.65, for a total value of $94,600.00. Following the sale, the director now directly owns 36,458 shares in the company, valued at approximately $862,231.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.06% of the company’s stock.
Allegheny Technologies Company Profile
Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates through two segments, High Performance Materials & Components, and Flat-Rolled Products. The High Performance Materials & Components segment produces high performance materials, including titanium and titanium-based alloys; nickel-and cobalt-based alloys and superalloys; zirconium and related alloys, such as hafnium and niobium; powder alloys; and other specialty materials in long product forms of ingots, billets, bars, rods, wires, and shapes and rectangles, as well as seamless tubes, plus precision forgings, castings, components, and machined parts.
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