Allegheny Technologies (NYSE:ATI) Sees Large Volume Increase

Shares of Allegheny Technologies Incorporated (NYSE:ATI) saw unusually-strong trading volume on Monday . Approximately 1,250,998 shares traded hands during trading, a decline of 19% from the previous session’s volume of 1,544,651 shares.The stock last traded at $23.56 and had previously closed at $23.06.

A number of analysts recently issued reports on the company. KeyCorp lowered their price target on Allegheny Technologies from $33.00 to $28.00 and set an “overweight” rating for the company in a report on Monday, October 14th. ValuEngine upgraded Allegheny Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Longbow Research downgraded Allegheny Technologies from a “neutral” rating to an “underperform” rating and set a $18.00 price objective on the stock. in a report on Tuesday, October 15th. Cowen reaffirmed a “buy” rating and set a $32.00 target price on shares of Allegheny Technologies in a research report on Monday, August 12th. Finally, TheStreet upgraded Allegheny Technologies from a “c+” rating to a “b” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Allegheny Technologies currently has a consensus rating of “Hold” and a consensus target price of $27.25.

The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.64 and a current ratio of 3.17. The firm has a market cap of $2.91 billion, a P/E ratio of 15.50, a price-to-earnings-growth ratio of 1.29 and a beta of 2.31. The firm’s fifty day moving average price is $22.06 and its 200 day moving average price is $21.88.

Allegheny Technologies (NYSE:ATI) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.45. Allegheny Technologies had a net margin of 5.85% and a return on equity of 7.38%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the company earned $0.37 EPS. The company’s revenue was down .1% compared to the same quarter last year. As a group, analysts expect that Allegheny Technologies Incorporated will post 1.19 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the stock. First Trust Advisors LP acquired a new stake in Allegheny Technologies during the 1st quarter worth about $3,043,000. Nisa Investment Advisors LLC raised its position in Allegheny Technologies by 35.3% in the second quarter. Nisa Investment Advisors LLC now owns 3,830 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 1,000 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Allegheny Technologies by 1.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 50,955 shares of the basic materials company’s stock worth $1,284,000 after buying an additional 718 shares during the period. Arizona State Retirement System grew its position in shares of Allegheny Technologies by 1.4% in the 2nd quarter. Arizona State Retirement System now owns 91,473 shares of the basic materials company’s stock valued at $2,305,000 after buying an additional 1,224 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of Allegheny Technologies in the 2nd quarter valued at about $231,000.

Allegheny Technologies Company Profile (NYSE:ATI)

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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