Allegheny Technologies (NYSE:ATI) Trading Up 5.7%

Allegheny Technologies Incorporated (NYSE:ATI) shares were up 5.7% during trading on Thursday . The company traded as high as $9.23 and last traded at $9.22. Approximately 1,937,261 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 2,760,201 shares. The stock had previously closed at $8.72.

A number of research analysts recently commented on ATI shares. Barclays upped their price objective on Allegheny Technologies from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Thursday, September 10th. ValuEngine upgraded Allegheny Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, September 16th. Cowen cut Allegheny Technologies from an “outperform” rating to a “market perform” rating and set a $11.00 price objective on the stock. in a report on Thursday, August 13th. Bank of America cut Allegheny Technologies from a “buy” rating to an “underperform” rating in a report on Monday, June 8th. Finally, TheStreet cut Allegheny Technologies from a “c” rating to a “d” rating in a report on Tuesday, August 4th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $16.56.

The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -4.61 and a beta of 1.77. The firm’s 50 day moving average price is $8.95 and its two-hundred day moving average price is $8.86. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.58 and a quick ratio of 1.79.

Allegheny Technologies (NYSE:ATI) last announced its quarterly earnings data on Tuesday, August 4th. The basic materials company reported ($0.02) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.08. The firm had revenue of $770.30 million during the quarter, compared to the consensus estimate of $755.09 million. Allegheny Technologies had a negative net margin of 6.22% and a positive return on equity of 5.61%. The firm’s revenue was down 28.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 earnings per share. On average, analysts anticipate that Allegheny Technologies Incorporated will post -0.74 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of ATI. Private Advisor Group LLC purchased a new position in Allegheny Technologies in the second quarter valued at about $40,000. Northwestern Mutual Wealth Management Co. increased its holdings in Allegheny Technologies by 125.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 6,316 shares of the basic materials company’s stock valued at $54,000 after buying an additional 3,517 shares in the last quarter. Beese Fulmer Investment Management Inc. purchased a new position in Allegheny Technologies in the second quarter valued at about $56,000. Public Employees Retirement System of Ohio increased its holdings in Allegheny Technologies by 33.5% in the second quarter. Public Employees Retirement System of Ohio now owns 8,515 shares of the basic materials company’s stock valued at $87,000 after buying an additional 2,137 shares in the last quarter. Finally, Macquarie Group Ltd. purchased a new position in Allegheny Technologies in the second quarter valued at about $94,000. 90.99% of the stock is owned by institutional investors.

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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