Allegheny Technologies Incorporated (NYSE:ATI) – Analysts at KeyCorp upped their Q1 2019 EPS estimates for Allegheny Technologies in a research note issued on Sunday, February 3rd. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will post earnings per share of $0.27 for the quarter, up from their prior forecast of $0.26. KeyCorp also issued estimates for Allegheny Technologies’ FY2020 earnings at $2.62 EPS.
Allegheny Technologies (NYSE:ATI) last released its quarterly earnings data on Tuesday, January 22nd. The basic materials company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.03). Allegheny Technologies had a net margin of 5.50% and a return on equity of 10.28%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $991.88 million. During the same period last year, the business earned $0.27 earnings per share. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year.
Several other brokerages also recently weighed in on ATI. Longbow Research upgraded Allegheny Technologies from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Tuesday, November 6th. Cowen restated a “buy” rating and set a $35.00 target price on shares of Allegheny Technologies in a research note on Thursday, November 8th. JPMorgan Chase & Co. upgraded Allegheny Technologies from an “underweight” rating to a “neutral” rating and set a $28.00 target price for the company in a research note on Wednesday, October 24th. Berenberg Bank began coverage on Allegheny Technologies in a research note on Thursday, December 6th. They set a “buy” rating and a $35.00 target price for the company. Finally, ValuEngine upgraded Allegheny Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Allegheny Technologies presently has a consensus rating of “Buy” and a consensus price target of $33.70.
NYSE:ATI opened at $27.73 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.24 and a current ratio of 2.68. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of 18.36, a P/E/G ratio of 0.99 and a beta of 2.37. Allegheny Technologies has a 12 month low of $20.84 and a 12 month high of $30.18.
In other news, Director Barabara S. Jeremiah sold 7,500 shares of the firm’s stock in a transaction dated Thursday, January 24th. The stock was sold at an average price of $25.61, for a total transaction of $192,075.00. Following the completion of the sale, the director now directly owns 33,833 shares in the company, valued at $866,463.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of ATI. Raymond James & Associates grew its stake in Allegheny Technologies by 11.8% in the second quarter. Raymond James & Associates now owns 49,958 shares of the basic materials company’s stock worth $1,255,000 after purchasing an additional 5,262 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Allegheny Technologies by 254.8% in the second quarter. Advisors Asset Management Inc. now owns 55,252 shares of the basic materials company’s stock worth $327,000 after purchasing an additional 39,680 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Allegheny Technologies in the second quarter worth about $238,000. Malaga Cove Capital LLC acquired a new position in Allegheny Technologies in the third quarter worth about $289,000. Finally, First Hawaiian Bank acquired a new position in Allegheny Technologies in the third quarter worth about $225,000.
About Allegheny Technologies
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, converts, and distributes a range of 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.