Allegheny Technologies (NYSE:ATI) Trading 12.4% Higher

Allegheny Technologies Incorporated (NYSE:ATI)’s stock price traded up 12.4% during mid-day trading on Wednesday . The company traded as high as $10.71 and last traded at $10.48, 3,836,378 shares changed hands during mid-day trading. An increase of 47% from the average session volume of 2,608,211 shares. The stock had previously closed at $9.32.

A number of research analysts recently issued reports on the company. Cowen assumed coverage on Allegheny Technologies in a report on Tuesday, February 4th. They issued a “buy” rating and a $25.00 target price for the company. Cfra decreased their price target on Allegheny Technologies from $25.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Barclays downgraded Allegheny Technologies from an “equal weight” rating to an “underweight” rating and set a $6.00 price target for the company. in a report on Friday, March 20th. KeyCorp decreased their price target on Allegheny Technologies from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, April 15th. Finally, JPMorgan Chase & Co. decreased their price target on Allegheny Technologies from $21.00 to $16.00 and set a “neutral” rating for the company in a report on Friday, April 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $19.20.

The stock has a 50-day moving average price of $7.72 and a 200 day moving average price of $15.21. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.37 and a quick ratio of 1.25. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 5.54, a PEG ratio of 242.93 and a beta of 1.89.

Allegheny Technologies (NYSE:ATI) last posted its earnings results on Tuesday, May 5th. The basic materials company reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.10. Allegheny Technologies had a return on equity of 8.03% and a net margin of 6.47%. The business had revenue of $955.50 million for the quarter, compared to analysts’ expectations of $928.13 million. During the same quarter in the previous year, the firm earned $0.12 earnings per share. The business’s revenue was down 4.9% compared to the same quarter last year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement Association of Colorado increased its position in shares of Allegheny Technologies by 7.4% during the first quarter. Public Employees Retirement Association of Colorado now owns 18,936 shares of the basic materials company’s stock worth $161,000 after purchasing an additional 1,297 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in Allegheny Technologies in the 1st quarter valued at about $615,000. Advisor Group Holdings Inc. acquired a new position in Allegheny Technologies in the 1st quarter valued at about $123,000. Capital International Investors increased its position in Allegheny Technologies by 2.5% in the 1st quarter. Capital International Investors now owns 11,888,313 shares of the basic materials company’s stock valued at $101,051,000 after acquiring an additional 292,266 shares during the period. Finally, Tudor Investment Corp Et Al increased its position in Allegheny Technologies by 8.4% in the 1st quarter. Tudor Investment Corp Et Al now owns 22,134 shares of the basic materials company’s stock valued at $188,000 after acquiring an additional 1,720 shares during the period. Institutional investors and hedge funds own 95.59% of the company’s stock.

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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