ATI Downgraded to 'Sell' Rating by StockNews.com

ATI (NYSE:ATI) was recently downgraded from a "hold" rating to a "sell" rating by analysts at StockNews.com in a report published on Thursday.

In addition to this downgrade, several other analysts have also shared their perspectives on ATI. Deutsche Bank Aktiengesellschaft raised its price target for ATI shares from $81.00 to $84.00 and assigned a "buy" rating in a report issued on October 3rd. Meanwhile, Susquehanna lowered its price objective for ATI from $75.00 to $70.00 while maintaining a "positive" rating in their report on October 30th. Furthermore, KeyCorp reduced its classification of ATI shares from "overweight" to "sector weight" in a note released on October 24th. Overall, the stock has received two sell ratings, one hold rating, and six buy ratings from various equity research analysts. According to MarketBeat.com, ATI currently has an average rating of "Hold" with an average price target of $73.71.

ATI's Stock Performance

On Thursday, ATI's stock traded up by $0.09, reaching $55.61 during midday trading. The trading volume was 1,438,364 shares, surpassing the average volume of 1,364,893 shares. ATI has a market capitalization of $7.93 billion and boasts a P/E ratio of 21.39, a PEG ratio of 1.95, and a beta of 1.12. Over the past year, the stock has seen a low of $38.04 and a high of $68.92. The company maintains a debt-to-equity ratio of 0.97, with a current ratio of 2.94 and a quick ratio of 1.44. The 50-day simple moving average is noted at $56.93, while the 200-day simple moving average is $60.08.

Recently, on October 29th, ATI reported its quarterly earnings results. The company announced an earnings per share (EPS) of $0.60 for the quarter, falling short of the consensus estimate of $0.66 by $0.06. The net margin stood at 8.85%, with a return on equity of 21.39%. For the quarter, ATI's revenue was $1.05 billion, which was also below analyst predictions of $1.12 billion. However, the company's revenue grew by 2.5% compared to the same quarter last year. Looking ahead, analysts expect ATI to post an EPS of 2.27 for the current fiscal year.

Insider Trading Activity

In other noteworthy news, SVP Tina Killough Busch sold 2,598 shares of ATI's stock on December 4th, at an average price of $60.02, resulting in a total transaction value of $155,931.96. Post-sale, Busch owns 21,553 shares in the company, valued at about $1,293,611.06. This transaction represented a 10.76% decrease in her ownership of ATI stock. Additionally, Chairman Robert S. Wetherbee sold 25,000 shares on October 15th at an average price of $62.23, totaling $1,555,750.00. After this sale, Wetherbee's ownership in ATI stands at 486,443 shares, worth approximately $30,271,347.89, reflecting a 4.89% decrease in his position. Recent insider trades have seen a total of 52,598 shares sold, worth $3,186,432 in the last quarter, with corporate insiders holding 0.71% of the stock.

Hedge Fund Activity

A number of hedge funds and institutional investors have recently modified their stakes in ATI as well. Sequoia Financial Advisors LLC increased its stake in the company by 3.3% during the 3rd quarter, now owning 5,383 shares. Beck Capital Management LLC also boosted its stake by 0.8%, bringing their total to 34,229 shares. KBC Group NV grew its holdings in ATI by 12.9% during the 3rd quarter, owning 3,362 shares. Additionally, Souders Financial Advisors increased their position in ATI by 6.1%, now owning 7,125 shares. Quarry LP raised its stake in ATI by 86.4%, acquiring 889 shares. Such activities reflect changes in investor sentiment and positioning regarding ATI shares.

Company Overview

ATI Inc is involved in producing and selling specialty materials and complex components on a global scale. The company operates through two main segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment specializes in creating a variety of materials such as titanium and titanium-based alloys, nickel- and cobalt-based alloys, and superalloys, as well as metallic powder alloys and other specialty materials.

ATI, stock, downgrade