Allegheny Technologies Incorporated (NYSE:ATI) dropped 8.8% on Thursday . The stock traded as low as $10.18 and last traded at $9.52, approximately 109,280 shares changed hands during mid-day trading. A decline of 96% from the average daily volume of 2,653,684 shares. The stock had previously closed at $10.44.
ATI has been the topic of several research analyst reports. ValuEngine raised Allegheny Technologies from a “sell” rating to a “hold” rating in a research note on Monday, June 1st. JPMorgan Chase & Co. reduced their price objective on Allegheny Technologies from $21.00 to $16.00 and set a “neutral” rating on the stock in a research note on Friday, April 17th. KeyCorp dropped their target price on Allegheny Technologies from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, April 15th. Bank of America downgraded Allegheny Technologies from a “buy” rating to an “underperform” rating in a report on Monday. Finally, Barclays downgraded Allegheny Technologies from an “equal weight” rating to an “underweight” rating and set a $6.00 target price on the stock. in a report on Friday, March 20th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Allegheny Technologies currently has an average rating of “Hold” and a consensus target price of $19.20.
The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.25 and a current ratio of 2.37. The firm has a market capitalization of $1.54 billion, a P/E ratio of 4.92, a P/E/G ratio of 323.47 and a beta of 1.88. The stock has a fifty day moving average price of $8.21 and a two-hundred day moving average price of $14.73.
Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.20 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $928.13 million. During the same period in the previous year, the business earned $0.12 EPS. The business’s quarterly revenue was down 4.9% on a year-over-year basis.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Capital Bank & Trust Co increased its holdings in shares of Allegheny Technologies by 29.5% in the 4th quarter. Capital Bank & Trust Co now owns 2,520 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 574 shares during the last quarter. American International Group Inc. increased its holdings in shares of Allegheny Technologies by 0.3% in the 4th quarter. American International Group Inc. now owns 320,136 shares of the basic materials company’s stock valued at $6,614,000 after acquiring an additional 876 shares during the last quarter. Mason Street Advisors LLC boosted its position in Allegheny Technologies by 1.4% during the 4th quarter. Mason Street Advisors LLC now owns 67,063 shares of the basic materials company’s stock valued at $1,386,000 after purchasing an additional 944 shares during the period. Oppenheimer & Co. Inc. boosted its position in Allegheny Technologies by 3.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 37,500 shares of the basic materials company’s stock valued at $775,000 after purchasing an additional 1,110 shares during the period. Finally, Natixis Advisors L.P. boosted its position in Allegheny Technologies by 4.9% during the 4th quarter. Natixis Advisors L.P. now owns 26,762 shares of the basic materials company’s stock valued at $553,000 after purchasing an additional 1,246 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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