Berenberg Bank set a $17.00 price objective on Allegheny Technologies Incorporated (NYSE:ATI) in a report released on Thursday. The brokerage currently has a hold rating on the basic materials company’s stock.
A number of other equities research analysts have also weighed in on ATI. BidaskClub upgraded Allegheny Technologies from a sell rating to a hold rating in a report on Wednesday, August 2nd. Cowen and Company reiterated a hold rating and issued a $18.00 price target on shares of Allegheny Technologies in a report on Thursday, October 12th. KeyCorp reiterated a hold rating on shares of Allegheny Technologies in a report on Wednesday, October 11th. Zacks Investment Research upgraded Allegheny Technologies from a sell rating to a hold rating in a report on Monday, August 7th. Finally, Longbow Research reiterated a buy rating and issued a $24.00 price target on shares of Allegheny Technologies in a report on Wednesday, August 23rd. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Allegheny Technologies currently has a consensus rating of Hold and an average price target of $20.57.
Allegheny Technologies (ATI) opened at 24.62 on Thursday. The firm has a 50 day moving average of $23.35 and a 200 day moving average of $18.98. The firm’s market capitalization is $2.68 billion. Allegheny Technologies has a 12-month low of $13.15 and a 12-month high of $25.51.
Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.02. Allegheny Technologies had a positive return on equity of 0.08% and a negative net margin of 14.89%. The firm had revenue of $880.20 million during the quarter, compared to analyst estimates of $874.95 million. During the same period last year, the company earned ($0.21) EPS. Allegheny Technologies’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, analysts forecast that Allegheny Technologies will post ($1.00) EPS for the current fiscal year.
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Hedge funds have recently modified their holdings of the company. Financial Architects Inc lifted its holdings in shares of Allegheny Technologies by 180.0% in the 2nd quarter. Financial Architects Inc now owns 7,000 shares of the basic materials company’s stock valued at $119,000 after buying an additional 4,500 shares during the period. Creative Planning lifted its holdings in shares of Allegheny Technologies by 2,619.9% in the 2nd quarter. Creative Planning now owns 7,534 shares of the basic materials company’s stock valued at $128,000 after buying an additional 7,257 shares during the period. Riverhead Capital Management LLC lifted its holdings in shares of Allegheny Technologies by 72.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 8,297 shares of the basic materials company’s stock valued at $141,000 after buying an additional 3,497 shares during the period. LS Investment Advisors LLC lifted its holdings in shares of Allegheny Technologies by 24.1% in the 2nd quarter. LS Investment Advisors LLC now owns 8,982 shares of the basic materials company’s stock valued at $153,000 after buying an additional 1,745 shares during the period. Finally, Flinton Capital Management LLC lifted its holdings in shares of Allegheny Technologies by 70.8% in the 2nd quarter. Flinton Capital Management LLC now owns 9,184 shares of the basic materials company’s stock valued at $156,000 after buying an additional 3,808 shares during the period.
Allegheny Technologies Company Profile
Allegheny Technologies Incorporated is a manufacturer of specialty materials and complex components. The Company operates through two business segments: High Performance Materials & Components (HPMC), and Flat Rolled Products (FRP). The HPMC segment produces, converts and distributes a range of materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, zirconium and related alloys, including hafnium and niobium, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, plus precision forgings, castings, components and machined parts.
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