Allegheny Technologies Incorporated (NYSE:ATI) has been assigned an average recommendation of “Hold” from the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $21.00.
ATI has been the subject of several analyst reports. Cowen reiterated a “hold” rating and set 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. Berenberg Bank set a $17.00 price target on shares of Allegheny Technologies and gave the stock a “hold” rating in a report on Thursday, October 19th. Finally, Zacks Investment Research cut shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a report on Monday.
Institutional investors have recently modified their holdings of the company. Verition Fund Management LLC acquired a new position in shares of Allegheny Technologies in the 2nd quarter valued at $281,000. Fernwood Investment Management LLC acquired a new position in shares of Allegheny Technologies in the 3rd quarter valued at $213,000. Schwab Charles Investment Management Inc. boosted its holdings in shares of Allegheny Technologies by 5.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 615,119 shares of the basic materials company’s stock valued at $14,702,000 after buying an additional 31,373 shares in the last quarter. Alpha Windward LLC acquired a new position in shares of Allegheny Technologies in the 3rd quarter valued at $595,000. Finally, Frontier Capital Management Co. LLC boosted its holdings in shares of Allegheny Technologies by 7.0% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 5,782,970 shares of the basic materials company’s stock valued at $138,213,000 after buying an additional 377,915 shares in the last quarter.
Allegheny Technologies (NYSE:ATI) last announced its earnings results on Tuesday, October 24th. The basic materials company reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07). Allegheny Technologies had a negative net margin of 2.45% and a positive return on equity of 1.09%. The firm had revenue of $869.10 million for the quarter, compared to the consensus estimate of $866.94 million. During the same period in the prior year, the firm earned ($0.21) EPS. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. research analysts predict that Allegheny Technologies will post 0.32 earnings per share for the current year.
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About Allegheny Technologies
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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