Seaport Global Securities Comments on Allegheny Technologies Incorporated’s Q1 2019 Earnings (NYSE:ATI)

Allegheny Technologies Incorporated (NYSE:ATI) – Investment analysts at Seaport Global Securities issued their Q1 2019 earnings estimates for shares of Allegheny Technologies in a note issued to investors on Monday, according to Zacks Investment Research. Seaport Global Securities analyst J. Sullivan forecasts that the basic materials company will earn $0.43 per share for the quarter. Seaport Global Securities also issued estimates for Allegheny Technologies’ Q2 2019 earnings at $0.40 EPS and FY2019 earnings at $1.69 EPS.

Several other brokerages have also commented on ATI. Cowen reiterated a “buy” rating and issued a $32.00 price target on shares of Allegheny Technologies in a research note on Tuesday, January 23rd. Bank of America restated a “neutral” rating and set a $32.00 target price on shares of Allegheny Technologies in a research report on Wednesday, January 24th. They noted that the move was a valuation call. Buckingham Research raised their target price on shares of Allegheny Technologies from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. KeyCorp restated a “hold” rating on shares of Allegheny Technologies in a research report on Thursday, November 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of Allegheny Technologies from $18.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $26.50.

Allegheny Technologies (ATI) opened at $27.99 on Tuesday. The company has a market cap of $3,389.23, a P/E ratio of -32.55 and a beta of 2.44. Allegheny Technologies has a one year low of $14.54 and a one year high of $30.25. The company has a quick ratio of 1.04, a current ratio of 2.69 and a debt-to-equity ratio of 0.83.

Allegheny Technologies (NYSE:ATI) last announced its quarterly earnings results on Tuesday, January 23rd. The basic materials company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.12. The company had revenue of $909.90 million for the quarter, compared to analyst estimates of $898.22 million. Allegheny Technologies had a negative net margin of 2.61% and a positive return on equity of 3.47%. The firm’s revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.04) earnings per share.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio acquired a new stake in shares of Allegheny Technologies during the third quarter worth $145,000. Advisory Services Network LLC lifted its holdings in shares of Allegheny Technologies by 19,684.8% during the fourth quarter. Advisory Services Network LLC now owns 6,529 shares of the basic materials company’s stock worth $158,000 after purchasing an additional 6,496 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Allegheny Technologies during the third quarter worth $181,000. Global X Management Co. LLC lifted its holdings in shares of Allegheny Technologies by 75.3% during the fourth quarter. Global X Management Co. LLC now owns 7,579 shares of the basic materials company’s stock worth $183,000 after purchasing an additional 3,255 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Allegheny Technologies by 42.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,625 shares of the basic materials company’s stock worth $184,000 after purchasing an additional 2,269 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

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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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Earnings History and Estimates for Allegheny Technologies (NYSE:ATI)

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