Cowen restated their buy rating on shares of Allegheny Technologies (NYSE:ATI) in a report published on Friday. The brokerage currently has a $35.00 price objective on the basic materials company’s stock.
Several other research firms have also recently weighed in on ATI. KeyCorp set a $31.00 target price on Allegheny Technologies and gave the stock a buy rating in a research note on Tuesday, April 3rd. Goldman Sachs initiated coverage on Allegheny Technologies in a research note on Tuesday, March 20th. They set a sell rating and a $26.00 target price for the company. Bank of America restated a neutral rating and set a $32.00 target price on shares of Allegheny Technologies in a research note on Wednesday, January 24th. They noted that the move was a valuation call. Buckingham Research upped their target price on Allegheny Technologies from $30.00 to $40.00 and gave the stock a buy rating in a research note on Friday, January 26th. Finally, ValuEngine cut Allegheny Technologies from a hold rating to a sell rating in a research note on Friday, March 23rd. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $29.22.
Shares of NYSE:ATI opened at $25.75 on Friday. The company has a market cap of $3,155.35, a P/E ratio of 53.65 and a beta of 2.39. Allegheny Technologies has a 1 year low of $14.54 and a 1 year high of $30.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.04 and a current ratio of 2.69.
Several institutional investors and hedge funds have recently made changes to their positions in ATI. Frontier Capital Management Co. LLC lifted its stake in shares of Allegheny Technologies by 35.7% in the 4th quarter. Frontier Capital Management Co. LLC now owns 7,848,107 shares of the basic materials company’s stock valued at $189,453,000 after acquiring an additional 2,065,137 shares during the last quarter. Emerald Advisers Inc. PA lifted its stake in shares of Allegheny Technologies by 190.9% in the 4th quarter. Emerald Advisers Inc. PA now owns 941,793 shares of the basic materials company’s stock valued at $22,735,000 after acquiring an additional 618,060 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Allegheny Technologies by 15.9% in the 4th quarter. Millennium Management LLC now owns 3,177,259 shares of the basic materials company’s stock valued at $76,699,000 after acquiring an additional 436,832 shares during the last quarter. Keeley Teton Advisors LLC bought a new position in shares of Allegheny Technologies in the 4th quarter valued at $9,748,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Allegheny Technologies in the 3rd quarter valued at $4,541,000.
COPYRIGHT VIOLATION WARNING: This piece was originally posted by Week Herald and is the sole property of of Week Herald. If you are reading this piece on another website, it was illegally copied and reposted in violation of US & international copyright laws. The legal version of this piece can be read at https://weekherald.com/2018/04/16/allegheny-technologies-ati-earns-buy-rating-from-cowen.html.
About Allegheny Technologies
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, converts, and distributes a range of 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.
Receive News & Ratings for Allegheny Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegheny Technologies and related companies with MarketBeat.com's FREE daily email newsletter.