KeyCorp Reiterates Hold Rating for Allegheny Technologies Incorporated (ATI)

Allegheny Technologies Incorporated (NYSE:ATI)‘s stock had its “hold” rating reissued by investment analysts at KeyCorp in a note issued to investors on Wednesday.

Several other equities research analysts have also recently weighed in on the company. Bank of America Corporation raised Allegheny Technologies from an “underperform” rating to a “buy” rating and upped their price target for the stock from $16.00 to $24.00 in a research note on Monday, September 11th. J P Morgan Chase & Co raised Allegheny Technologies from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $14.50 to $19.00 in a research note on Wednesday, July 26th. BidaskClub raised Allegheny Technologies from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Zacks Investment Research cut Allegheny Technologies from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Finally, Longbow Research reissued a “buy” rating and issued a $24.00 target price on shares of Allegheny Technologies in a research note on Wednesday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $20.60.

Allegheny Technologies (NYSE ATI) opened at 24.31 on Wednesday. The company’s market capitalization is $2.65 billion. Allegheny Technologies has a one year low of $13.15 and a one year high of $25.51. The company has a 50 day moving average price of $22.67 and a 200-day moving average price of $18.68.

Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The company had revenue of $880.20 million for the quarter, compared to analysts’ expectations of $874.95 million. Allegheny Technologies had a positive return on equity of 0.08% and a negative net margin of 14.89%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.21) earnings per share. Analysts expect that Allegheny Technologies will post ($1.00) EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece on another site, it was stolen and republished in violation of U.S. and international copyright & trademark laws. The original version of this piece can be read at https://ledgergazette.com/2017/10/13/keycorp-reiterates-hold-rating-for-allegheny-technologies-incorporated-ati.html.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Architects Inc lifted its holdings in shares of Allegheny Technologies by 180.0% during the second quarter. Financial Architects Inc now owns 7,000 shares of the basic materials company’s stock valued at $119,000 after purchasing an additional 4,500 shares in the last quarter. Creative Planning lifted its holdings in shares of Allegheny Technologies by 2,619.9% during the second quarter. Creative Planning now owns 7,534 shares of the basic materials company’s stock valued at $128,000 after purchasing an additional 7,257 shares in the last quarter. Riverhead Capital Management LLC lifted its holdings in shares of Allegheny Technologies by 72.9% during the second quarter. Riverhead Capital Management LLC now owns 8,297 shares of the basic materials company’s stock valued at $141,000 after purchasing an additional 3,497 shares in the last quarter. LS Investment Advisors LLC lifted its holdings in shares of Allegheny Technologies by 24.1% during the second quarter. LS Investment Advisors LLC now owns 8,982 shares of the basic materials company’s stock valued at $153,000 after purchasing an additional 1,745 shares in the last quarter. Finally, Flinton Capital Management LLC lifted its holdings in shares of Allegheny Technologies by 70.8% during the second quarter. Flinton Capital Management LLC now owns 9,184 shares

Several other equities research analysts have also recently weighed in on the company. Bank of America Corporation raised Allegheny Technologies from an “underperform” rating to a “buy” rating and upped their price target for the stock from $16.00 to $24.00 in a research note on Monday, September 11th. J P Morgan Chase & Co raised Allegheny Technologies from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $14.50 to $19.00 in a research note on Wednesday, July 26th. BidaskClub raised Allegheny Technologies from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Zacks Investment Research cut Allegheny Technologies from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Finally, Longbow Research reissued a “buy” rating and issued a $24.00 target price on shares of Allegheny Technologies in a research note on Wednesday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $20.60.

Allegheny Technologies (NYSE ATI) opened at 24.31 on Wednesday. The company’s market capitalization is $2.65 billion. Allegheny Technologies has a one year low of $13.15 and a one year high of $25.51. The company has a 50 day moving average price of $22.67 and a 200-day moving average price of $18.68.

Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The company had revenue of $880.20 million for the quarter, compared to analysts’ expectations of $874.95 million. Allegheny Technologies had a positive return on equity of 0.08% and a negative net margin of 14.89%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.21) earnings per share. Analysts expect that Allegheny Technologies will post ($1.00) EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece on another site, it was stolen and republished in violation of U.S. and international copyright & trademark laws. The original version of this piece can be read at https://ledgergazette.com/2017/10/13/keycorp-reiterates-hold-rating-for-allegheny-technologies-incorporated-ati.html.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Architects Inc lifted its holdings in shares of Allegheny Technologies by 180.0% during the second quarter. Financial Architects Inc now owns 7,000 shares of the basic materials company’s stock valued at $119,000 after purchasing an additional 4,500 shares in the last quarter. Creative Planning lifted its holdings in shares of Allegheny Technologies by 2,619.9% during the second quarter. Creative Planning now owns 7,534 shares of the basic materials company’s stock valued at $128,000 after purchasing an additional 7,257 shares in the last quarter. Riverhead Capital Management LLC lifted its holdings in shares of Allegheny Technologies by 72.9% during the second quarter. Riverhead Capital Management LLC now owns 8,297 shares of the basic materials company’s stock valued at $141,000 after purchasing an additional 3,497 shares in the last quarter. LS Investment Advisors LLC lifted its holdings in shares of Allegheny Technologies by 24.1% during the second quarter. LS Investment Advisors LLC now owns 8,982 shares of the basic materials company’s stock valued at $153,000 after purchasing an additional 1,745 shares in the last quarter. Finally, Flinton Capital Management LLC lifted its holdings in shares of Allegheny Technologies by 70.8% during the second quarter. Flinton Capital Management LLC now owns 9,184 shares of the basic materials company’s stock valued at $156,000 after purchasing an additional 3,808 shares in the last quarter.

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.

Analyst Recommendations for Allegheny Technologies (NYSE:ATI)

Receive News & Ratings for Allegheny Technologies Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegheny Technologies Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply