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Allegheny Technologies Incorporated (ATI) – key numbers that make it a Strong Buy For Now

Allegheny Technologies Incorporated (NYSE: ATI) is 40.73% higher on its value in year-to-date trading and has touched a low of $6.21 and a high of $24.64 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ATI stock was last observed hovering at around $24.04 in the last trading session, with the day’s loss setting it -0.44% off its average median price target of $23.00 for the next 12 months. It is also 9.23% off the consensus price target high of $26.00 offered by 8 analysts, but current levels are -114.55% lower than the price target low of $11.00 for the same period.

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Currently trading at $23.60, the stock is 5.05% and 10.01% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.66 million and changing -1.83% at the moment leaves the stock 60.33% off its SMA200. ATI registered 183.65% gain for a year compared to 6-month gain of 166.07%. The firm has a 50-day simple moving average (SMA 50) of $20.77 and a 200-day simple moving average (SMA200) of $15.63.

The stock witnessed a 10.85% loss in the last 1 month and extending the period to 3 months gives it a 29.32%, and is 5.22% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.35% over the week and 4.05% over the month.

Allegheny Technologies Incorporated (ATI) has around 6500 employees, a market worth around $2.88B and $2.98B in sales. Fwd P/E is 37.46. Profit margin for the company is -52.70%. Distance from 52-week low is 280.03% and -4.22% from its 52-week high. The company has generated returns on investments over the last 12 months (-67.20%).

Allegheny Technologies Incorporated (ATI) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Allegheny Technologies Incorporated (ATI) is a “Overweight”. 8 analysts offering their recommendations for the stock have an average rating of 2.70, where 3 rate it as a Hold and 0 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Allegheny Technologies Incorporated is expected to release its quarterly report on 07/27/2021 and quarterly earnings per share for the current quarter are estimated at -$0.17 with sales reaching $644.03M over the same period.The EPS is expected to shrink by -773.50% this year, but quarterly earnings will post -10.80% year-over-year. Quarterly sales are estimated to shrink -14.70% in year-over-year returns.

Allegheny Technologies Incorporated (ATI) Top Institutional Holders

324 institutions hold shares in Allegheny Technologies Incorporated (ATI), with 866.23k shares held by insiders accounting for 0.68% while institutional investors hold 101.59% of the company’s shares. The shares outstanding are 126.50M, and float is at 125.55M with Short Float at 11.56%. Institutions hold 100.89% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 19.83 million shares valued at $332.57 million. The investor’s holdings represent 15.59% of the ATI Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 12.91 million shares valued at $216.47 million to account for 10.15% of the shares outstanding. The other top investors are Capital International Investors which holds 8.45 million shares representing 6.64% and valued at over $141.65 million, while State Street Corporation holds 5.25% of the shares totaling 6.68 million with a market value of $112.0 million.

Allegheny Technologies Incorporated (ATI) Insider Activity

A total of 42 insider transactions have happened at Allegheny Technologies Incorporated (ATI) in the last six months, with sales accounting for 28 and purchases happening 14 times. The most recent transaction is an insider sale by Kramer Kevin B, the company’s Sr. VP, CCMO. SEC filings show that Kramer Kevin B sold 10,000 shares of the company’s common stock on Mar 15 at a price of $22.00 per share for a total of $0.22 million. Following the sale, the insider now owns 0.16 million shares.

Allegheny Technologies Incorporated disclosed in a document filed with the SEC on Mar 11 that Davis Elliot S (Sr VP, GC, CCO and Secretary) sold a total of 15,200 shares of the company’s common stock. The trade occurred on Mar 11 and was made at $22.50 per share for $0.34 million. Following the transaction, the insider now directly holds 0.19 million shares of the ATI stock.

Still, SEC filings show that on Mar 05, Davis Elliot S (Sr VP, GC, CCO and Secretary) disposed off 8,233 shares at an average price of $20.34 for $0.17 million. The insider now directly holds 206,771 shares of Allegheny Technologies Incorporated (ATI).

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Allegheny Technologies Incorporated (ATI): Who are the competitors?

The company’s main competitors (and peers) include Friedman Industries Incorporated (FRD) that is trading 92.69% up over the past 12 months. Valmont Industries Inc. (VMI) is 106.91% up on the 1-year trading charts. Short interest in the company’s stock has fallen -5.99% from the last report on Apr 14, 2021 to stand at a total of 14.51 million short shares sold with a short interest ratio of 10.72.

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