By otakuyassine3@gmail.com 
ATI Inc. (NYSE:ATI – Get Free Report) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 2,940,000 shares, a growth of 14.4% from the November 30th total of 2,570,000 shares. Based on an average daily trading volume, of 1,480,000 shares, the short-interest ratio is presently 2.0 days.
ATI Price Performance
ATI stock traded up $0.17 during midday trading on Wednesday, reaching $55.04. The company had a trading volume of 988,308 shares, compared to its average volume of 1,450,443. ATI has a 12-month low of $38.04 and a 12-month high of $68.92. The firm’s fifty day simple moving average is $57.39 and its 200-day simple moving average is $60.11. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.94 and a quick ratio of 1.44. The company has a market capitalization of $7.85 billion, a P/E ratio of 21.17, a P/E/G ratio of 1.95 and a beta of 1.09.
ATI (NYSE:ATI – Get Free Report) last issued its earnings results on Tuesday, October 29th. The basic materials company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.12 billion. ATI had a return on equity of 21.39% and a net margin of 8.85%. ATI’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.55 earnings per share. As a group, equities analysts anticipate that ATI will post 2.27 EPS for the current year.
ATI announced that its Board of Directors has approved a stock buyback program on Tuesday, September 3rd that authorizes the company to buyback $700.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to purchase up to 9.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Wall Street Analysts Forecast Growth
ATI has been the subject of several research analyst reports. Susquehanna dropped their price target on ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft increased their price target on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Finally, StockNews.com raised shares of ATI from a “sell” rating to a “hold” rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, ATI currently has a consensus rating of “Moderate Buy” and an average price target of $73.71.
Get Our Latest Research Report on ATI
Insider Transactions at ATI
In other news, SVP Tina Killough Busch sold 2,598 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $60.02, for a total value of $155,931.96. Following the transaction, the senior vice president now owns 21,553 shares in the company, valued at approximately $1,293,611.06. This trade represents a 10.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Robert S. Wetherbee sold 25,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the sale, the chairman now owns 486,443 shares of the company’s stock, valued at $30,271,347.89. This represents a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,598 shares of company stock valued at $3,186,432 in the last quarter. Insiders own 0.71% of the company’s stock.
Institutional Trading of ATI
Several institutional investors and hedge funds have recently made changes to their positions in ATI. Lord Abbett & CO. LLC acquired a new stake in shares of ATI in the third quarter valued at approximately $3,088,000. Franklin Resources Inc. boosted its stake in ATI by 16.2% during the 3rd quarter. Franklin Resources Inc. now owns 445,746 shares of the basic materials company’s stock worth $27,993,000 after purchasing an additional 61,999 shares during the period. Geode Capital Management LLC grew its holdings in shares of ATI by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,952,934 shares of the basic materials company’s stock worth $130,709,000 after buying an additional 5,165 shares during the last quarter. MML Investors Services LLC raised its stake in ATI by 16.7% during the 3rd quarter. MML Investors Services LLC now owns 6,311 shares of the basic materials company’s stock valued at $422,000 after acquiring an additional 904 shares during the last quarter. Finally, Orion Portfolio Solutions LLC raised its stake in shares of ATI by 8.3% during the third quarter. Orion Portfolio Solutions LLC now owns 8,300 shares of the basic materials company’s stock worth $555,000 after purchasing an additional 633 shares during the last quarter.
ATI Company Profile
ATI Inc produces and sells specialty materials and complex components worldwide. It operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, metallic powder alloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.
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