Buckingham Research reiterated their buy rating on shares of Allegheny Technologies Inc. (NYSE:ATI) in a report published on Monday. The brokerage currently has a $21.00 price target on the stock.

Other research analysts have also recently issued reports about the stock. Seaport Global Securities started coverage on shares of Allegheny Technologies in a research note on Friday, September 9th. They issued a buy rating and a $21.00 price objective on the stock. Deutsche Bank AG raised shares of Allegheny Technologies from a hold rating to a buy rating and lifted their price objective for the company from $15.00 to $20.00 in a research note on Monday, August 29th. Bank of America Corp. reissued a buy rating on shares of Allegheny Technologies in a research note on Friday, June 17th. Berenberg Bank reissued a hold rating and issued a $13.90 price objective on shares of Allegheny Technologies in a research note on Wednesday, July 27th. Finally, Cowen and Company raised shares of Allegheny Technologies from an underperform rating to a market perform rating in a research note on Wednesday, July 27th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $20.10.

Allegheny Technologies (NYSE:ATI) traded down 3.14% on Monday, hitting $17.27. The stock had a trading volume of 197,850 shares. The company’s 50 day moving average is $17.24 and its 200-day moving average is $15.57. The firm’s market capitalization is $1.88 billion. Allegheny Technologies has a 1-year low of $7.08 and a 1-year high of $18.67.

Allegheny Technologies (NYSE:ATI) last announced its quarterly earnings data on Tuesday, July 26th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.19. The business had revenue of $810.50 million for the quarter, compared to analysts’ expectations of $792.11 million. Allegheny Technologies had a negative net margin of 15.65% and a negative return on equity of 7.87%. The firm’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.15) earnings per share. On average, analysts forecast that Allegheny Technologies will post ($0.92) EPS for the current year.

Institutional investors have recently made changes to their positions in the stock. Farmers & Merchants Investments Inc. raised its position in shares of Allegheny Technologies by 5.9% in the second quarter. Farmers & Merchants Investments Inc. now owns 118,120 shares of the company’s stock valued at $1,506,000 after buying an additional 6,586 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Allegheny Technologies by 4,509.7% in the second quarter. BNP Paribas Arbitrage SA now owns 54,210 shares of the company’s stock valued at $691,000 after buying an additional 53,034 shares in the last quarter. UBS Group AG raised its stake in Allegheny Technologies by 7.3% in the first quarter. UBS Group AG now owns 202,647 shares of the company’s stock worth $3,304,000 after buying an additional 13,747 shares in the last quarter. State Street Corp raised its stake in Allegheny Technologies by 6.4% in the first quarter. State Street Corp now owns 4,204,983 shares of the company’s stock worth $68,544,000 after buying an additional 251,579 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp raised its stake in Allegheny Technologies by 644.6% in the first quarter. OMERS ADMINISTRATION Corp now owns 208,500 shares of the company’s stock worth $3,399,000 after buying an additional 180,500 shares in the last quarter. Hedge funds and other institutional investors own 95.60% of the company’s stock.

Allegheny Technologies Company Profile

Allegheny Technologies Incorporated (ATI) is a specialty materials and components producer. The Company operates through two business segments: High Performance Materials & Components and Flat Rolled Products. ATI’s products include titanium and titanium alloys, nickel-based alloys and specialty steels, precision forgings, castings and machined components, zirconium and related alloys, precision and engineered stainless steel strip, and grain-oriented electrical steel.

5 Day Chart for NYSE:ATI

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