Allegheny Technologies Incorporated (NYSE:ATI) – Equities researchers at Seaport Global Securities decreased their Q1 2017 earnings estimates for Allegheny Technologies in a research report issued to clients and investors on Thursday. Seaport Global Securities analyst J. Sullivan now expects that the firm will post earnings per share of $0.04 for the quarter, down from their previous estimate of $0.07. Seaport Global Securities currently has a “Buy” rating and a $22.00 target price on the stock. Seaport Global Securities also issued estimates for Allegheny Technologies’ Q2 2017 earnings at $0.08 EPS, Q3 2017 earnings at $0.14 EPS, Q4 2017 earnings at $0.19 EPS and FY2017 earnings at $0.45 EPS.

Other analysts have also recently issued research reports about the stock. Berenberg Bank cut shares of Allegheny Technologies from a “hold” rating to a “sell” rating and set a $16.10 target price on the stock. in a research note on Thursday, February 2nd. Bank of America Corp cut shares of Allegheny Technologies from a “buy” rating to an “underperform” rating and set a $16.00 target price on the stock. in a research note on Friday, January 20th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $20.76.

Earnings History and Estimates for Allegheny Technologies (NYSE:ATI)

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Allegheny Technologies (NYSE:ATI) opened at 17.56 on Monday. Allegheny Technologies has a 1-year low of $10.93 and a 1-year high of $23.69. The company’s 50 day moving average is $19.79 and its 200-day moving average is $17.61. The firm’s market cap is $1.91 billion.

Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings data on Tuesday, January 24th. The company reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.07. Allegheny Technologies had a negative net margin of 20.45% and a negative return on equity of 6.15%. The business had revenue of $796 million for the quarter, compared to analyst estimates of $800.11 million. During the same quarter last year, the business earned ($0.56) earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis.

Hedge funds have recently bought and sold shares of the stock. LS Investment Advisors LLC boosted its stake in Allegheny Technologies by 7.7% in the third quarter. LS Investment Advisors LLC now owns 7,499 shares of the company’s stock worth $136,000 after buying an additional 533 shares during the last quarter. Bank of Montreal Can boosted its stake in Allegheny Technologies by 43.3% in the third quarter. Bank of Montreal Can now owns 8,341 shares of the company’s stock worth $150,000 after buying an additional 2,522 shares during the last quarter. Charter Trust Co. acquired a new stake in Allegheny Technologies during the third quarter worth $183,000. Tower Research Capital LLC TRC boosted its stake in Allegheny Technologies by 105.8% in the third quarter. Tower Research Capital LLC TRC now owns 10,975 shares of the company’s stock worth $199,000 after buying an additional 5,641 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Allegheny Technologies during the third quarter worth $207,000. 97.20% of the stock is currently owned by institutional investors and hedge funds.

About Allegheny Technologies

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.

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