An issue of Allegheny Technologies Incorporated (NYSE:ATI) bonds fell 0.6% as a percentage of their face value during trading on Friday. The high-yield debt issue has a 9.375% coupon and will mature on June 1, 2019. The debt is now trading at $107.75 and was trading at $109.25 one week ago. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its share price.

Several equities analysts have issued reports on ATI shares. Cowen and Company upped their target price on shares of Allegheny Technologies from $15.00 to $18.00 and gave the company a “market perform” rating in a research note on Monday, April 17th. BidaskClub upgraded shares of Allegheny Technologies from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Berenberg Bank upgraded shares of Allegheny Technologies from a “sell” rating to a “hold” rating and increased their price objective for the stock from $16.10 to $17.20 in a research note on Monday, April 24th. Zacks Investment Research cut shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Finally, J P Morgan Chase & Co upgraded shares of Allegheny Technologies from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $14.50 to $19.00 in a research note on Wednesday, July 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $19.65.

Shares of Allegheny Technologies Incorporated (NYSE ATI) opened at 18.59 on Wednesday. Allegheny Technologies Incorporated has a 12-month low of $13.15 and a 12-month high of $23.69. The stock’s market capitalization is $2.02 billion. The company has a 50-day moving average of $17.52 and a 200 day moving average of $17.92.

Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. The business had revenue of $880.20 million during 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 company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.21) EPS. Analysts predict that Allegheny Technologies Incorporated will post ($1.00) earnings per share for the current year.

Several hedge funds have recently bought and sold shares of ATI. Principal Financial Group Inc. boosted its stake in Allegheny Technologies by 4.3% in the second quarter. Principal Financial Group Inc. now owns 458,358 shares of the basic materials company’s stock valued at $7,797,000 after buying an additional 19,012 shares in the last quarter. Neuberger Berman Group LLC boosted its position in shares of Allegheny Technologies by 50.3% in the second quarter. Neuberger Berman Group LLC now owns 1,472,402 shares of the basic materials company’s stock valued at $25,046,000 after buying an additional 492,540 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Allegheny Technologies by 0.9% in the second quarter. Prudential Financial Inc. now owns 73,002 shares of the basic materials company’s stock valued at $1,242,000 after buying an additional 660 shares in the last quarter. Royce & Associates LP boosted its position in shares of Allegheny Technologies by 5.3% in the second quarter. Royce & Associates LP now owns 1,577,668 shares of the basic materials company’s stock valued at $26,836,000 after buying an additional 79,500 shares in the last quarter. Finally, Iridian Asset Management LLC CT boosted its position in shares of Allegheny Technologies by 30.7% in the second quarter. Iridian Asset Management LLC CT now owns 8,725,099 shares of the basic materials company’s stock valued at $148,414,000 after buying an additional 2,047,830 shares in the last quarter. 96.61% of the stock is owned by institutional investors and hedge funds.

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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.

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