Longbow Research reissued their buy rating on shares of Allegheny Technologies Incorporated (NYSE:ATI) in a research note issued to investors on Wednesday. The firm currently has a $24.00 price target on the basic materials company’s stock.

A number of other analysts also recently issued reports on ATI. Cowen and Company reissued a hold rating and issued a $18.00 target price on shares of Allegheny Technologies in a research report on Tuesday, April 25th. BidaskClub raised Allegheny Technologies from a strong sell rating to a sell rating in a research report on Tuesday, June 13th. Zacks Investment Research downgraded Allegheny Technologies from a hold rating to a sell rating in a research report on Monday, July 17th. Finally, J P Morgan Chase & Co raised Allegheny Technologies from an underweight rating to a neutral rating and raised their target price for the stock from $14.50 to $19.00 in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. Allegheny Technologies presently has an average rating of Hold and an average price target of $19.65.

Allegheny Technologies (ATI) opened at 20.50 on Wednesday. Allegheny Technologies has a 12-month low of $13.15 and a 12-month high of $23.69. The firm’s market cap is $2.23 billion. The company has a 50-day moving average price of $18.42 and a 200-day moving average price of $17.80.

Allegheny Technologies (NYSE:ATI) last released its earnings results on Tuesday, July 25th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.02. Allegheny Technologies had a positive return on equity of 0.08% and a negative net margin of 14.89%. The business had revenue of $880.20 million during the quarter, compared to the consensus estimate of $874.95 million. During the same period last year, the business posted ($0.21) earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts predict that Allegheny Technologies will post ($1.00) earnings per share for the current year.

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A number of large investors have recently bought and sold shares of ATI. LMR Partners LLP acquired a new stake in Allegheny Technologies during the second quarter valued at about $493,000. NorthRock Partners LLC acquired a new stake in Allegheny Technologies during the first quarter valued at about $746,000. Sei Investments Co. raised its stake in Allegheny Technologies by 82.9% in the first quarter. Sei Investments Co. now owns 374,519 shares of the basic materials company’s stock valued at $6,726,000 after buying an additional 169,767 shares in the last quarter. Victory Capital Management Inc. raised its stake in Allegheny Technologies by 11.7% in the first quarter. Victory Capital Management Inc. now owns 2,407,572 shares of the basic materials company’s stock valued at $43,240,000 after buying an additional 251,914 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Allegheny Technologies by 63.6% in the first quarter. Nisa Investment Advisors LLC now owns 6,380 shares of the basic materials company’s stock valued at $115,000 after buying an additional 2,480 shares in the last quarter. 96.61% of the stock is owned by institutional investors.

About Allegheny Technologies

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.

Analyst Recommendations for Allegheny Technologies (NYSE:ATI)

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