Allegheny Technologies Incorporated (NYSE:ATI) – Equities research analysts at Seaport Global Securities dropped their Q1 2019 earnings estimates for Allegheny Technologies in a research report issued on Monday, November 12th. Seaport Global Securities analyst J. Sullivan now anticipates that the basic materials company will post earnings per share of $0.38 for the quarter, down from their previous estimate of $0.40. Seaport Global Securities also issued estimates for Allegheny Technologies’ Q2 2019 earnings at $0.47 EPS, Q3 2019 earnings at $0.51 EPS, Q4 2019 earnings at $0.63 EPS and FY2019 earnings at $2.00 EPS.

A number of other equities analysts have also recently commented on ATI. KeyCorp lifted their target price on shares of Allegheny Technologies from $31.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, July 26th. Cowen reaffirmed a “buy” rating and issued a $35.00 target price on shares of Allegheny Technologies in a report on Thursday, November 8th. Zacks Investment Research cut shares of Allegheny Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, July 20th. Bank of America set a $34.00 target price on shares of Allegheny Technologies and gave the company a “buy” rating in a report on Wednesday, July 25th. Finally, Buckingham Research lifted their target price on shares of Allegheny Technologies from $40.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, August 8th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Allegheny Technologies currently has an average rating of “Buy” and an average target price of $33.56.

Shares of Allegheny Technologies stock opened at $27.37 on Wednesday. The firm has a market capitalization of $3.38 billion, a PE ratio of 57.02, a price-to-earnings-growth ratio of 1.13 and a beta of 2.37. Allegheny Technologies has a 12 month low of $21.18 and a 12 month high of $30.25. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.21 and a current ratio of 2.90.

Allegheny Technologies (NYSE:ATI) last announced its earnings results on Tuesday, October 23rd. The basic materials company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. Allegheny Technologies had a net margin of 4.67% and a return on equity of 10.15%. The business’s revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.07) earnings per share.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC increased its stake in Allegheny Technologies by 5.8% in the 3rd quarter. AQR Capital Management LLC now owns 48,343 shares of the basic materials company’s stock valued at $1,429,000 after buying an additional 2,633 shares during the period. MetLife Investment Advisors LLC increased its stake in Allegheny Technologies by 21.5% in the 3rd quarter. MetLife Investment Advisors LLC now owns 164,227 shares of the basic materials company’s stock valued at $4,853,000 after buying an additional 29,019 shares during the period. Verition Fund Management LLC acquired a new position in Allegheny Technologies in the 3rd quarter valued at $869,000. Caxton Associates LP acquired a new position in Allegheny Technologies in the 3rd quarter valued at $4,433,000. Finally, Pacer Advisors Inc. increased its stake in Allegheny Technologies by 16.8% in the 3rd quarter. Pacer Advisors Inc. now owns 45,494 shares of the basic materials company’s stock valued at $1,344,000 after buying an additional 6,542 shares during the period.

In other Allegheny Technologies news, VP Karl D. Schwartz sold 1,000 shares of the business’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $27.10, for a total value of $27,100.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.00% of the company’s stock.

Allegheny Technologies Company Profile

Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates through two segments, High Performance Materials & Components, and Flat-Rolled Products. The High Performance Materials & Components segment produces, converts, and distributes a range of high performance materials, including titanium and titanium-based alloys; nickel-and cobalt-based alloys and superalloys; zirconium and related alloys, such as hafnium and niobium; powder alloys; and other specialty materials in long product forms of ingots, billets, bars, rods, wires, and shapes and rectangles, as well as seamless tubes, plus precision forgings, castings, components, and machined parts.

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

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