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Allegheny Technologies Incorporated (NYSE:ATI - Get Rating) - Investment analysts at Seaport Res Ptn issued their Q2 2022 EPS estimates for Allegheny Technologies in a report issued on Thursday, June 23rd. Seaport Res Ptn analyst R. Safran expects that the basic materials company will earn $0.37 per share for the quarter. The consensus estimate for Allegheny Technologies' current full-year earnings is $1.53 per share. Seaport Res Ptn also issued estimates for Allegheny Technologies' Q3 2022 earnings at $0.38 EPS, Q4 2022 earnings at $0.44 EPS, FY2022 earnings at $1.64 EPS, Q1 2023 earnings at $0.44 EPS, Q2 2023 earnings at $0.44 EPS, Q3 2023 earnings at $0.52 EPS, Q4 2023 earnings at $0.65 EPS and FY2023 earnings at $2.05 EPS.
ATI has been the subject of a number of other research reports. KeyCorp raised their price objective on shares of Allegheny Technologies from $28.00 to $31.00 and gave the company an "overweight" rating in a report on Monday, April 4th. StockNews.com began coverage on shares of Allegheny Technologies in a report on Thursday, March 31st. They set a "hold" rating for the company. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $26.13.
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ATI stock opened at $23.17 on Monday. The stock has a market capitalization of $2.88 billion, a P/E ratio of -579.25 and a beta of 1.28. The company has a current ratio of 2.61, a quick ratio of 1.25 and a debt-to-equity ratio of 2.15. Allegheny Technologies has a 12 month low of $13.85 and a 12 month high of $30.74. The firm has a 50-day moving average price of $26.27 and a 200-day moving average price of $23.78. Allegheny Technologies (NYSE:ATI - Get Rating) last posted its earnings results on Wednesday, May 4th. The basic materials company reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.18. The firm had revenue of $834.10 million during the quarter, compared to analysts' expectations of $748.04 million. Allegheny Technologies had a net margin of 0.02% and a return on equity of 11.17%. The business's revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.06) earnings per share.
In other Allegheny Technologies news, CMO Kevin B. Kramer sold 10,000 shares of the firm's stock in a transaction on Thursday, April 14th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the transaction, the chief marketing officer now directly owns 160,338 shares in the company, valued at approximately $4,810,140. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.82% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bowen Hanes & Co. Inc. bought a new stake in Allegheny Technologies in the 1st quarter valued at about $40,221,000. State Street Corp raised its stake in Allegheny Technologies by 14.8% in the 1st quarter. State Street Corp now owns 9,941,032 shares of the basic materials company's stock valued at $266,817,000 after acquiring an additional 1,279,827 shares during the period. Capital International Investors raised its stake in Allegheny Technologies by 9.8% in the 4th quarter. Capital International Investors now owns 12,176,850 shares of the basic materials company's stock valued at $193,977,000 after acquiring an additional 1,089,416 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Allegheny Technologies by 17.3% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,540,724 shares of the basic materials company's stock valued at $72,334,000 after acquiring an additional 669,769 shares during the period. Finally, Invesco Ltd. raised its stake in Allegheny Technologies by 105.4% in the 1st quarter. Invesco Ltd. now owns 1,181,206 shares of the basic materials company's stock valued at $31,703,000 after acquiring an additional 606,005 shares during the period.
About Allegheny Technologies (Get Rating)
Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.
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