ATI Inc (NYSE: ATI)’s stock price has soared by 16.83 in relation to previous closing price of 51.90. Nevertheless, the company has seen a gain of 23.49% in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-30 that Allegheny Technologies (ATI) came out with quarterly earnings of $0.48 per share, beating the Zacks Consensus Estimate of $0.41 per share. This compares to earnings of $0.49 per share a year ago.
Is It Worth Investing in ATI Inc (NYSE: ATI) Right Now?
ATI Inc (NYSE: ATI) has a higher price-to-earnings ratio of 24.03x compared to its average ratio. ATI has 36-month beta value of 1.22. Analysts have mixed views on the stock, with 2 analysts rating it as a “buy,” 2 as “overweight,” 5 as “hold,” and 0 as “sell.”
The public float for ATI is 126.00M, and currently, short sellers hold a 5.07% ratio of that float. The average trading volume of ATI on April 30, 2024 was 1.33M shares.
ATI’s Market Performance
ATI stock saw an increase of 23.49% in the past week, with a monthly gain of 18.87% and a quarterly increase of 46.64%. The volatility ratio for the week is 3.27%, and the volatility levels for the last 30 days are 2.94% for ATI Inc (ATI). The simple moving average for the past 20 days is 19.22% for ATI’s stock, with a 36.53% simple moving average for the past 200 days.
Analysts’ Opinion of ATI
Many brokerage firms have already submitted their reports for ATI stocks, with Deutsche Bank repeating the rating for ATI by listing it as a “Buy.” The predicted price for ATI in the upcoming period, according to Deutsche Bank is $70 based on the research report published on April 11, 2024 of the current year 2024.
Northcoast, on the other hand, stated in their research note that they expect to see ATI reach a price target of $54. The rating they have provided for ATI stocks is “Buy” according to the report published on July 20th, 2023.
Wolfe Research gave a rating of “Outperform” to ATI, setting the target price at $33 in the report published on August 05th of the previous year.
ATI Trading at 22.20% from the 50-Day Moving Average
After a stumble in the market that brought ATI to its low price for the period of the last 52 weeks, the company was able to rebound, for now settling with 14.45% of gains for the given period.
Volatility was left at 2.94%, however, over the last 30 days, the volatility rate increased by 3.27%, as shares surge +19.45% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +32.41% upper at present.
During the last 5 trading sessions, ATI rose by +23.22%, which changed the moving average for the period of 200-days by +32.53% in comparison to the 20-day moving average, which settled at $51.35. In addition, ATI Inc saw 33.35% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ATI starting from Davis Elliot S, who sale 45,351 shares at the price of $49.12 back on Feb 29 ’24. After this action, Davis Elliot S now owns 123,927 shares of ATI Inc, valued at $2,227,641 using the latest closing price.
Harris Timothy J, the Senior VP and CDIO of ATI Inc, sale 6,325 shares at $41.88 during a trade that took place back on Feb 13 ’24, which means that Harris Timothy J is holding 103,006 shares at $264,891 based on the most recent closing price.
Stock Fundamentals for ATI
Current profitability levels for the company are sitting at:
- 0.08 for the present operating margin
- 0.14 for the gross margin
The net margin for ATI Inc stands at 0.06. The total capital return value is set at 0.12. Equity return is now at value 30.39, with 7.79 for asset returns.
Based on ATI Inc (ATI), the company’s capital structure generated 0.61 points at debt to capital in total, while cash flow to debt ratio is standing at 0.04. The debt to equity ratio resting at 1.59. The interest coverage ratio of the stock is -44.85.
Currently, EBITDA for the company is 466.4 million with net debt to EBITDA at 2.82. When we switch over and look at the enterprise to sales, we see a ratio of 1.57. The receivables turnover for the company is 8.57for trailing twelve months and the total asset turnover is 1.18. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.80.
Conclusion
To put it simply, ATI Inc (ATI) has had a better performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
