The stock of Allegheny Technologies Incorporated (NYSE:ATI) is a huge mover today! About 921,628 shares traded hands. Allegheny Technologies Incorporated (NYSE:ATI) has risen 12.05% since March 2, 2016 and is uptrending. It has outperformed by 3.79% the S&P500.
The move comes after 7 months positive chart setup for the $1.90 billion company. It was reported on Oct, 5 by Barchart.com. We have $29.98 PT which if reached, will make NYSE:ATI worth $1.25 billion more.
Analysts await Allegheny Technologies Incorporated (NYSE:ATI) to report earnings on October, 18. They expect $-0.02 earnings per share, up 93.10% or $0.27 from last year’s $-0.29 per share. After $-0.21 actual earnings per share reported by Allegheny Technologies Incorporated for the previous quarter, Wall Street now forecasts -90.48% EPS growth.
Allegheny Technologies Incorporated (NYSE:ATI) Ratings Coverage
Out of 8 analysts covering Allegheny Tech (NYSE:ATI), 7 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 88% are positive. Allegheny Tech has been the topic of 18 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Allegheny Technologies Incorporated (NYSE:ATI) earned “Market Perform” rating by Cowen & Co on Thursday, September 3. Rosenblatt upgraded Allegheny Technologies Incorporated (NYSE:ATI) rating on Friday, December 11. Rosenblatt has “Buy” rating and $23 price target. The firm has “Underperform” rating given on Tuesday, October 20 by Bank of America. As per Monday, August 29, the company rating was upgraded by Deutsche Bank. Rosenblatt maintained it with “Buy” rating and $18 target price in Thursday, February 11 report. The stock has “Hold” rating given by Deutsche Bank on Wednesday, October 21. On Monday, May 23 the stock rating was upgraded by Bank of America to “Buy”. The company was initiated on Friday, September 9 by Seaport Global. The stock of Allegheny Technologies Incorporated (NYSE:ATI) earned “Buy” rating by Stifel Nicolaus on Thursday, October 1. The rating was upgraded by Deutsche Bank on Monday, October 5 to “Buy”.
According to Zacks Investment Research, “Allegheny Technologies Incorporated is one of the largest and most diversified producers of specialty materials in the world. The company’s talented people use innovative technologies to offer growing global markets a wide range of specialty materials including stainless steel, nickel-based and cobalt-based alloys and superalloys, titanium and titanium alloys, specialty steel alloys, zirconium and related alloys, and tungsten-based specialty materials. The goal is to be the low cost, high quality supplier to global markets. (PRESS RELEASE)”
Insitutional Activity: The institutional sentiment increased to 1.22 in Q2 2016. Its up 0.14, from 1.08 in 2016Q1. The ratio improved, as 34 funds sold all Allegheny Technologies Incorporated shares owned while 56 reduced positions. 26 funds bought stakes while 84 increased positions. They now own 96.83 million shares or 13.70% more from 85.16 million shares in 2016Q1.
Van Den Berg Mngmt I holds 4.11% of its portfolio in Allegheny Technologies Incorporated (NYSE:ATI) for 2.51M shares. Fifth Third State Bank has 0% invested in the company for 28,812 shares. Geode Cap Mgmt Limited Liability owns 717,898 shares or 0% of their US portfolio. Private Advisor Gru Ltd Llc, a New Jersey-based fund reported 11,144 shares. Alliancebernstein Lp holds 0% of its portfolio in Allegheny Technologies Incorporated (NYSE:ATI) for 169,950 shares. Morgan Stanley holds 680,237 shares or 0% of its portfolio. The California-based Blackrock Institutional Tru Na has invested 0.01% in Allegheny Technologies Incorporated (NYSE:ATI). Archford Cap Strategies Ltd Liability Company accumulated 0% or 130 shares. The Missouri-based Stifel Fincl Corp has invested 0.02% in Allegheny Technologies Incorporated (NYSE:ATI). Jfs Wealth Advsr Limited Liability reported 2,443 shares or 0.01% of all its holdings. Proshare Advisors Lc has 0.01% invested in the company for 31,957 shares. Prudential Financial last reported 0% of its portfolio in the stock. Checchi Cap Advisers Lc has 329 shares for 0% of their US portfolio. Jpmorgan Chase And Commerce holds 0% of its portfolio in Allegheny Technologies Incorporated (NYSE:ATI) for 1,513 shares. State Board Of Administration Of Florida Retirement Sys accumulated 76,558 shares or 0% of the stock.
More notable recent Allegheny Technologies Incorporated (NYSE:ATI) news were published by: Fool.com which released: “Why Allegheny Technologies Incorporated’s Shares Popped 11% Today” on August 29, 2016, also Fool.com with their article: “Why Allegheny Technologies Incorporated’s Shares Popped 20% Today” published on July 26, 2016, Fool.com published: “Why Allegheny Technologies Incorporated’s Shares Popped 40% in July” on August 08, 2016. More interesting news about Allegheny Technologies Incorporated (NYSE:ATI) were released by: Fool.com and their article: “Why Allegheny Technologies Incorporated’s Shares Plunged 13% Today” published on May 18, 2016 as well as Fool.com‘s news article titled: “Why Allegheny Technologies Incorporated’s Shares Plunged in December” with publication date: January 07, 2016.
ATI Company Profile
Allegheny Technologies Incorporated (ATI), incorporated on August 26, 1999, is a specialty materials and components producer. The Firm operates through two business divisions: High Performance Materials & Components and Flat Rolled Products. ATI’s products include titanium and titanium alloys, nickel alloys and specialty steels, precision forgings, castings and machined components, zirconium and related alloys, precision and engineered stainless steel strip, and grain-oriented electrical steel. The Company’s standard products include specialty stainless sheet, stainless steel sheet and stainless steel plate. It is engaged in the production of titanium alloys, nickel and cobalt alloys and superalloys, and vacuum-melted specialty alloys used in the manufacture of components for both commercial and military jet engines, as well as replacement parts for those engines. It also produces titanium alloys, vacuum-melted specialty alloys and stainless alloys for use in commercial and military airframes, airframe components and missiles. Titanium and titanium alloys are used to produce jet engine components, such as blades, vanes, discs, casings and airframe components, such as structural members, landing gear, hydraulic systems and fasteners.
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