Today’s Stock Alert: Allegheny Technologies Incorporated Just Recorded A Sigfniciant Decline

Today's Stock Alert: Allegheny Technologies Incorporated Just Recorded A Sigfniciant Decline

The stock of Allegheny Technologies Incorporated (NYSE:ATI) is a huge mover today! About 2.40M shares traded hands. Allegheny Technologies Incorporated (NYSE:ATI) has risen 3.68% since April 14, 2016 and is uptrending. It has underperformed by 1.01% the S&P500.
The move comes after 8 months negative chart setup for the $1.75 billion company. It was reported on Nov, 16 by Barchart.com. We have $15.56 PT which if reached, will make NYSE:ATI worth $87.50M less.

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. Deutsche Bank upgraded the stock to “Buy” rating in Monday, August 29 report. The stock has “Buy” rating given by Deutsche Bank on Monday, October 5. The stock of Allegheny Technologies Incorporated (NYSE:ATI) earned “Market Perform” rating by Cowen & Co on Monday, April 4. Seaport Global initiated Allegheny Technologies Incorporated (NYSE:ATI) on Friday, September 9 with “Buy” rating. The firm has “Buy” rating given on Friday, December 11 by Rosenblatt. The rating was maintained by Stifel Nicolaus on Thursday, October 1 with “Buy”. Deutsche Bank downgraded Allegheny Technologies Incorporated (NYSE:ATI) on Wednesday, October 21 to “Hold” rating. The firm earned “Neutral” rating on Tuesday, July 21 by Bank of America. The company was maintained on Tuesday, February 9 by Buckingham Research. Cowen & Co maintained the stock with “Market Perform” rating in Thursday, September 3 report.

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 2016 Q2. 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.
Boston Ptnrs holds 411,830 shares or 0.01% of its portfolio. Ameritas Prtnrs has 0.02% invested in the company for 25,677 shares. Cap Fund Management has invested 0.05% of its portfolio in Allegheny Technologies Incorporated (NYSE:ATI). Parkside Fincl Bank has invested 0% of its portfolio in Allegheny Technologies Incorporated (NYSE:ATI). Commonwealth Of Pennsylvania School Empls Retrmt Sys holds 22,916 shares or 0.01% of its portfolio. Proshare Advisors Limited Liability Corp last reported 0.01% of its portfolio in the stock. State Bank Of Montreal Can owns 5,819 shares or 0% of their US portfolio. Vanguard Grp holds 0.01% or 8.00 million shares in its portfolio. Assetmark has 2,947 shares for 0% of their US portfolio. Moreover, Blackrock Limited has 0% invested in Allegheny Technologies Incorporated (NYSE:ATI) for 133,981 shares. Kornitzer Cap Management Inc Ks has invested 0% of its portfolio in Allegheny Technologies Incorporated (NYSE:ATI). Regions has invested 0% of its portfolio in Allegheny Technologies Incorporated (NYSE:ATI). Credit Agricole S A has 0% invested in the company for 7,902 shares. Northern Trust Corp owns 2.12M shares or 0.01% of their US portfolio. Invesco Ltd holds 0.02% or 4.76 million shares in its portfolio.

More notable recent Allegheny Technologies Incorporated (NYSE:ATI) news were published by: Fool.com which released: “Allegheny Technologies Incorporated Stock Slumps on Earnings Miss” on October 25, 2016, also Fool.com with their article: “Why Allegheny Technologies Incorporated’s Shares Popped 11% Today” published on August 29, 2016, Fool.com published: “Why Allegheny Technologies Incorporated’s Shares Plunged 13% Today” on May 18, 2016. More interesting news about Allegheny Technologies Incorporated (NYSE:ATI) were released by: Fool.com and their article: “Why Allegheny Technologies Incorporated’s Shares Popped 20% Today” published on July 26, 2016 as well as Fool.com‘s news article titled: “Why Allegheny Technologies Incorporated’s Shares Popped 40% in July” with publication date: August 08, 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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