Stock Mover of the Day: Time to Buy Allegheny Technologies Incorporated After Today’s Significant Increase?

Stock Mover of the Day: Time to Buy Allegheny Technologies Incorporated After Today's Significant Increase?

The stock of Allegheny Technologies Incorporated (NYSE:ATI) is a huge mover today! About 1.63 million shares traded hands. Allegheny Technologies Incorporated (NYSE:ATI) has declined 6.56% since April 20, 2016 and is downtrending. It has underperformed by 11.11% the S&P500.
The move comes after 6 months positive chart setup for the $1.98 billion company. It was reported on Nov, 22 by Barchart.com. We have $18.88 PT which if reached, will make NYSE:ATI worth $118.80 million more.

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) has “Buy” rating given on Monday, August 29 by Deutsche Bank. Rosenblatt upgraded the stock to “Buy” rating in Friday, December 11 report. Stifel Nicolaus maintained the stock with “Buy” rating in Thursday, October 1 report. The stock of Allegheny Technologies Incorporated (NYSE:ATI) has “Buy” rating given on Monday, October 5 by Deutsche Bank. The rating was downgraded by Bank of America on Tuesday, July 21 to “Neutral”. Bank of America upgraded the stock to “Buy” rating in Monday, May 23 report. The stock of Allegheny Technologies Incorporated (NYSE:ATI) has “Market Perform” rating given on Thursday, September 3 by Cowen & Co. Cowen & Co initiated Allegheny Technologies Incorporated (NYSE:ATI) on Monday, April 4 with “Market Perform” rating. The stock has “Underperform” rating given by Bank of America on Tuesday, October 20. The firm has “Buy” rating given on Friday, September 9 by Seaport Global.

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 decreased to 1.02 in Q2 2016. Its down 0.20, from 1.22 in 2016Q1. The ratio fall, 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.
Mutual Of America Cap Mngmt Limited has 80,302 shares for 0.02% of their US portfolio. Van Den Berg Mgmt I Inc holds 4.11% or 2.51 million shares in its portfolio. American National Ins Com Tx has 89,440 shares for 0.07% of their US portfolio. Tower Cap Ltd Company (Trc), a New York-based fund reported 5,334 shares. Kennedy Cap, a Missouri-based fund reported 48,411 shares. Parkside Bancorporation Trust holds 0% or 577 shares in its portfolio. Checchi Advisers Ltd Liability Co has 0% invested in the company for 329 shares. Regions Corporation last reported 0% of its portfolio in the stock. Moreover, Liberty Mutual Gru Asset Management has 0.02% invested in Allegheny Technologies Incorporated (NYSE:ATI) for 47,245 shares. Bronson Point Mngmt Ltd Limited Liability Company has 1.07% invested in the company for 250,000 shares. Moreover, Diam Limited has 0% invested in Allegheny Technologies Incorporated (NYSE:ATI) for 24,000 shares. Da Davidson And Co owns 45,030 shares or 0.02% of their US portfolio. Finance Architects Incorporated has 2,500 shares for 0.01% of their US portfolio. Walleye Trading Ltd Liability holds 0% or 1,499 shares in its portfolio. Texas Permanent School Fund has 0.01% invested in the company for 83,252 shares.

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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