On Tuesday Cowen indicated its target price on Allegheny Technologies Incorporated (NYSE:ATI) shares issuing the company with a "Market Perform" rating. Allegheny Technologies's revenue for the quarter was up 7.7% compared to the same quarter past year. These analysts and investment firms use various valuation methods to decide a price target for a stock.
U.S. based company, Allegheny Technologies Incorporated (ATI)'s latest closing price distance was -1.97% from the average-price of 200 days while it maintained a distance from the 50 Day Moving Average at -10.03% and -4.12% compared with the 20 Day Moving Average. The business is expected to report its next quarterly earnings results before the market opens on Tuesday, April 25th. The institutional investor owned 3,289,400 shares of the company's stock after buying an additional 967,300 shares during the period. 1,640,209 shares of the company's stock traded hands. Zacks' earnings per share averages are a mean average based on a survey of analysts that follow Allegheny Technologies. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.07. Allegheny Technologies had a negative return on equity of 6.15% and a negative net margin of 20.45%. The firm had revenue of $796 million for the quarter, compared to analysts' expectations of $800.11 million. In contrast to the year ago quarter EPS was at 0.18.
Several equities research analysts have recently weighed in on ATI shares.
Previously on 3/21/2017, Longbow Research reported on Allegheny Technologies Incorporated (NYSE:ATI) raised the target price from $0.00 to $24.00. Bank of America Corp downgraded Allegheny Technologies from a "buy" rating to an "underperform" rating and set a $16.00 target price on the stock.in a report on Friday, January 20th. The consensus rating is 0, indicating analysts in general look favorably on the company's future prospects.
In addition to Cowen reporting its target price, a total of 7 brokers have issued a report on the stock. The analysts, on average, are forecasting a $8.35 price target, but the stock is already up 11.43% from its recent lows.
Among 10 analysts covering Allegheny Tech (NYSE:ATI), 7 have Buy rating, 2 Sell and 1 Hold.
2/2/2017-Berenberg Bank was Downgraded by analysts at Berenberg Bank from a "Hold " rating to a " Sell" rating. The correct version of this news story can be read at https://transcriptdaily.com/2017/04/20/allegheny-technologies-incorporated-ati-to-post-q1-2017-earnings-of-0-12-per-share-keycorp-forecasts.html. The last close places the company's stock about $6.77 off its 52 week high of $23.69 and $5.99 above the 52 week low of $10.93. In order to determine directional movement, the 50-day and 200-day moving averages for Windstream Holdings, Inc. The market capitalization of the company is at $1.87 Billion. If you are reading this piece of content on another website, it was illegally copied and republished in violation of United States and worldwide trademark & copyright laws. If you are reading this article on another website, it was stolen and reposted in violation of United States & global copyright legislation. LS Investment Advisors LLC now owns 7,499 shares of the basic materials company's stock worth $136,000 after buying an additional 533 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Allegheny Technologies by 2.2% in the first quarter. ATI has P/E (Price to Earnings ttm) value of 0, Forward P/E of 15.82, P/C (Price to cash per share) of 0 and Price to Free Cash Flow (P/FCF) value of 0. In the past three months the stock value surged 5.60%. Bessemer Group Inc. boosted its position in shares of Allegheny Technologies by 14.9% in the fourth quarter. Ameriprise Financial Inc. now owns 781,920 shares of the company's stock valued at $14,130,000 after buying an additional 140,106 shares in the last quarter.
Allegheny Technologies Incorporated is a manufacturer of specialty materials and complex components.