Allegheny Technologies Incorporated (ATI) has risen sharply, recording gains of 26.28% in the past 4 weeks. However, the stock has corrected -3.14% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 23.22% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Allegheny Technologies Incorporated (NYSE:ATI): The stock opened at $17.34 on Friday but the bulls could not build on the opening and the stock topped out at $17.68 for the day. The stock traded down to $17.17 during the day, due to lack of any buying support eventually closed down at $17.25 with a loss of -0.06% for the day. The stock had closed at $17.26 on the previous day. The total traded volume was 2,001,131 shares.
The stock has recorded a 20-day Moving Average of 7.85% and the 50-Day Moving Average is 21.59%. Allegheny Technologies Inc. is up 11.63% in the last 3-month period. Year-to-Date the stock performance stands at 55.15%.
Allegheny Technologies Incorporated (ATI) stock is expected to deviate a maximum of $2.95 from the average target price of $18.2 for the short term period. 5 Street Experts have initiated coverage on the stock with the most promising target being $21 and the most muted being $15.
Allegheny Technologies Incorporated is a specialty materials and components producer. The Companys standard products include specialty stainless sheet, stainless steel sheet and stainless steel plate. It operates through two business segments: High Performance Materials & Components and Flat Rolled Products. Its High Performance Materials & Components segment produces, converts and distributes high performance materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, zirconium and related alloys. Its Flat Rolled Products segment produces, converts and distributes stainless steel, nickel-based alloys, specialty alloys, and titanium and titanium-based alloys.