Allegheny Technologies Incorporated (ATI) Releases Earnings Results, Misses Expectations By $-0.02 EPS

Allegheny Technologies Incorporated (ATI) reported quarterly earnings results on Tuesday, Apr-26-2016. The company reported $-0.58 earnings per share for the quarter, missing the analyst consensus estimate by $-0.02. Analysts had a consensus of $-0.56. The company posted revenue of $757.50 million in the period, compared to analysts expectations of $796.57 million. The company’s revenue was down -32.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS.

Many Wall Street Analysts have commented on Allegheny Technologies Incorporated. Company shares were Reiterated by Deutsche Bank on Mar 23, 2016 to “Hold”, Firm has raised the Price Target to $ 13 from a previous price target of $10 .Allegheny Technologies Incorporated was Initiated by Berenberg to “Hold” on Mar 3, 2016. Shares were Reiterated by Rosenblatt on Feb 11, 2016 to “Buy” and Lowered the Price Target to $ 18 from a previous price target of $23 .

Allegheny Technologies Incorporated opened for trading at $17.47 and hit $18.03 on the upside on Friday, eventually ending the session at $17.61, with a gain of 0.63% or 0.11 points. The heightened volatility saw the trading volume jump to 16,07,588 shares. Company has a market cap of $1,918 M.

In a different news, on Dec 18, 2015, Elizabeth C Powers (Senior VP, CHRO) purchased 5,000 shares at $10.43 per share price. According to the SEC, on Oct 29, 2015, Elliot S Davis (Sr VP, GC, CCO and Secretary) purchased 2,000 shares at $14.36 per share price. On Oct 29, 2015, Richard J Harshman (CEO) purchased 17,500 shares at $14.55 per share price, according to the Form-4 filing with the securities and exchange commission.

Allegheny Technologies Incorporated is a specialty materials and components producer. The Company’s 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. It’s 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. It’s Flat Rolled Products segment produces converts and distributes stainless steel nickel-based alloys specialty alloys and titanium and titanium-based alloys.

Allegheny Technologies Incorporated

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