Price Target Update on Allegheny Technologies Incorporated (NYSE:ATI)

Allegheny Technologies Incorporated (NYSE:ATI) : 5 Wall Street analysts covering Allegheny Technologies Incorporated (NYSE:ATI) believe that the average level the stock could reach for the short term is $15.4. The maximum price target given is $20 and the minimum target for short term is around $10, hence the standard deviation is calculated at $4.45.

Other Equity analysts have also commented on the company shares. In the latest statement by the brokerage house, Bank of America upgrades its outlook on Allegheny Technologies Incorporated (NYSE:ATI). The current rating of the shares is Buy, according to the research report released by the firm. Previously, the company had a rating of Underperform. The rating by the firm was issued on May 23, 2016.

Allegheny Technologies Incorporated (NYSE:ATI): stock turned positive on Thursday. Though the stock opened at $13.8, the bulls momentum made the stock top out at $14.24 level for the day. The stock recorded a low of $13.55 and closed the trading day at $14.21, in the green by 6.28%. The total traded volume for the day was 2,348,978. The stock had closed at $13.37 in the previous days trading.

The company shares have dropped -57.46% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $32.51 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $13.33 and the 200 Day Moving Average price is recorded at $13.08. On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Senior VP, CHRO) of Allegheny Technologies Inc, Powers Elizabeth C, had purchased 5,000 shares in a transaction dated on December 16, 2015. The transaction was executed at $10.43 per share with total amount equaling $52,150.

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.

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