Allegheny Technologies Incorporated (ATI) was Upgraded by Deutsche Bank to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 20 from a previous price target of $15 . Earlier the firm had a rating of “Hold ” on the company shares. Deutsche Bank advised their investors in a research report released on Aug 29, 2016.
On the company’s financial health, Allegheny Technologies Incorporated reported $-0.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.16 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $-0.37. The company had revenue of $810.50 million for the quarter, compared to analysts expectations of $795.70 million. The company’s revenue was down -20.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.15 EPS.
Allegheny Technologies Incorporated opened for trading at $17.8 and hit $18.02 on the upside on Tuesday, eventually ending the session at $17.66, with a gain of 0.34% or 0.06 points. The heightened volatility saw the trading volume jump to 15,46,063 shares. Company has a market cap of $1,924 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.