The stock of Allegheny Technologies Incorporated (NYSE:ATI) is a huge mover today! About 597,493 shares traded hands. Allegheny Technologies Incorporated (NYSE:ATI) has declined 4.26% since April 5, 2016 and is downtrending. It has underperformed by 6.22% the S&P500.
The move comes after 6 months positive chart setup for the $1.63B company. It was reported on Nov, 8 by Barchart.com. We have $24.78 PT which if reached, will make NYSE:ATI worth $1.11B more.
Allegheny Technologies Incorporated (NYSE:ATI) Ratings Coverage
Out of 8 analysts covering Allegheny Tech (NYSE:ATI), 7 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 88% are positive. Allegheny Tech has been the topic of 18 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was initiated by Cowen & Co with “Market Perform” on Monday, April 4. Cowen & Co maintained Allegheny Technologies Incorporated (NYSE:ATI) on Thursday, September 3 with “Market Perform” rating. The stock of Allegheny Technologies Incorporated (NYSE:ATI) earned “Buy” rating by Rosenblatt on Thursday, February 11. Stifel Nicolaus maintained the shares of ATI in a report on Thursday, October 1 with “Buy” rating. Bank of America downgraded the stock to “Neutral” rating in Tuesday, July 21 report. The rating was downgraded by Bank of America to “Underperform” on Tuesday, October 20. Bank of America upgraded the stock to “Buy” rating in Monday, May 23 report. As per Monday, August 29, the company rating was upgraded by Deutsche Bank. The firm has “Buy” rating given on Friday, September 9 by Seaport Global. Buckingham Research maintained Allegheny Technologies Incorporated (NYSE:ATI) rating on Tuesday, February 9. Buckingham Research has “Buy” rating and $20 price target.
According to Zacks Investment Research, “Allegheny Technologies Incorporated is one of the largest and most diversified producers of specialty materials in the world. The company’s talented people use innovative technologies to offer growing global markets a wide range of specialty materials including stainless steel, nickel-based and cobalt-based alloys and superalloys, titanium and titanium alloys, specialty steel alloys, zirconium and related alloys, and tungsten-based specialty materials. The goal is to be the low cost, high quality supplier to global markets. (PRESS RELEASE)”
Insitutional Activity: The institutional sentiment increased to 1.22 in 2016 Q2. Its up 0.14, from 1.08 in 2016Q1. The ratio increased, as 34 funds sold all Allegheny Technologies Incorporated shares owned while 56 reduced positions. 26 funds bought stakes while 84 increased positions. They now own 96.83 million shares or 13.70% more from 85.16 million shares in 2016Q1.
Private Harbour Investment Mgmt & Counsel Lc last reported 145,865 shares in the company. Adirondack Trust has 0% invested in the company for 20 shares. Texas Permanent School Fund reported 83,252 shares or 0.01% of all its holdings. Qs Lc has 0% invested in the company for 48 shares. Icm Asset Mngmt Wa last reported 1.52% of its portfolio in the stock. Moreover, Parkside Commercial Bank Tru has 0% invested in Allegheny Technologies Incorporated (NYSE:ATI) for 577 shares. Moreover, Citigroup has 0% invested in Allegheny Technologies Incorporated (NYSE:ATI) for 90,973 shares. Boston Prtn has invested 0.01% of its portfolio in Allegheny Technologies Incorporated (NYSE:ATI). Moreover, Bowen Hanes & Co has 0.86% invested in Allegheny Technologies Incorporated (NYSE:ATI) for 1.24 million shares. Blackrock Gp Limited last reported 0% of its portfolio in the stock. Freshford Cap Mgmt Ltd Com last reported 0.56% of its portfolio in the stock. Hsbc Pcl holds 0% or 48,604 shares in its portfolio. Price T Rowe Associate Incorporated Md holds 0% or 82,082 shares in its portfolio. Creative Planning has 94,515 shares for 0.01% of their US portfolio. Nationwide Fund holds 0.01% or 266,549 shares in its portfolio.
More notable recent Allegheny Technologies Incorporated (NYSE:ATI) news were published by: Fool.com which released: “Allegheny Technologies Incorporated Stock Slumps on Earnings Miss” on October 25, 2016, also Fool.com with their article: “Why Allegheny Technologies Incorporated’s Shares Popped 11% Today” published on August 29, 2016, Fool.com published: “Why Allegheny Technologies Incorporated’s Shares Popped 20% Today” on July 26, 2016. More interesting news about Allegheny Technologies Incorporated (NYSE:ATI) were released by: Fool.com and their article: “Why Allegheny Technologies Incorporated’s Shares Plunged 13% Today” published on May 18, 2016 as well as Fool.com‘s news article titled: “Why Allegheny Technologies Incorporated’s Shares Popped 40% in July” with publication date: August 08, 2016.
ATI Company Profile
Allegheny Technologies Incorporated (ATI), incorporated on August 26, 1999, is a specialty materials and components producer. The Firm operates through two business divisions: High Performance Materials & Components and Flat Rolled Products. ATI’s products include titanium and titanium alloys, nickel alloys and specialty steels, precision forgings, castings and machined components, zirconium and related alloys, precision and engineered stainless steel strip, and grain-oriented electrical steel. The Company’s standard products include specialty stainless sheet, stainless steel sheet and stainless steel plate. It is engaged in the production of titanium alloys, nickel and cobalt alloys and superalloys, and vacuum-melted specialty alloys used in the manufacture of components for both commercial and military jet engines, as well as replacement parts for those engines. It also produces titanium alloys, vacuum-melted specialty alloys and stainless alloys for use in commercial and military airframes, airframe components and missiles. Titanium and titanium alloys are used to produce jet engine components, such as blades, vanes, discs, casings and airframe components, such as structural members, landing gear, hydraulic systems and fasteners.
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