Allegheny Technologies Incorporated Has More Gas To Increase After Today’s Bullish Options Activity

 Allegheny Technologies Incorporated Has More Gas To Increase After Today's Bullish Options Activity

In today’s session Allegheny Technologies Incorporated (ATI) registered an unusually high (306) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious ATI increase. With 306 contracts traded and 7154 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: ATI161216C00017500 closed last at: $0.4 or 57.9% down. About 314,955 shares traded hands. Allegheny Technologies Incorporated (NYSE:ATI) has risen 6.56% since April 28, 2016 and is uptrending. It has outperformed by 0.64% the S&P500.

Analysts await Allegheny Technologies Incorporated (NYSE:ATI) to report earnings on January, 24. They expect $-0.11 earnings per share, up 80.36% or $0.45 from last year’s $-0.56 per share. After $-0.21 actual earnings per share reported by Allegheny Technologies Incorporated for the previous quarter, Wall Street now forecasts -47.62% EPS growth.

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. $40 is the highest target while $7 is the lowest. The $18.57 average target is 5.39% above today’s ($17.62) stock price. Allegheny Tech has been the topic of 18 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The company was upgraded on Monday, August 29 by Deutsche Bank. The firm has “Market Perform” rating given on Monday, April 4 by Cowen & Co. The firm has “Buy” rating given on Monday, May 23 by Bank of America. Deutsche Bank upgraded the shares of ATI in a report on Monday, October 5 to “Buy” rating. Cowen & Co maintained it with “Market Perform” rating and $23 target price in Thursday, September 3 report. The stock of Allegheny Technologies Incorporated (NYSE:ATI) earned “Neutral” rating by Bank of America on Tuesday, July 21. The firm earned “Buy” rating on Thursday, October 1 by Stifel Nicolaus. The stock has “Underperform” rating given by Bank of America on Tuesday, October 20. The company was initiated on Friday, September 9 by Seaport Global. As per Friday, December 11, the company rating was upgraded by Rosenblatt.

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 decreased to 1.02 in Q2 2016. Its down 0.20, from 1.22 in 2016Q1. The ratio worsened, 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.
Panagora Asset Mgmt Inc holds 0% or 13,626 shares in its portfolio. California Public Employees Retirement accumulated 0.01% or 426,274 shares. Glenmede Trust Na has invested 0% of its portfolio in Allegheny Technologies Incorporated (NYSE:ATI). Hudock Limited Liability Com has 0% invested in the company for 105 shares. Farmers & Merchants Invs last reported 118,120 shares in the company. Tcw Grp holds 0.27% or 2.77M shares in its portfolio. Macroview Mgmt Limited holds 4,660 shares or 0.26% of its portfolio. Deutsche Retail Bank Ag owns 623,375 shares or 0.01% of their US portfolio. State Board Of Administration Of Florida Retirement System holds 0% of its portfolio in Allegheny Technologies Incorporated (NYSE:ATI) for 76,558 shares. Earnest Prtn Limited Liability Corp holds 0.24% or 1.76 million shares in its portfolio. Bluecrest Mngmt reported 408,522 shares or 0.22% of all its holdings. Private Advisor Grp Incorporated Limited Liability accumulated 11,144 shares or 0.01% of the stock. Amalgamated National Bank has 0.01% invested in the company for 13,482 shares. Principal Fincl Grp accumulated 0.01% or 406,418 shares. Freshford Cap Mngmt Ltd Limited Liability Company accumulated 148,030 shares or 0.56% of the stock.

Allegheny Technologies Incorporated is a specialty materials and components producer. The company has a market cap of $2.04 billion. The Firm operates through two business divisions: High Performance Materials & Components and Flat Rolled Products. It currently has negative earnings. 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.

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.

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.

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