Barclays raised the price target for the Allegheny Technologies Incorporated (NYSE:ATI) stock from “an Equal weight” to “an Overweight”. The rating was released on March 16, 2021. The research report from Seaport Global Securities has initiated the stock to Buy, with a price target set at $25. The stock was upgraded by The Benchmark Company, who disclosed in a research note on December 04, 2020, from Hold to Buy and set the price objective to $21. In their research brief published December 04, 2020, Barclays analysts upgraded the Allegheny Technologies Incorporated stock from Underweight to Equal Weight with a price target of $16.
Historical Earnings Surprises and Revenue Forecasts
Profit is the most critical financial performance measure. Every investor in a business is looking forward to the earnings report as stock price to increase when earnings exceed market expectations and progressively decrease when earnings do not meet expectations. The firm reported an earnings per share (EPS) of -$0.33 during the last quarter as opposed to a consensus estimate of -$0.36, which indicates the company beat its estimate by $0.03, which implies that the company surprised the market by 8.30%. It appears that the average earnings per share estimate for the current quarter (ending in Mar 2021) is -$0.24. This is an average of 8 analysts’ earnings, where the high earnings per share estimate is -$0.15 and the low earnings per share estimate is -$0.39. According to 7 analyst estimates, an average revenue estimate of $638.31M is projected for the current quarter with a high revenue estimate of $701.24M and a low estimate of $600M.
The latest trade, Performances and Moving Averages give us the following Picture
The share price of Allegheny Technologies Incorporated (NYSE:ATI) raised 4.19% to close Friday’s market session at $23.37, higher as compared to yesterday’s close. The stock price fluctuated between $22.58 and $23.43 throughout the trading session with the volume trading being 2169736 shares, which represented a significant variation when compared to the three months average volume of 1.37 million shares. The firm’s stock price fluctuated 5.99% within the last five trades and 17.14% within the last 30 trades, which was a significant change from the beginning of this year. Despite the fact that the share price increased 159.38% in the last 6 months and 28.97% was added to its value over the previous 3 months. ATI stock is trading at a margin of 6.64%, 11.10% and 61.94% apart from the 20-Day, 50-Day and 200-Day Simple Moving Average prices.
As of the close of trading, ATI deals in the Industrials domain. The stock is trading 1.96 percent below its 52-week high and 276.33 percent above its 52-week low. For example, looking both at the price and the high and low measurements of 52 weeks will give you a clearer picture of the direction the price is heading. The firm’s Weighted Alpha is 186.41. A positive weighted alpha indicates the firm has done well over the course of the year, whereas one below 0 indicates that the firm has done poorly.
What Does Allegheny Technologies Incorporated’s Profitability and Valuation Ratios Tell Us About the Stock?
With regard to the profitability of the company, the operating margin is currently at -44.50 percent and the profit margin is -52.70 percent, and the company has reported a gross margin of 9.80 percent. The profit margin, also known as the revenue ratio or gross profit ratio, is an efficiency figure used to estimate the business’s profitability by comparing net income and sales. The higher the number, the more profits are generated for the company and vice versa.
The stock’s market cap achieved a total value of $2.85 billion as of the last trading session. Market capitalization is the total value of all outstanding shares of a corporation and it is used to measure a company’s market value. The price-to-earnings ratio is a method of assessing corporate values by comparing them to their per-share profit. Forward P/E stands at 37.10. Forward price-to-earnings is calculated using predicted earnings for the next financial year’s P/E determination. The stock has achieved an effective Price-to-Sales Ratio of 0.96 that mirrors the cost to be found for sales by the market. The firm managed a Price-to-Book ratio of 5.67, which equates the market value of a stock with its book value.
Is Insider Trading a Real Thing?
Kramer Kevin B, the Sr. VP, CCMO at Allegheny Technologies Incorporated (ATI) has sold 10,000 shares of firm on Mar 15 at a price of $22.00 against the total amount of $0.22 million. In another inside trade, Davis Elliot S, Sr VP, GC, CCO and Secretary of Allegheny Technologies Incorporated (NYSE:ATI) sold 15,200 shares of the firm on Mar 11 for a total worth of $0.34 million at a price of $22.50. An inside trade which took place on Mar 05, Sr VP, GC, CCO and Secretary of Allegheny Technologies Incorporated Davis Elliot S sold 8,233 shares of firm against total price of $0.17 million at the cost of $20.34 per share.