Allegheny Tech (NYSE:ATI) Stock Upgrade
In a recent research report shared with investors and clients earlier today, Rosenblatt raised Allegheny Tech (NYSE:ATI) shares to a solid “Buy” rating from their previous “Neutral” rating and they currently have a $23.0 target price on shares. Rosenblatt’s target price provides a possible upside of 69.37% over the stock price of the stock.
From a total of 7 analysts covering Allegheny Tech (NYSE:ATI) stock, 2 rate it a ”Buy”, 2 a “Sell”, and 4 a ”Hold”. This means that 25% of the ratings are positive. The highest target price is $40 while the lowest target price is $15. The mean of all analyst targets is $22 with a 80.41% above today’s ($13.58) stock price. Allegheny Tech was the topic of 8 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Deutsche Bank downgraded shares on October 21 to “Hold” rating. Deutsche Bank upgraded shares to “Buy” rating and $20 target share price in a report from an October 5. Stifel Nicolaus maintained ATI stock in a recent report from October 1 with “Buy” rating.
The stock closed the day at $13.58 during the previous session. It is down 61.95% since May 8, 2015 and is downtrending. It has underperformed by 58.93% the S&P500.
The overall sentiment of institutions has decreased to 0.9 in Q2 2015. Its down 0.14, from 1.04 in 2015Q2. The ratio dived, as 82 institutions have sold all the shares of Allegheny Technologies Incorporated that they owned while 70 funds have taken shares off the table. 37 funds have purchased shares for the first time while 100 added to their positions. These institutions now hold 94.28 million shares or 13.07% more than the 83.38 million shares they owned in 2015Q2.
The Fund Kitzinger Lautmann Capital Management Inc currently is holding shares equating to 5.66% of its total portfolio in Allegheny Technologies Incorporated representing a total of 1.13 million shares. Another fund,Mcclain Value Management Llc, is holding a total of 1.02 million shares equating to 4.56% of their holdings. Additionally, North Run Capital Lp has a 2.55 million share stake in Allegheny Technologies Incorporated which represents 3.55% of their total portfolio. The Fund, Van Den Berg Management I Inc, based out of Texas, has also built up a stake in the stock, which represents a total of 2.8% of their total portfolio. Finally Platinum Investment Management Ltd, a fund which is based in the state of Australia reported a total holdings of 5.55 million shares.
Insider activity is a very important aspect to track on any stock. Going back to October 23, 2015, shareholders of Allegheny Technologies Incorporated have witnessed 1 buying transaction, and a total of 0 insider sales equating to a net activity of approximately $95,980 . Pipski John R bought 7,000 shares worth approximately $95,980.
Allegheny Technologies Incorporated is a specialty materials and components producer. The company has a market cap of $1.48 billion. The Company’s standard products include specialty stainless sheet, stainless steel sheet and stainless steel plate. It currently has negative earnings. It operates through two business divisions: High Performance Materials & Components and Flat Rolled Products.
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)” Get a free copy of the Zacks research report on Allegheny Technologies Incorporated (ATI).