BlackRock Fund Advisors recently announced the acquisition of new stake in ATI Inc. (NYSE:ATI). The institutional investor has increased its shareholding in the Industrials company by 4.40% to 19.31 million shares with purchase of 0.81 million shares. This fresh investment now brings its stake to 15.02% valued currently at $785.04 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.11 million to 14.14 million shares. And Capital Research & Management Co has lifted its position by 9.56% or 1.13 million shares – to 12.95 million shares.
With over 2.1 million ATI Inc. (ATI) shares trading Tuesday and a closing price of $39.08 on the day, the dollar volume was approximately $82.17 million. The shares have shown a positive half year performance of 23.40% and its price on 03/14/23 gained nearly 2.04%. Currently, there are 129.30M common shares owned by the public and among those 126.99M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for ATI have a consensus price objective of $44.14. The analysts have set the share’s price value over the next 12 months at a high of $50.00 and a low of $33.00. The average price target is 11.18% above its recent price level and a downside to the estimated low will see the stock lose -18.42% over that period. But an upside of 21.84% will see the stock hit the forecast high price target while median target price for the stock is $45.00.
Insiders at the company have transacted a total of 40 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 17 of these insider trades were purchases, accounting for 164,106 shares. Insider sales of the common stock occurred on 23 occasions, with total insider shares sold totaling 181,255 shares.
The top 3 mutual fund holders in ATI Inc. are iShares Core S&P Small Cap ETF, American Funds Growth Fund of Ame, and Vanguard Total Stock Market Index. iShares Core S&P Small Cap ETF owns 9.83 million shares of the company’s stock, all valued at over $399.61 million. The company bought an additional 19708.0 shares recently to bring their total holdings to about 7.64% of the shares outstanding. Vanguard Total Stock Market Index bought 39158.0 shares to bring its total holdings to over 3.98 million shares at a value of $161.67 million. Vanguard Total Stock Market Index now owns shares totaling to 3.09% of the shares outstanding.
Shares of ATI Inc. (NYSE: ATI) opened at $39.54, up $1.24 from a prior closing price of $38.30. However, the script later moved the day high at 40.13, up 2.04%. The company’s stock has a 5-day price change of -7.17% and 32.38% over the past three months. ATI shares are trading 30.88% year to date (YTD), with the 12-month market performance up to 47.47% higher. It has a 12-month low price of $20.51 and touched a high of $43.32 over the same period. ATI has an average intraday trading volume of 1.40 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.93%, 4.53%, and 29.02% respectively.
Institutional ownership of ATI Inc. (NYSE: ATI) 129.30M shares outstanding. Mutual fund holders own 5.01%, while other institutional holders and individual stakeholders account for 64.54% and 39.52% respectively.
It has a market capitalization of $5.20B and a beta (3y monthly) value of 1.20. The stock’s trailing 12-month PE ratio is 52.60, while the earnings-per-share (ttm) stands at $0.74. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.06% over the week and 3.05% over the month.
Analysts forecast that ATI Inc. (ATI) will achieve an EPS of $0.5 for the current quarter, $0.55 for the next quarter and $2.73 for 2024. The lowest estimate earnings-per-share for the quarter is $0.46 while analysts give the company a high EPS estimate of $0.51. Comparatively, EPS for the current quarter was $0.4 a year ago. Earnings per share for the fiscal year are expected to increase by 417.80%, and 23.44% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate ATI Inc. (ATI) as a “Strong Buy” at a consensus score of 1.90. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 0 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ATI, a number of firms have released research notes about the stock. Wolfe Research stated their Outperform rating for the stock in a research note on August 05, 2022, with the firm’s price target at $33. Cowen coverage for the ATI Inc. (ATI) stock in a research note released on January 11, 2022 offered a Outperform rating with a price target of $23. Berenberg was of a view on January 07, 2022 that the stock is Buy, while Wolfe Research gave the stock Peer Perform rating on November 17, 2021, issuing a price target of $18. JP Morgan on their part issued Overweight rating on October 15, 2021.
