ExodusPoint Capital Management LP, a financial investment firm, recently acquired a new stake in ATI Inc. (NYSE:ATI) during the first quarter of this year. According to their Form 13F filing with the Securities & Exchange Commission, the fund purchased 91,940 shares of ATI’s stock, amounting to approximately $3.6 million in value. This meant that ExodusPoint Capital Management LP owned around 0.07% of ATI by the end of this reporting period.
ATI, a basic materials company listed on the New York Stock Exchange (NYSE:ATI), released its quarterly earnings results on Wednesday, August 2nd. The company reported an earnings per share (EPS) of $0.59 for the quarter, surpassing analysts’ consensus estimates of $0.55 by $0.04.
With a net margin of 6.88% and a return on equity of 26.99%, ATI demonstrated strong financial performance during this period. The company achieved revenues amounting to $1.05 billion for the quarter, aligning closely with analyst predictions.
Equities research analysts are optimistic about ATI’s future performance and anticipate that the company will post earnings per share of 2.26 for the current fiscal year.
Investors and analysts alike will be closely monitoring ATI’s future developments and quarterly reports to assess its growth trajectory and overall financial health.
Please note that additional information regarding ATI can be found in our latest report on the company available upon request.
Reference Date: August 30, 2023
ATI Inc.
ATI
Strong Buy
Updated on: 03/12/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Investor Interest and Market Analysis of ATI Inc.: Assessing Growth Potential and Analyst Ratings
In the third quarter of this year, a number of institutional investors and hedge funds have been actively buying and selling shares of ATI Inc., a basic materials company. Among these investors, Vanguard Group Inc. has lifted its position in ATI by 3.8%, now owning 14,354,401 shares valued at $381,970,000. State Street Corp has also increased its position in ATI by 14.8%, now owning 9,941,032 shares valued at $266,817,000. Geode Capital Management LLC has increased its stake by 3.7%, now holding 2,256,055 shares valued at $67,365,000. Norges Bank acquired a new position in ATI valued at $50,336,000 during the fourth quarter. Invesco Ltd., on the other hand, increased its stake in ATI by an impressive 105.4% during the first quarter.
The market opening price for ATI stock on Wednesday was $44.78. The stock’s performance has shown a range between a 52-week low of $25.39 and a 52-week high of $47.92. Moreover,the company exhibits a quick ratio of 1.20 and current ratio of 2.74 which reveals good liquidity ratios compared to the industry average but not impressive enough that we can say it is highly liquidin terms of short-term obligations.And as part of its capital structure,the company carries a debt-to-equity ratio of 1.30 which indicates that it has higher levelsof leverage when it comes to using borrowed money.The 50-day simple moving average for ATI is noted to be $44.29 whilethe200-day simple moving average is captured at$40
ATI’s market cap is currently standing at around$5 billion; furthermore,it showcasesa price-to-earnings (P/E) ratioof22 reportedto behigher than the industry average.The stock also has a beta of 1.25 which highlights that it tends to react more than the market specifically in terms of price changes.
In terms of recent insider trades, ATI has witnessed a share sell-off by some insiders during varying dates. On June 12th, Insider Elliot S. Davis sold 7,039 shares at an average price of $40.00, accumulating to a total transaction valued at $281,560.00.On August 10th Vice President Timothy J.Harris sold around 12,858 shares at an average price of $43.57 with the sales transaction amounting to approximately $560,223.06.The company’s insiders have over the last three months disposed off 33,975 shares valued at about$1.46 million in total which amount to be roughly0.82% ownership nevertheleses Company insiders still own this percentualexhibit ownership on their part.
Research reports have also been released on ATI’s performance lately.A report from StockNews.com issued a “hold” rating on ATI’s stock.Meanwhile Barclays has given the company an “overweight” rating and lifted its price target from $42 to $51.JPMorgan Chase & Co.also predicts positive growth for the company lifting its target priceper sharefrom $45 to$50.KeyCorp lifted its target price per sharefrom$47to$49 creating an overweight rating.Finally,Northcoast Researchhad led witha research report that provided abuy ratingalongside apricetargetof$54.Consequently,Bloombergholds that ATI currentlyhasan overallconsensus ratingas’amoderate buy’a valuation restingontheaverageofferedprojectionsofanalysts’pricetargetsatroughly$49.33.
These recent activities clearly indicatea surge in investor interest towards ATI Inc., reflecting confidence in its potential for growth and profitability moving forward.Although it may seem a labyrinth of complexities, these statistics and insider activities can be crucial in assessing the company’s standing.We shall ascertain whether these developments influence the overall market perception of ATI or if other factors come into playas time moves forward.
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