Allegheny Technologies Incorporated (NYSE:ATI) Expected to Post Quarterly Sales of $786.95 Million – Defense World
Posted by admin on Jun 6th, 2022 
Analysts forecast that Allegheny Technologies Incorporated (NYSE:ATI – Get Rating) will announce $786.95 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Allegheny Technologies’ earnings, with estimates ranging from $753.00 million to $831.00 million. Allegheny Technologies reported sales of $616.20 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 27.7%. The company is scheduled to report its next earnings report on Monday, January 1st.
On average, analysts expect that Allegheny Technologies will report full year sales of $3.26 billion for the current financial year, with estimates ranging from $3.08 billion to $3.51 billion. For the next year, analysts expect that the business will post sales of $3.57 billion, with estimates ranging from $3.54 billion to $3.58 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Allegheny Technologies.
Allegheny Technologies (NYSE:ATI – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The basic materials company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.18. Allegheny Technologies had a return on equity of 11.17% and a net margin of 0.02%. The business had revenue of $834.10 million during the quarter, compared to the consensus estimate of $748.04 million. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. Allegheny Technologies’s revenue for the quarter was up 20.4% compared to the same quarter last year.
ATI has been the topic of a number of recent analyst reports. KeyCorp lifted their target price on Allegheny Technologies from $28.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, April 4th. Benchmark boosted their price target on Allegheny Technologies from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, February 18th. StockNews.com initiated coverage on Allegheny Technologies in a report on Thursday, March 31st. They set a “hold” rating on the stock. JPMorgan Chase & Co. boosted their price target on Allegheny Technologies from $26.00 to $31.00 in a report on Friday, February 18th. Finally, Barclays boosted their price target on Allegheny Technologies from $23.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, February 7th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $26.11.
In other Allegheny Technologies news, CMO Kevin B. Kramer sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 14th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the transaction, the chief marketing officer now directly owns 160,338 shares of the company’s stock, valued at $4,810,140. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.82% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Allegheny Technologies by 1.9% in the first quarter. Vanguard Group Inc. now owns 14,083,087 shares of the basic materials company’s stock valued at $377,991,000 after buying an additional 267,434 shares during the period. Capital International Investors raised its position in shares of Allegheny Technologies by 9.8% during the fourth quarter. Capital International Investors now owns 12,176,850 shares of the basic materials company’s stock worth $193,977,000 after purchasing an additional 1,089,416 shares during the period. State Street Corp raised its position in shares of Allegheny Technologies by 14.8% during the first quarter. State Street Corp now owns 9,941,032 shares of the basic materials company’s stock worth $266,817,000 after purchasing an additional 1,279,827 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Allegheny Technologies by 17.3% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,540,724 shares of the basic materials company’s stock worth $72,334,000 after purchasing an additional 669,769 shares during the period. Finally, Fisher Asset Management LLC raised its position in shares of Allegheny Technologies by 9.1% during the first quarter. Fisher Asset Management LLC now owns 2,608,557 shares of the basic materials company’s stock worth $70,014,000 after purchasing an additional 217,126 shares during the period.
Allegheny Technologies stock opened at $27.34 on Monday. Allegheny Technologies has a 12-month low of $13.85 and a 12-month high of $30.74. The company has a current ratio of 2.61, a quick ratio of 1.25 and a debt-to-equity ratio of 2.15. The business’s 50-day moving average price is $27.33 and its two-hundred day moving average price is $22.82.
About Allegheny Technologies (Get Rating)
Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.
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