Allegheny Tech (NYSE:ATI) Rating Improved
Berenberg upped shares of Allegheny Tech (NYSE:ATI) from “Sell” rating to “Hold” rating in analysts note revealed to investors and clients on 24 April.
In spite of the company’s rating upgrade NYSE:ATI is now trading 0.00% lower at $17.10 as of 2:02 AM New York time. Allegheny Tech’s stock is 0% in the last 200 days. It has underperformed the Standard & Poor’s 500 index, which has added 11.86% in the same time.
According to data compiled by Thomson Reuters, Allegheny Tech (NYSE:ATI)’s stock is covered by 7 equity analysts across the Street, with 0 analysts giving it a Sell rating, 0 a Buy rating, while 0 consider it a Hold. The 12-month consensus target price for the stock is $16.13, which reflects an downside potential of 5.67% over the current price.
Mcclain Value Management Llc had the largest stake with ownership of 391,439 shares as of Q2 2015 for 5.68% of the US long equity exposure. Van Den Berg Management I Inc is another bullish investment manager who is possessing 2.47 million shares of Allegheny Tech or 5.51% of their US long equity exposure. Furthermore, Ws Management Lllp have 3.32% of their US long equity exposure invested in the company for 4.80 million shares. The Wisconsin-based fund Oarsman Capital Inc. disclosed it had bought so far a stake worth about 2.73% of the investment manager’s stock portfolio in Allegheny Tech. The Connecticut-based fund Sasco Capital Inc Ct is also positive about the stock, possessing 295,928 shares or 2.39% of their US long equity exposure.
Allegheny Tech (NYSE:ATI) Profile
Allegheny Technologies Incorporated is a manufacturer of specialty materials and complex components. The Company operates through two business segments: High Performance Materials & Components (HPMC), and Flat Rolled Products (FRP). The HPMC segment produces, converts and distributes a range of materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, zirconium and related alloys, including hafnium and niobium, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, plus precision forgings, castings, components and machined parts.
Allegheny Tech (NYSE:ATI) closed at $17.1 yesterday. A total of 700 shares of the company’s stock traded hands. This is down from average of 2.44 million shares. Allegheny Tech has a 52 week low of $10.93 and a 52 week high of $23.69. The company has a market cap of $1.86 billion and a P/E ratio of 0.
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