In a report released yesterday, Gautam Khanna from Cowen & Co. maintained a Buy rating on Allegheny Technologies (ATI), with a price target of $32. The company’s shares closed yesterday at $24.98.
According to TipRanks.com, Khanna is a 5-star analyst with an average return of 13.4% and a 76.2% success rate. Khanna covers the Consumer Goods sector, focusing on stocks such as Transdigm Group Inc, Huntington Ingalls, and Vista Outdoor.
Currently, the analyst consensus on Allegheny Technologies is a Strong Buy with an average price target of $36.25, a 45.1% upside from current levels. In a report issued on April 8, Buckingham also reiterated a Buy rating on the stock with a $45 price target.
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Based on Allegheny Technologies’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $41.1 million. In comparison, last year the company earned revenue of $979 million and had a net profit of $58 million.
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ATI in relation to earlier this year.
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Allegheny Technologies, Inc. engages in the manufacture of specialty materials and components for different industries which include aerospace and defense, oil and gas, chemical process, and electrical energy. It operates through the High Performance Materials and Components (HPMC) and Flat Rolled Products (FRP) segments.
