Cowen & Co. Thinks Allegheny Technologies’ Stock is Going to Recover
Cowen & Co. analyst Gautam Khanna maintained a Buy rating on Allegheny Technologies (ATI) today and set a price target of $32. The company’s shares closed on Friday at $18.37, close to its 52-week low of $18.30.
According to TipRanks.com, Khanna is a 5-star analyst with an average return of 12.7% and a 68.9% success rate. Khanna covers the Consumer Goods sector, focusing on stocks such as L3Harris Technologies Inc, Transdigm Group Inc, and Huntington Ingalls.
Allegheny Technologies has an analyst consensus of Strong Buy, with a price target consensus of $32.33, representing a 76.0% upside. In a report issued on July 29, Barclays also maintained a Buy rating on the stock with a $31 price target.
See today’s analyst top recommended stocks >>
Based on Allegheny Technologies’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $75.1 million. In comparison, last year the company had a net profit of $72.8 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.