KeyBanc Sticks to Its Buy Rating for Allegheny Technologies (ATI)


In a report released today, Philip Gibbs from KeyBanc maintained a Buy rating on Allegheny Technologies (ATI), with a price target of $28.00. The company’s shares closed last Monday at $21.32.

According to TipRanks.com, Gibbs is ranked #2979 out of 5543 analysts.

Allegheny Technologies has an analyst consensus of Moderate Buy, with a price target consensus of $27.40, implying a 31.7% upside from current levels. In a report issued on October 7, Cowen & Co. also maintained a Buy rating on the stock with a $32.00 price target.

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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 $50.5 million.

Based on the recent corporate insider activity of 68 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.

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.

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