Market Analysts see Allegheny Technologies Incorporated [ATI] gaining to $23. Time to buy?

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Allegheny Technologies Incorporated [NYSE: ATI] closed the trading session at $29.11 on 04/21/22. The day’s price range saw the stock hit a low of $29.01, while the highest price level was $30.60. The company report on April 5, 2022 that ATI Announces Webcast for First Quarter 2022 Results.

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Allegheny Technologies Incorporated (NYSE: ATI) will provide live Internet listening access to its conference call with the financial community scheduled for Wednesday, May 4, 2022 at 10:30 a.m. ET. The conference call will be conducted after the Company’s planned release of first quarter results. The conference call will be broadcast, and accompanying presentation slides will be available, at ATImetals.com. To access the broadcast, visit ATImetals.com and select “Conference Call.” Conference call replay will be available on ATImetals.com.

The stocks have a year to date performance of 82.74 percent and weekly performance of 2.39 percent. The stock has been moved at 76.21 percent over the last six months. The stock has performed 7.54 percent around the most recent 30 days and changed 43.82 percent over the most recent 3-months.

If compared to the average trading volume of 2.41M shares, ATI reached to a volume of 2624346 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Allegheny Technologies Incorporated [ATI]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ATI shares is $31.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ATI stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cowen have made an estimate for Allegheny Technologies Incorporated shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 11, 2022. The new note on the price target was released on January 07, 2022, representing the official price target for Allegheny Technologies Incorporated stock. Previously, the target price had yet another raise to $18, while Wolfe Research analysts kept a Peer Perform rating on ATI stock. On October 15, 2021, analysts decreased their price target for ATI shares from 25 to 23.

The Average True Range (ATR) for Allegheny Technologies Incorporated is set at 1.22, with the Price to Sales ratio for ATI stock in the period of the last 12 months amounting to 1.22. The Price to Book ratio for the last quarter was 5.41, with the Price to Cash per share for the same quarter was set at 5.88.

ATI stock trade performance evaluation

Allegheny Technologies Incorporated [ATI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.39. With this latest performance, ATI shares gained by 7.54% in over the last four-week period, additionally plugging by 76.21% over the last 6 months – not to mention a rise of 29.78% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ATI stock in for the last two-week period is set at 59.58, with the RSI for the last a single of trading hit 57.87, and the three-weeks RSI is set at 60.81 for Allegheny Technologies Incorporated [ATI]. The present Moving Average for the last 50 days of trading for this stock 26.45, while it was recorded at 29.71 for the last single week of trading, and 19.94 for the last 200 days.

Allegheny Technologies Incorporated [ATI]: An insightful look at the core fundamentals

Allegheny Technologies Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 2.70.

Earnings per share (EPS) analysis for Allegheny Technologies Incorporated [ATI] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ATI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Allegheny Technologies Incorporated go to -4.50%.

Allegheny Technologies Incorporated [ATI]: Insider Ownership positions

There are presently around $3,946 million, in the hands of institutional investors. The top three institutional holders of ATI stocks are: BLACKROCK INC. with ownership of 20,864,023, which is approximately 3.253% of the company’s market cap and around 1.10% of the total institutional ownership; VANGUARD GROUP INC, holding 13,815,653 shares of the stock with an approximate value of $413.92 million in ATI stocks shares; and CAPITAL INTERNATIONAL INVESTORS, currently with $364.82 million in ATI stock with ownership of nearly 9.826% of the company’s market capitalization.

125 institutional holders increased their position in Allegheny Technologies Incorporated [NYSE:ATI] by around 9,461,654 shares. Additionally, 119 investors decreased positions by around 11,339,872 shares, while 32 investors held positions by with 110,907,425 shares. The mentioned changes placed institutional holdings at 131,708,951 shares, according to the latest SEC report filing. ATI stock had 42 new institutional investments in for a total of 1,288,826 shares, while 26 institutional investors sold positions of 1,284,213 shares during the same period.