Northcoast slashes price target on ATI Inc [ATI] – find out why.

ATI Inc [NYSE: ATI] slipped around -2.32 points on Thursday, while shares priced at $38.55 at the close of the session, down -5.68%. The company report on February 1, 2024 at 7:30 AM that ATI Announces Fourth Quarter and Full Year 2023 Results.

Continued strong performance and year-over-year revenue growth in aerospace and defense.

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Q4 2023 sales of $1.06 billion, up 5% over Q4 2022; full year 2023 sales of $4.17 billion, up 9% over full year 2022.

Compared to the average trading volume of 1.39M shares, ATI reached a trading volume of 3961788 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about ATI Inc [ATI]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ATI shares is $53.00 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 1.22. 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.

Northcoast have made an estimate for ATI Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 20, 2023.

The Average True Range (ATR) for ATI Inc is set at 1.43, with the Price to Sales ratio for ATI stock in the period of the last 12 months amounting to 1.18. The Price to Book ratio for the last quarter was 3.97, with the Price to Cash per share for the same quarter was set at 5.83.

How has ATI stock performed recently?

ATI Inc [ATI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.35. With this latest performance, ATI shares dropped by -12.98% in over the last four-week period, additionally sinking by -14.47% over the last 6 months – not to mention a rise of 5.94% 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 31.74, with the RSI for the last a single of trading hit 25.29, and the three-weeks RSI is set at 36.49 for ATI Inc [ATI]. The present Moving Average for the last 50 days of trading for this stock 42.84, while it was recorded at 40.71 for the last single week of trading, and 41.67 for the last 200 days.

ATI Inc [ATI]: Deeper insight into the fundamentals

ATI Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.53 and a Current Ratio set at 2.80.

Earnings analysis for ATI Inc [ATI]

With the latest financial reports released by the company, ATI Inc posted 0.53/share EPS, while the average EPS was predicted by analysts to be reported at 0.52/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 1.90%. 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 ATI Inc go to 18.90%.

Insider trade positions for ATI Inc [ATI]

The top three institutional holders of ATI stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ATI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ATI stock with ownership which is approximately 5.8325%.