ATI Target of Unusually Large Options Trading (NYSE:ATI)

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ATI Inc. (NYSE:ATIGet Rating) saw unusually large options trading activity on Wednesday. Investors bought 4,018 call options on the stock. This represents an increase of 582% compared to the average daily volume of 589 call options.

ATI Price Performance

Shares of ATI stock opened at $30.16 on Thursday. ATI has a 12-month low of $13.85 and a 12-month high of $33.31. The firm has a market cap of $3.92 billion, a PE ratio of 754.19 and a beta of 1.23. The company’s fifty day simple moving average is $27.09 and its two-hundred day simple moving average is $26.60. The company has a quick ratio of 1.30, a current ratio of 2.89 and a debt-to-equity ratio of 1.91.

ATI (NYSE:ATIGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The basic materials company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.17. ATI had a net margin of 0.36% and a return on equity of 21.63%. The firm had revenue of $959.50 million for the quarter, compared to analysts’ expectations of $837.33 million. During the same period in the prior year, the business posted ($0.12) earnings per share. The business’s revenue for the quarter was up 55.7% on a year-over-year basis. As a group, equities analysts expect that ATI will post 2.02 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ATI. KeyCorp increased their target price on shares of ATI from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, August 5th. Wolfe Research upgraded ATI from a “peer perform” rating to an “outperform” rating and set a $33.00 price objective for the company in a research note on Friday, August 5th. Finally, Benchmark increased their price objective on ATI to $37.00 in a research report on Tuesday, August 9th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.14.

Insiders Place Their Bets

In other ATI news, Director James C. Diggs sold 12,500 shares of ATI stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $24.00, for a total transaction of $300,000.00. Following the sale, the director now owns 46,060 shares in the company, valued at $1,105,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Karl D. Schwartz sold 2,000 shares of the company’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $25.00, for a total transaction of $50,000.00. Following the transaction, the chief accounting officer now owns 64,833 shares of the company’s stock, valued at approximately $1,620,825. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James C. Diggs sold 12,500 shares of the firm’s stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $24.00, for a total transaction of $300,000.00. Following the sale, the director now owns 46,060 shares in the company, valued at approximately $1,105,440. The disclosure for this sale can be found here. Insiders sold a total of 15,500 shares of company stock worth $381,220 over the last ninety days. 0.82% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Maryland State Retirement & Pension System grew its stake in ATI by 1.3% in the first quarter. Maryland State Retirement & Pension System now owns 51,027 shares of the basic materials company’s stock valued at $1,370,000 after purchasing an additional 647 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in ATI by 5.5% during the first quarter. Mutual of America Capital Management LLC now owns 18,336 shares of the basic materials company’s stock worth $492,000 after acquiring an additional 951 shares during the last quarter. Profund Advisors LLC raised its position in ATI by 10.7% during the first quarter. Profund Advisors LLC now owns 14,505 shares of the basic materials company’s stock valued at $389,000 after purchasing an additional 1,407 shares in the last quarter. FNY Investment Advisers LLC grew its stake in shares of ATI by 1,460.0% in the first quarter. FNY Investment Advisers LLC now owns 1,560 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 1,460 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in ATI by 1.4% during the first quarter. Great West Life Assurance Co. Can now owns 110,936 shares of the basic materials company’s stock valued at $3,056,000 after acquiring an additional 1,480 shares during the last quarter.

ATI Company Profile

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ATI Inc manufactures and sells specialty materials and components worldwide. The company operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.

Further Reading

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