Brokerages forecast that Allegheny Technologies Incorporated (NYSE:ATI) will post sales of $1.00 billion for the current quarter, Zacks reports. Four analysts have provided estimates for Allegheny Technologies’ earnings. The highest sales estimate is $1.04 billion and the lowest is $979.60 million. Allegheny Technologies posted sales of $869.10 million in the same quarter last year, which suggests a positive year-over-year growth rate of 15.1%. The firm is scheduled to issue its next earnings report before the market opens on Tuesday, October 23rd.

On average, analysts expect that Allegheny Technologies will report full-year sales of $4.02 billion for the current financial year, with estimates ranging from $3.97 billion to $4.10 billion. For the next fiscal year, analysts anticipate that the company will post sales of $4.28 billion, with estimates ranging from $4.18 billion to $4.57 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Allegheny Technologies.

Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings results on Tuesday, July 24th. The basic materials company reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.16. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Allegheny Technologies had a net margin of 0.30% and a return on equity of 7.84%. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 earnings per share.

Several equities analysts have commented on the stock. Buckingham Research boosted their price target on shares of Allegheny Technologies from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, August 8th. Bank of America set a $34.00 price objective on shares of Allegheny Technologies and gave the company a “buy” rating in a research report on Wednesday, July 25th. KeyCorp boosted their price objective on shares of Allegheny Technologies from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, July 26th. Zacks Investment Research downgraded shares of Allegheny Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, September 12th. Finally, Cowen reaffirmed a “buy” rating and set a $35.00 price objective on shares of Allegheny Technologies in a research report on Tuesday, June 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $30.60.

Shares of NYSE:ATI traded up $0.10 during trading on Wednesday, hitting $27.09. The company’s stock had a trading volume of 1,388,735 shares, compared to its average volume of 1,736,728. The company has a market cap of $3.71 billion, a price-to-earnings ratio of 56.44 and a beta of 2.46. The company has a quick ratio of 1.18, a current ratio of 2.87 and a debt-to-equity ratio of 0.75. Allegheny Technologies has a fifty-two week low of $21.01 and a fifty-two week high of $30.25.

In other Allegheny Technologies news, VP Karl D. Schwartz sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $26.79, for a total value of $26,790.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James C. Diggs sold 3,844 shares of the business’s stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $29.15, for a total transaction of $112,052.60. Following the completion of the sale, the director now directly owns 36,146 shares of the company’s stock, valued at $1,053,655.90. The disclosure for this sale can be found here. Insiders have sold 6,844 shares of company stock worth $191,393 over the last ninety days. 1.00% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Bain Capital Public Equity Management LLC raised its stake in Allegheny Technologies by 29.0% in the second quarter. Bain Capital Public Equity Management LLC now owns 419,836 shares of the basic materials company’s stock valued at $10,546,000 after purchasing an additional 94,376 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Allegheny Technologies in the 2nd quarter valued at $238,000. Global X Management Co LLC grew its stake in Allegheny Technologies by 18.1% in the 2nd quarter. Global X Management Co LLC now owns 30,645 shares of the basic materials company’s stock valued at $770,000 after purchasing an additional 4,689 shares during the period. MAI Capital Management bought a new position in shares of Allegheny Technologies during the 2nd quarter worth $207,000. Finally, Advisors Asset Management Inc. grew its stake in shares of Allegheny Technologies by 254.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 55,252 shares of the basic materials company’s stock worth $327,000 after acquiring an additional 39,680 shares during the period.

Allegheny Technologies Company Profile

Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates through two segments, High Performance Materials & Components, and Flat-Rolled Products. The High Performance Materials & Components segment produces, converts, and distributes a range of high performance materials, including titanium and titanium-based alloys; nickel-and cobalt-based alloys and superalloys; zirconium and related alloys, such as hafnium and niobium; powder alloys; and other specialty materials in long product forms of ingots, billets, bars, rods, wires, and shapes and rectangles, as well as seamless tubes, plus precision forgings, castings, components, and machined parts.

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Earnings History and Estimates for Allegheny Technologies (NYSE:ATI)

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