Allegheny Technologies Inc
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Materials : Metals & Mining | Small Cap Blend
Company profile

Allegheny Technologies Incorporated is a manufacturer of specialty materials and complex components. The Company operates through two business segments: High Performance Materials & Components (HPMC), and Flat Rolled Products (FRP). The HPMC segment produces, converts and distributes a range of materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, zirconium and related alloys, including hafnium and niobium, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, plus precision forgings, components and machined parts. The FRP segment produces, converts and distributes stainless steel, nickel-based alloys, specialty alloys, and titanium and titanium-based alloys, in a range of product forms, including plate, sheet, engineered strip, and Precision Rolled Strip products.

Price
Delayed
$9.41
Day's Change
0.40 (4.44%)
Bid
--
Ask
--
B/A Size
--
Day's High
9.50
Day's Low
8.83
Volume
(Average)

Today's volume of 1,000,344 shares is on pace to be in-line with ATI's 10-day average volume of 1,518,409 shares.

1,000,344

UPDATE: Tesla's stock bounces, as long-time bearish analyst at J.P. Morgan lifts price target

7:47 am ET October 5, 2020 (MarketWatch)
Print

Shares of Tesla Inc. (TSLA) rose 1.9% in premarket trading Monday, after dropping 7.4% in the previous session, as a long-time bearish analyst lifted his price target in the wake of the electric vehicle company's third-quarter deliveries (http://www.marketwatch.com/story/tesla-stock-falls-after-third-quarter-deliveries-keep-demand-concerns-alive-2020-10-02) announcement. Analyst Ryan Brinkman at J.P. Morgan, who has had an underweight rating on Tesla's stock for at least the past three years, raised his price target to $75, which is 82% below Friday's closing price of $415.09, from $65. He also raised his 2020 adjusted earnings per share estimate to $1.95 from $1.80, and his 2021 estimate to $2.50 from $1.85, to account for third-quarter deliveries data that exceeded his expectations. The FactSet EPS consensus is $1.81 for 2020 and $2.92 for 2021. "We remain underweight-rated on [Tesla] shares, on what we see as lofty valuation coupled with high investor expectations and high execution risk," Brinkman wrote in a note to clients. Of the 37 analysts surveyed by FactSet, Brinkman is one of 11 who are bearish on Tesla's stock. There are two analysts with lower price targets, AlgoSun Global's Andrei Zakharov at $60 and GLJ Research's Gordon Johnson at $19. The average target of the analysts surveyed by FactSet is $333.13, or 19.7% below Friday's closing price. The stock has rocketed 396.1% year to date through Friday, while the S&P 500 has edged up 3.6%.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

October 05, 2020 07:47 ET (11:47 GMT)

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