Deutsche Bank Upgrades Allegheny Technologies Incorporated to Buy

Brokerage firm Deutsche Bank Upgrades its rating on Allegheny Technologies Incorporated(NYSE:ATI). The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by Deutsche Bank was issued on Aug 29, 2016.

Allegheny Technologies Incorporated (ATI) shares turned negative on Thursdays trading session with the shares closing down -0.16 points or -0.94% at a volume of 29,73,068. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $17.1399. The peak price level was also seen at $17.1399 while the days lowest was $16.61. Finally the shares closed at $16.9. The 52-week high of the shares is $19.1 while the 52-week low is $7.08. According to the latest information available, the market cap of the company is $1,841 M.

Allegheny Technologies Incorporated(ATI) last announced its earnings results on Jul 26, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $810.50M. Analysts had an estimated revenue of $792.11M. Earnings per share were $-0.21. Analysts had estimated an EPS of $-0.37.

Several Insider Transactions has been reported to the SEC. On Dec 18, 2015, Elizabeth C Powers (Senior VP, CHRO) purchased 5,000 shares at $10.43 per share price.Also, On Oct 29, 2015, Elliot S Davis (Sr VP, GC, CCO and Secretary) purchased 2,000 shares at $14.36 per share price.On Oct 29, 2015, Richard J Harshman (CEO) purchased 17,500 shares at $14.55 per share price, according to the Form-4 filing with the securities and exchange commission.

Allegheny Technologies Incorporated is a specialty materials and components producer. The Company’s standard products include specialty stainless sheet stainless steel sheet and stainless steel plate. It operates through two business segments: High Performance Materials & Components and Flat Rolled Products. It’s High Performance Materials & Components segment produces converts and distributes high performance materials including titanium and titanium-based alloys nickel- and cobalt-based alloys and superalloys zirconium and related alloys. It’s Flat Rolled Products segment produces converts and distributes stainless steel nickel-based alloys specialty alloys and titanium and titanium-based alloys.

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