Revenue Update on Allegheny Technologies Incorporated(NYSE:ATI)

Allegheny Technologies Incorporated(NYSE:ATI) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 26, 2016. Company reported revenue of $810.50M. Analysts estimated a revenue of $792.11M. Earnings per share were $-0.21. Analysts had estimated an EPS of $-0.37.

In a different note, On May 23, 2016, Bank of America said it Upgrades its rating on Allegheny Technologies Incorporated. The shares have been rated ‘Buy’ by the firm.

Allegheny Technologies Incorporated (ATI) shares turned negative on Fridays trading session with the shares closing down -0.09 points or -0.50% at a volume of 19,25,258. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $18.07. The peak price level was also seen at $18.07 while the days lowest was $17.53. Finally the shares closed at $17.81. The 52-week high of the shares is $22.74 while the 52-week low is $7.08. According to the latest information available, the market cap of the company is $1,940 M.

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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