Commercial aerospace has seen more than its share of bad press, with the latest being a report of faulty titanium components making it into Airbus and Boeing planes. Given how ATI sources its titanium, I see little direct risk to the company, but can't rule out that this leads to further interruptions in 2024 production schedules. Despite ongoing production challenges in the aerospace sector, ATI has a long runway ahead for revenue growth and margin improvement as widebody production accelerates in 2025 and 2026.
ATI shares have enjoyed a strong surge in 2024 on the strength of two good earnings reports. One Wall Street analyst is moving the company to neutral from a buy after the run.
Here is how Allegheny Technologies (ATI) and Reliance (RS) have performed compared to their sector so far this year.
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
Allegheny Technologies (ATI) reported earnings 30 days ago. What's next for the stock?
Allegheny Technologies (ATI) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).
Allegheny Technologies (ATI) could be a great choice for investors looking to make a profit from fundamentally strong stocks that are currently on the move. It is one of the several stocks that made it through our "Recent Price Strength" screen.
Does Allegheny Technologies (ATI) have what it takes to be a top stock pick for momentum investors? Let's find out.