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Tale of the Tape

Allegheny Technologies Inc. saw a big move last session, as the company’s shares fell by over 6% for the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for ATI, as the stock is now down 6.1% in the past one month time frame.

Although this slump was obviously disappointing, the company’s current year loss estimate has narrowed over the past few weeks, though no estimates were revised in either direction. This suggests that the recent slump might be a temporary blip on the radar for ATI. So make sure to keep an eye on this stock going forward to see if yesterday’s price decline is confirmed by more weakness, or if it can rebound in the weeks ahead.

ATI currently has a Zacks Rank #4 (Sell) while its Earnings ESP is negative.

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