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Allegheny Technologies (ATI) Stock Moves -1.2%: What You Should Know

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Allegheny Technologies (ATI - Free Report) closed the most recent trading day at $23.11, moving -1.2% from the previous trading session. This move was narrower than the S&P 500's daily loss of 2.01%. Meanwhile, the Dow lost 1.56%, and the Nasdaq, a tech-heavy index, lost 0.1%.

Heading into today, shares of the maker of steel and specialty metals had lost 14.2% over the past month, outpacing the Basic Materials sector's loss of 15.03% and lagging the S&P 500's loss of 6.08% in that time.

Investors will be hoping for strength from Allegheny Technologies as it approaches its next earnings release. On that day, Allegheny Technologies is projected to report earnings of $0.37 per share, which would represent year-over-year growth of 408.33%. Our most recent consensus estimate is calling for quarterly revenue of $812 million, up 31.78% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $1.53 per share and revenue of $3.38 billion, which would represent changes of +1076.92% and +20.9%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for Allegheny Technologies. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.85% higher. Allegheny Technologies is currently a Zacks Rank #1 (Strong Buy).

Valuation is also important, so investors should note that Allegheny Technologies has a Forward P/E ratio of 15.32 right now. This valuation marks a premium compared to its industry's average Forward P/E of 12.02.

The Steel - Speciality industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 28, putting it in the top 12% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


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