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Allegheny Technologies (ATI) Stock Moves -0.39%: What You Should Know

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In the latest trading session, Allegheny Technologies (ATI) closed at $25.55, marking a -0.39% move from the previous day. This change was narrower than the S&P 500's daily loss of 2.91%. Meanwhile, the Dow lost 2.73%, and the Nasdaq, a tech-heavy index, lost 0.25%.

Heading into today, shares of the maker of steel and specialty metals had lost 0.47% over the past month, lagging the Basic Materials sector's gain of 4.39% and the S&P 500's gain of 0.84% in that time.

Allegheny Technologies will be looking to display strength as it nears its next earnings release. On that day, Allegheny Technologies is projected to report earnings of $0.38 per share, which would represent year-over-year growth of 416.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $786.95 million, up 27.71% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $1.47 per share and revenue of $3.26 billion, which would represent changes of +1030.77% and +16.51%, 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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 8.25% 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 17.45 right now. Its industry sports an average Forward P/E of 13.49, so we one might conclude that Allegheny Technologies is trading at a premium comparatively.

The Steel - Speciality industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 33, putting it in the top 14% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow ATI in the coming trading sessions, be sure to utilize Zacks.com.


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