Allegheny Technologies Inc (ATI): Today's Featured Industrial Goods Loser
Allegheny Technologies (ATI) pushed the Industrial Goods sector lower today making it today's featured Industrial Goods loser. The sector as a whole closed the day up 0.4%. By the end of trading, Allegheny Technologies fell 24 cents (-0.6%) to $41.10 on light volume. Throughout the day, 669,043 shares of Allegheny Technologies exchanged hands as compared to its average daily volume of 1.6 million shares. The stock ranged in price between $40.58-$41.60 after having opened the day at $41.15 as compared to the previous trading day's close of $41.34. Other company's within the Industrial Goods sector that declined today were: Tutor Perini (TPC), down 14.5%, Wuhan General Group (WUHN), down 9.9%, NF Energy Saving (NFEC), down 9.8%, and Wowjoint Holdings (BWOW), down 6.7%. Allegheny Technologies Incorporated engages in the production of specialty metals worldwide. It operates in three segments: High Performance Metals, Flat-Rolled Products, and Engineered Products. Allegheny Technologies has a market cap of $4.53 billion and is part of the industrial industry. The company has a P/E ratio of 22.3, above the average industrial industry P/E ratio of 21.8 and above the S&P 500 P/E ratio of 17.7. Shares are down 13.5% year to date as of the close of trading on Friday. Currently there are eight analysts that rate Allegheny Technologies a buy, no analysts rate it a sell, and one rates it a hold. TheStreet Ratings rates Allegheny Technologies as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and poor profit margins.
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