Allegheny Technologies Inc (ATI): Today's Featured Industrial Goods Winner

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

Allegheny Technologies ( ATI) pushed the Industrial Goods sector higher today making it today's featured industrial goods winner. The sector as a whole closed the day up 0.3%. By the end of trading, Allegheny Technologies rose 45 cents (1.4%) to $31.61 on average volume. Throughout the day, 2.3 million shares of Allegheny Technologies exchanged hands as compared to its average daily volume of 1.7 million shares. The stock ranged in a price between $31.09-$31.75 after having opened the day at $31.09 as compared to the previous trading day's close of $31.16. Other companies within the Industrial Goods sector that increased today were: Goldfield ( GV), up 7.3%, India Globalization Capital ( IGC), up 7.1%, China Ming Yang Wind Power Group ( MY), up 7%, and Broadwind Energy ( BWEN), up 6.7%.
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Allegheny Technologies Incorporated (ATI) 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 $3.22 billion and is part of the industrial industry. The company has a P/E ratio of 21.7, above the S&P 500 P/E ratio of 17.7. Shares are up 2.3% year to date as of the close of trading on Wednesday. Currently there are five analysts that rate Allegheny Technologies a buy, one analyst rates it a sell, and three rate it a hold.

TheStreet Ratings rates Allegheny Technologies as a hold. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, poor profit margins and weak operating cash flow.

On the negative front, Adept Technology ( ADEP), down 7.2%, M.D.C. Holdings ( MDC), down 5.8%, China Yuchai International ( CYD), down 5.2%, and Avalon Holdings ( AWX), down 4.9%, were all laggards within the industrial goods sector with Raytheon Company ( RTN) being today's industrial goods sector laggard.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the industrial goods sector could consider Industrial Select Sector SPDR ( XLI) while those bearish on the industrial goods sector could consider ProShares Short Dow 30 ( DOG).

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