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

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 lower today making it today's featured Industrial Goods laggard. The sector as a whole was unchanged today. By the end of trading, Allegheny Technologies fell 45 cents (-1.5%) to $29.84 on average volume. Throughout the day, 1.8 million shares of Allegheny Technologies exchanged hands as compared to its average daily volume of 1.8 million shares. The stock ranged in price between $29.25-$30.12 after having opened the day at $30.02 as compared to the previous trading day's close of $30.29. Other companies within the Industrial Goods sector that declined today were: Xinyuan Real Estate ( XIN), down 14.6%, JinkoSolar ( JKS), down 13%, Argan ( AGX), down 9.1%, and Frontline ( FRO), down 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 $3.27 billion and is part of the industrial industry. The company has a P/E ratio of 21.3, above the S&P 500 P/E ratio of 17.7. Shares are up 0.4% year to date as of the close of trading on Friday. 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. Among the primary strengths of the company is its solid financial position based on a variety of debt and liquidity measures that we have evaluated. At the same time, however, we also find weaknesses including deteriorating net income, poor profit margins and weak operating cash flow.

On the positive front, Broadwind Energy ( BWEN), up 10.5%, Dixie Group ( DXYN), up 9.2%, Stratasys ( SSYS), up 7.1%, and Veolia Environnement ( VE), up 6.9%, were all gainers within the industrial goods sector with Mohawk Industries ( MHK) being today's featured industrial goods sector leader.

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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