Allegheny Technologies Inc (ATI): Today's Featured Industrial 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 industry lower today making it today's featured Industrial laggard. The industry as a whole closed the day up 0.5%. By the end of trading, Allegheny Technologies fell $0.37 (-1.3%) to $27.20 on light volume. Throughout the day, 1,053,323 shares of Allegheny Technologies exchanged hands as compared to its average daily volume of 1,713,100 shares. The stock ranged in price between $27.10-$27.66 after having opened the day at $27.63 as compared to the previous trading day's close of $27.57. Other companies within the Industrial industry that declined today were: Tower International ( TOWR), down 11.3%, Exide Technologies ( XIDE), down 9.8%, THT Heat Transfer Technology ( THTI), down 8.8% and Material Sciences Corporation ( MASC), down 5.1%.
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Allegheny Technologies Incorporated engages in the production and sale 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 $2.8 billion and is part of the industrial goods sector. The company has a P/E ratio of 25.7, above the S&P 500 P/E ratio of 17.7. Shares are down 9.2% year to date as of the close of trading on Friday. Currently there are 5 analysts that rate Allegheny Technologies a buy, 1 analyst rates it a sell, and 3 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 a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and deteriorating net income.

On the positive front, Continental Materials Corporation ( CUO), down 10.7%, Ecotality ( ECTY), down 9.3%, IntriCon Corporation ( IIN), down 8.6% and Intellicheck Mobilisa ( IDN), down 8.5% , were all gainers within the industrial industry with 3D Systems Corporation ( DDD) being today's featured industrial industry leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the industrial industry could consider SPDR Dow Jones Industrial Average ( DIA) while those bearish on the industrial industry could consider ProShares UltraShort Industrials ( SIJ).

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