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 closed the day up 0.2%. By the end of trading, Allegheny Technologies fell $0.31 (-1.1%) to $29.17 on average volume. Throughout the day, 1,604,452 shares of Allegheny Technologies exchanged hands as compared to its average daily volume of 1,657,900 shares. The stock ranged in price between $28.63-$29.44 after having opened the day at $28.85 as compared to the previous trading day's close of $29.48. Other companies within the Industrial Goods sector that declined today were: Cleantech Solutions International ( CLNT), down 14.8%, Real Goods Solar ( RSOL), down 10.7%, MagneGas Corporation ( MNGA), down 8.9% and Continental Materials Corporation ( CUO), down 6.9%.
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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 $3.3 billion and is part of the industrial industry. The company has a P/E ratio of 30.3, above the S&P 500 P/E ratio of 17.7. Shares are up 1.9% year to date as of the close of trading on Wednesday. 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, Highway Holdings ( HIHO), down 31.6%, Hydrogenics Corporation ( HYGS), down 11.7%, China Ming Yang Wind Power Group ( MY), down 11.1% and China BAK Battery ( CBAK), down 9.6% , were all gainers within the industrial goods sector with Masco Corporation ( MAS) 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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