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

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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 $0.38 (1.4%) to $27.36 on light volume. Throughout the day, 1,095,995 shares of Allegheny Technologies exchanged hands as compared to its average daily volume of 1,722,800 shares. The stock ranged in a price between $27.03-$27.49 after having opened the day at $27.08 as compared to the previous trading day's close of $26.98. Other companies within the Industrial Goods sector that increased today were: GreenHunter Resources ( GRH), up 22.3%, IntriCon Corporation ( IIN), up 10.8%, MagneGas Corporation ( MNGA), up 10.8% and JinkoSolar ( JKS), up 10.6%.

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 $2.9 billion and is part of the industrial industry. Shares are down 11.1% 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 negative front, Tower International ( TOWR), down 13.7%, India Globalization Capital ( IGC), down 12.9%, China Valves Technology ( CVVT), down 12.4% and Tri-Tech ( TRIT), down 5.8% , were all laggards within the industrial goods sector with PulteGroup ( PHM) 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).

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.
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