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

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 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 $2.12 (-5.8%) to $34.18 on heavy volume. Throughout the day, 3,310,495 shares of Allegheny Technologies exchanged hands as compared to its average daily volume of 1,097,800 shares. The stock ranged in price between $34.12-$35.80 after having opened the day at $35.79 as compared to the previous trading day's close of $36.30. Other companies within the Industrial Goods sector that declined today were: China BAK Battery ( CBAK), down 15.8%, ZBB Energy Corporation ( ZBB), down 9.6%, China Advanced Construction Materials Group ( CADC), down 8.9% and Continental Materials Corporation ( CUO), down 8.0%.

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 $3.9 billion and is part of the industrial industry. The company has a P/E ratio of 453.8, 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 Friday. Currently there are 3 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. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity.

On the positive front, China Ming Yang Wind Power Group ( MY), up 9.6%, Guanwei Recycling ( GPRC), up 8.3%, Bonso Electronics International ( BNSO), up 8.2% and Frontline ( FRO), up 8.1% , were all gainers within the industrial goods sector with Stratasys ( SSYS) 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).

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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