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Allegheny Technologies has an analyst consensus of Strong Buy, with a price target consensus of $34.00, implying a 51.7% upside from current levels. In a report issued on June 10, KeyBanc also maintained a Buy rating on the stock with a $34.00 price target.
Based on Allegheny Technologies’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $834 million and net profit of $30.9 million. In comparison, last year the company earned revenue of $693 million and had a GAAP net loss of $7.9 million.
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Allegheny Technologies, Inc. engages in the manufacture of specialty materials and components for different industries which include aerospace and defense, oil and gas, chemical process, and electrical energy. It operates through the High Performance Materials and Components (HPMC) and Flat Rolled Products (FRP) segments. The HPMC segment includes production, conversion, and distribution of materials, including products from differentiated alloys, super alloys, and metallic powders. The FRP segment involves in the production, conversion and distribution of nickel-based alloys, specialty alloys, titanium and titanium-based alloys, and stainless steel in a variety of product forms including plate, sheet, engineered strip, and precision rolled strip. The company was founded on August 15, 1996 and is headquartered in Pittsburgh, PA.
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