ATI stock saw an improvement in its IBD SmartSelect Composite Rating Friday, from 80 to 97.
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The upgrade means the stock currently tops 97% of all other stocks in terms of key performance metrics and technical strength. The top-performing stocks tend to have a 95 or better grade as they start a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch.
Is ATI Stock A Buy?
ATI stock is currently forming a consolidation, with a 68.92 buy point. See if the steel stock can break out in volume at least 40% above average. Given the current market uncertainties, IBD recommends a cautious market exposure of 20-40%.
The steel stock has a 97 EPS Rating, meaning its recent quarterly and longer-term annual earnings growth tops 97% of all stocks.
Its Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.
Earnings Growth Firms Up
In Q1, the company posted 50% earnings-per-share growth. It has now posted accelerating EPS growth for four consecutive quarters. Sales were flat, matching the prior report's 10%.
ATI stock earns the No. 2 rank among its peers in the Steel-Specialty Alloys industry group. Carpenter Technology is the No. 1-ranked stock within the group.
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