Allegheny Technologies Incorporated Stock Beta
| ATI Stock | USD 50.56 0.54 1.06% |
Allegheny Technologies Incorporated fundamentals help investors to digest information that contributes to Allegheny Technologies' financial success or failures. It also enables traders to predict the movement of Allegheny Stock. The fundamental analysis module provides a way to measure Allegheny Technologies' intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Allegheny Technologies stock.
Allegheny | Beta |
Allegheny Technologies Incorporated Company Beta Analysis
Allegheny Technologies' Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of an equity instrument to the financial market in which this instrument is traded. For example, if Beta of equity is 2, it is expected to significantly outperform market when the market is going up and significantly underperform when the market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns over time.
Current Allegheny Technologies Beta | 1.23 |
Most of Allegheny Technologies' fundamental indicators, such as Beta, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Allegheny Technologies Incorporated is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
Allegheny Beta Driver Correlations
Understanding the fundamental principles of building solid financial models for Allegheny Technologies is extremely important. It helps to project a fair market value of Allegheny Stock properly, considering its historical fundamentals such as Beta. Since Allegheny Technologies' main accounts across its financial reports are all linked and dependent on each other, it is essential to analyze all possible correlations between related accounts. However, instead of reviewing all of Allegheny Technologies' historical financial statements, investors can examine the correlated drivers to determine its overall health. This can be effectively done using a conventional correlation matrix of Allegheny Technologies' interrelated accounts and indicators.
Click cells to compare fundamentals
In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.
| Competition |
In accordance with the recently published financial statements, Allegheny Technologies Incorporated has a Beta of 1.231. This is 10.15% lower than that of the Metals & Mining sector and 18.48% lower than that of the Materials industry. The beta for all United States stocks is notably lower than that of the firm.
Allegheny Beta Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Allegheny Technologies' direct or indirect competition against its Beta to detect undervalued stocks with similar characteristics or determine the stocks which would be a good addition to a portfolio. Peer analysis of Allegheny Technologies could also be used in its relative valuation, which is a method of valuing Allegheny Technologies by comparing valuation metrics of similar companies.Allegheny Technologies is currently under evaluation in beta category among related companies.
Allegheny Technologies Institutional Holders
Institutional Holdings refers to the ownership stake in Allegheny Technologies that is held by large financial organizations, pension funds or endowments. Institutions may purchase large blocks of Allegheny Technologies' outstanding shares and can exert considerable influence upon its management. Institutional holders may also work to push the share price higher once they own the stock. Extensive social media coverage, TV shows, articles in high-profile magazines, and presentations at investor conferences help move the stock higher, increasing Allegheny Technologies' value.| Shares | Dimensional Fund Advisors, Inc. | 2023-12-31 | 2.3 M | Palestra Capital Management Llc | 2023-09-30 | 2.2 M | Morgan Stanley - Brokerage Accounts | 2023-12-31 | 2.1 M | Capital World Investors | 2023-12-31 | 2 M | Loomis, Sayles & Company Lp | 2023-12-31 | 1.6 M | Charles Schwab Investment Management Inc | 2023-12-31 | 1.6 M | Driehaus Capital Management Llc | 2023-12-31 | 1.5 M | Channing Capital Management, Llc | 2023-12-31 | 1.5 M | Allspring Global Investments Holdings, Llc | 2023-12-31 | 1.5 M | Blackrock Inc | 2023-12-31 | 20.2 M | Capital Research & Mgmt Co - Division 3 | 2023-12-31 | 15.2 M |
As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Allegheny Technologies will likely underperform.
Allegheny Fundamentals
| Return On Equity | 0.32 | ||||
| Return On Asset | 0.0537 | ||||
| Profit Margin | 0.1 % | ||||
| Operating Margin | 0.09 % | ||||
| Current Valuation | 8.14 B | ||||
| Shares Outstanding | 124.44 M | ||||
| Shares Owned By Insiders | 1.10 % | ||||
| Shares Owned By Institutions | 98.90 % | ||||
| Number Of Shares Shorted | 6.38 M | ||||
| Price To Earning | 153.89 X | ||||
| Price To Book | 4.68 X | ||||
| Price To Sales | 1.54 X | ||||
| Revenue | 7.54 B | ||||
| Gross Profit | 714.2 M | ||||
| EBITDA | 466.4 M | ||||
| Net Income | 410.8 M | ||||
| Cash And Equivalents | 584 M | ||||
| Cash Per Share | 2.55 X | ||||
| Total Debt | 2.18 B | ||||
| Debt To Equity | 1.84 % | ||||
| Current Ratio | 2.88 X | ||||
| Book Value Per Share | 10.82 X | ||||
| Cash Flow From Operations | 85.9 M | ||||
| Short Ratio | 5.02 X | ||||
| Earnings Per Share | 2.81 X | ||||
| Price To Earnings To Growth | 1.20 X | ||||
| Target Price | 56.89 | ||||
| Number Of Employees | 7.3 K | ||||
| Beta | 1.23 | ||||
| Market Capitalization | 6.36 B | ||||
| Total Asset | 4.99 B | ||||
| Retained Earnings | (70.1 M) | ||||
| Working Capital | 1.76 B | ||||
| Current Asset | 1.87 B | ||||
| Current Liabilities | 686.5 M | ||||
| Five Year Return | 2.44 % | ||||
| Net Asset | 4.99 B |
About Allegheny Technologies Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Allegheny Technologies Incorporated's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Allegheny Technologies using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Allegheny Technologies Incorporated based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Pair Trading with Allegheny Technologies
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Allegheny Technologies position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Allegheny Technologies will appreciate offsetting losses from the drop in the long position's value.Moving together with Allegheny Stock
| 0.91 | ESAB | ESAB Corp Financial Report 7th of May 2024 | PairCorr |
| 0.74 | CRS | Carpenter Technology Report 25th of April 2024 | PairCorr |
Moving against Allegheny Stock
| 0.85 | SGBX | SG Blocks | PairCorr |
| 0.76 | BA | Boeing Earnings Call This Week | PairCorr |
| 0.69 | AZ | A2Z Smart Technologies | PairCorr |
| 0.53 | PRLB | Proto Labs Financial Report 3rd of May 2024 | PairCorr |
| 0.5 | AP | Ampco Pittsburgh | PairCorr |
The ability to find closely correlated positions to Allegheny Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Allegheny Technologies when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Allegheny Technologies - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Allegheny Technologies Incorporated to buy it.
The correlation of Allegheny Technologies is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Allegheny Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Allegheny Technologies moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Allegheny Technologies can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Allegheny Technologies Piotroski F Score and Allegheny Technologies Altman Z Score analysis. You can also try the Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
Complementary Tools for Allegheny Stock analysis
When running Allegheny Technologies' price analysis, check to measure Allegheny Technologies' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Allegheny Technologies is operating at the current time. Most of Allegheny Technologies' value examination focuses on studying past and present price action to predict the probability of Allegheny Technologies' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Allegheny Technologies' price. Additionally, you may evaluate how the addition of Allegheny Technologies to your portfolios can decrease your overall portfolio volatility.
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Is Allegheny Technologies' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Allegheny Technologies. If investors know Allegheny will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Allegheny Technologies listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.32) | Earnings Share 2.81 | Revenue Per Share 32.582 | Quarterly Revenue Growth 0.053 | Return On Assets 0.0537 |
The market value of Allegheny Technologies is measured differently than its book value, which is the value of Allegheny that is recorded on the company's balance sheet. Investors also form their own opinion of Allegheny Technologies' value that differs from its market value or its book value, called intrinsic value, which is Allegheny Technologies' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Allegheny Technologies' market value can be influenced by many factors that don't directly affect Allegheny Technologies' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Allegheny Technologies' value and its price as these two are different measures arrived at by different means. Investors typically determine if Allegheny Technologies is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Allegheny Technologies' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.