In the latest market close, Allegheny Technologies (ATI) reached $57.09, with a -1.21% movement compared to the previous day. The stock's performance was behind the S&P 500's daily loss of 0.51%. Elsewhere, the Dow lost 0.75%, while the tech-heavy Nasdaq lost 0.28%.

Coming into today, shares of the maker of steel and specialty metals had gained 5.02% in the past month. In that same time, the Basic Materials sector gained 4.34%, while the S&P 500 gained 2.87%.

The investment community will be paying close attention to the earnings performance of Allegheny Technologies in its upcoming release. The company is slated to reveal its earnings on February 4, 2025. The company is expected to report EPS of $0.60, down 6.25% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $1.08 billion, indicating a 1.83% upward movement from the same quarter last year.

It is also important to note the recent changes to analyst estimates for Allegheny Technologies. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.23% downward. At present, Allegheny Technologies boasts a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Allegheny Technologies has a Forward P/E ratio of 20.12 right now. This signifies a premium in comparison to the average Forward P/E of 14.54 for its industry.

One should further note that ATI currently holds a PEG ratio of 1.54. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Steel - Speciality industry stood at 0.97 at the close of the market yesterday.

The Steel - Speciality industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 26, this industry ranks in the top 11% of all industries, numbering over 250.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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