CHICAGO, June 17, 2014 /PRNewswire/ --Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog includethe Allegheny Technologies(NYSE:ATI-Free Report), Carpenter Technology(NYSE:CRS-Free Report), Precision Castparts(NYSE:PCP-Free Report) and CITIC Pacific Ltd.(OTC:CTPCY-Free Report).
Today, Zacks is promoting its 'Buy' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Monday's Analyst Blog:
Allegheny Technologies Buys Hanard Machine to Boost Capacity
In a move to boost its capabilities to make specialty materials parts and components, Allegheny Technologies(NYSE:ATI-Free Report) has bought precision machining company - Hanard Machine, Inc. - for an undisclosed price.
Salem, OR-based Hanard performs precision machining on parts and components that are produced from titanium alloys, nickel-based alloys and superalloys, aluminum, specialty steel and other ferrous and non-ferrous metals. Its key markets are aerospace and defense, and oil and gas/chemical process industry.
Following the takeover, Hanard will be a part of Allegheny's titanium investment casting business based in Albany, OR, and will operate as ATI Cast Products, Salem Operations.
The buyout strengthens Allegheny's aerospace supply chain role and better places it to attain its target to at least double the revenues of ATI Cast Products within the next 5 years.
With this takeover, the company is now integrated in the manufacture of titanium investment castings from titanium sponge to precision machined finished parts. Allegheny sees significant growth potential for its integrated titanium investment castings business.
Allegheny's shares were up as much as 3.4% in the trading session last Friday. The stock eventually closed at $41.58 on that day, gaining 2.9%.
Allegheny, which is among the prominent players in the U.S. specialty steel industry along withCarpenter Technology(NYSE:CRS-Free Report) andPrecision Castparts(NYSE:PCP-Free Report), is seeing healthy demand from aerospace OEMs, driven by production ramp ups. It should gain from its diversified global growth markets and differentiated product mix.
Allegheny expects business conditions to gradually improve through 2014. The company sees sustainable improvement and demand growth from most of its end markets.Alleghenyexpects continued increase in aerospace build rates.
Allegheny aims on maximizing value creation from investments in new products, strategic capital projects and strategic acquisitions over the next 3 to 5 years. The company is negotiating a number of new long-term agreements and extending its existing agreements with strategic customers that are expected to continue to enhance its competitive market position.
Allegheny currently retains a Zacks Rank #3 (Hold).
Another specialty steel companyCITIC Pacific Ltd.(OTC:CTPCY-Free Report) holds a Zacks Rank #2 (Buy).
Today, Zacks is promoting its 'Buy' stock recommendations. Get #1Stock of the Day pick for free.
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