Atkore (NYSE:ATKR) Now Covered by Roth Mkm

Roth Mkm started coverage on shares of Atkore (NYSE:ATKR) in a research report report published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $100.00 price objective on the stock.

A number of other analysts have also weighed in on the company. KeyCorp reduced their target price on Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. B. Riley downgraded shares of Atkore from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $135.00 to $84.00 in a research note on Friday, November 22nd. Loop Capital lowered their price objective on shares of Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $102.00 target price (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $115.67.

Atkore Price Performance

ATKR stock opened at $85.25 on Tuesday. The company has a current ratio of 2.98, a quick ratio of 1.96 and a debt-to-equity ratio of 0.50. Atkore has a 12 month low of $76.01 and a 12 month high of $194.98. The stock has a market cap of $2.98 billion, a PE ratio of 6.75 and a beta of 2.10. The company has a 50-day moving average price of $89.63 and a 200 day moving average price of $105.07.

Atkore (NYSE:ATKR) last announced its earnings results on Thursday, November 21st. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.06). Atkore had a net margin of 14.77% and a return on equity of 32.14%. The business had revenue of $788.30 million for the quarter, compared to analysts’ expectations of $749.49 million. During the same quarter last year, the firm earned $3.63 EPS. The firm’s quarterly revenue was down 9.4% on a year-over-year basis. Equities research analysts anticipate that Atkore will post 6.69 earnings per share for the current year.

Atkore Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, December 6th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Friday, December 6th. Atkore’s payout ratio is 10.13%.

Insider Buying and Selling at Atkore

In other Atkore news, VP Daniel S. Kelly sold 13,071 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total transaction of $1,251,417.54. Following the sale, the vice president now owns 27,528 shares of the company’s stock, valued at approximately $2,635,530.72. This trade represents a 32.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $96.55, for a total value of $48,275.00. Following the completion of the transaction, the insider now directly owns 27,626 shares of the company’s stock, valued at approximately $2,667,290.30. The trade was a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,924 shares of company stock valued at $1,614,975. Company insiders own 2.56% of the company’s stock.

Hedge Funds Weigh In On Atkore

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its position in shares of Atkore by 445.6% during the third quarter. Signaturefd LLC now owns 491 shares of the company’s stock valued at $42,000 after buying an additional 401 shares during the last quarter. Quarry LP lifted its position in Atkore by 48.8% during the third quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after acquiring an additional 208 shares during the last quarter. Covestor Ltd boosted its stake in Atkore by 63.7% in the third quarter. Covestor Ltd now owns 1,002 shares of the company’s stock valued at $85,000 after acquiring an additional 390 shares in the last quarter. Headlands Technologies LLC grew its holdings in Atkore by 829.9% in the second quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock worth $122,000 after purchasing an additional 805 shares during the last quarter. Finally, Pinnacle Associates Ltd. acquired a new position in shares of Atkore during the third quarter worth $126,000.

Atkore Company Profile

Atkore Inc engages in the manufacture and sale of electrical, mechanical, safety, and infrastructure products and solutions in the United States and internationally. The company offers conduits, cables, and installation accessories. It also designs and manufactures protection and reliability solutions for critical infrastructure, such as metal framing, mechanical pipe, perimeter security, and cable management.