Atkore Inc. (NYSE:ATKR) Given Average Rating of “Moderate Buy” by Brokerages

Atkore Inc. (NYSE:ATKR) has been given an average recommendation of “Moderate Buy” by the seven research firms that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $103.17.

A number of research firms have recently issued reports on ATKR. Roth Mkm began coverage on Atkore in a research report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target for the company. KeyCorp dropped their price target on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. B. Riley cut Atkore from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. Loop Capital lowered Atkore from a “buy” rating to a “hold” rating and decreased their target price for the stock from $115.00 to $65.00 in a research note on Monday, February 10th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 target price (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th.

Insider Transactions at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $65.00, for a total value of $32,500.00. Following the sale, the insider now directly owns 33,760 shares in the company, valued at $2,194,400. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeri L. Isbell sold 3,353 shares of Atkore stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $94.03, for a total value of $315,282.59. Following the sale, the director now directly owns 25,585 shares of the company’s stock, valued at $2,405,757.55. This trade represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,924 shares of company stock valued at $1,599,200. 1.99% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Atkore

Several hedge funds and other institutional investors have recently made changes to their positions in ATKR. Jones Financial Companies Lllp boosted its holdings in Atkore by 87.7% in the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock valued at $33,000 after purchasing an additional 186 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Atkore by 445.6% in the 3rd quarter. Signaturefd LLC now owns 491 shares of the company’s stock valued at $42,000 after buying an additional 401 shares in the last quarter. Quarry LP grew its position in shares of Atkore by 48.8% in the 3rd quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after buying an additional 208 shares during the last quarter. Pacer Advisors Inc. raised its stake in Atkore by 30.2% during the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock worth $70,000 after acquiring an additional 195 shares in the last quarter. Finally, Covestor Ltd raised its stake in Atkore by 63.7% during the 3rd quarter. Covestor Ltd now owns 1,002 shares of the company’s stock worth $85,000 after acquiring an additional 390 shares in the last quarter.

Atkore Stock Down 2.4 %

ATKR stock opened at $65.68 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03. Atkore has a one year low of $62.62 and a one year high of $194.98. The firm’s fifty day moving average is $79.37 and its 200 day moving average is $86.03. The firm has a market cap of $2.28 billion, a PE ratio of 6.36 and a beta of 2.12.

Atkore (NYSE:ATKR) last announced its earnings results on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.45. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The business had revenue of $661.60 million during the quarter, compared to analysts’ expectations of $680.77 million. During the same quarter in the prior year, the firm earned $4.12 earnings per share. The business’s revenue was down 17.1% compared to the same quarter last year. On average, research analysts forecast that Atkore will post 5.79 EPS for the current year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Tuesday, February 18th. Atkore’s dividend payout ratio is currently 12.39%.

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.