Analysts Set Atkore Inc. (NYSE:ATKR) Target Price at $79.57

Shares of Atkore Inc. (NYSE:ATKR) have been given an average rating of “Hold” by the seven brokerages that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $79.57.

Several brokerages have commented on ATKR. Roth Capital set a $78.00 price target on shares of Atkore and gave the company a “buy” rating in a report on Wednesday, May 7th. KeyCorp increased their price objective on Atkore from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Citigroup reissued a “neutral” rating and set a $80.00 price objective (up previously from $70.00) on shares of Atkore in a research note on Monday, June 9th. Royal Bank Of Canada upped their target price on Atkore from $65.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen upgraded Atkore from a “hold” rating to a “buy” rating in a research report on Monday, May 12th.

Insider Activity at Atkore

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $69.16, for a total transaction of $69,160.00. Following the transaction, the insider now directly owns 32,828 shares in the company, valued at $2,270,384.48. This trade represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.99% of the stock is owned by insiders.

Institutional Investors Weigh In On Atkore

A number of hedge funds have recently made changes to their positions in the business. Van Den Berg Management I Inc. grew its holdings in shares of Atkore by 0.4% in the fourth quarter. Van Den Berg Management I Inc. now owns 41,041 shares of the company’s stock worth $3,425,000 after purchasing an additional 158 shares during the last quarter. Isthmus Partners LLC raised its holdings in Atkore by 0.8% during the 4th quarter. Isthmus Partners LLC now owns 21,441 shares of the company’s stock valued at $1,789,000 after buying an additional 162 shares during the last quarter. Xponance Inc. boosted its position in Atkore by 6.9% during the 4th quarter. Xponance Inc. now owns 2,569 shares of the company’s stock valued at $214,000 after buying an additional 166 shares during the period. MetLife Investment Management LLC grew its holdings in Atkore by 0.8% in the 4th quarter. MetLife Investment Management LLC now owns 21,357 shares of the company’s stock worth $1,782,000 after acquiring an additional 171 shares during the last quarter. Finally, SummerHaven Investment Management LLC grew its holdings in Atkore by 3.0% in the 1st quarter. SummerHaven Investment Management LLC now owns 6,039 shares of the company’s stock worth $362,000 after acquiring an additional 177 shares during the last quarter.

Atkore Stock Up 1.2%

ATKR stock opened at $70.82 on Friday. The stock has a 50-day simple moving average of $66.29 and a two-hundred day simple moving average of $70.07. Atkore has a twelve month low of $49.92 and a twelve month high of $153.32. The firm has a market capitalization of $2.38 billion, a PE ratio of 13.62 and a beta of 2.06. The company has a quick ratio of 1.98, a current ratio of 3.02 and a debt-to-equity ratio of 0.54.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Tuesday, May 6th. The company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.52. The company had revenue of $701.73 million during the quarter, compared to analyst estimates of $690.83 million. Atkore had a net margin of 6.48% and a return on equity of 20.81%. Atkore’s revenue was down 11.5% compared to the same quarter last year. During the same period last year, the business earned $4.08 earnings per share. On average, equities analysts predict that Atkore will post 5.79 EPS for the current fiscal year.

Atkore Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Friday, May 16th were given a $0.33 dividend. The ex-dividend date was Friday, May 16th. This is a positive change from Atkore’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 1.86%. Atkore’s payout ratio is 25.38%.

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.