Brokerages Set Atkore Inc. (NYSE:ATKR) Price Target at $103.17

Atkore Inc. (NYSE:ATKR) has received an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $103.17.

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

Atkore Trading Down 1.5 %

Atkore stock opened at $65.02 on Friday. Atkore has a 1 year low of $55.91 and a 1 year high of $194.98. The firm’s 50 day moving average price is $72.44 and its two-hundred day moving average price is $82.14. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 6.29 and a beta of 2.22. 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 (NYSE:ATKR) last issued its earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $680.77 million. During the same period in the previous year, the firm posted $4.12 EPS. The company’s quarterly revenue was down 17.1% on a year-over-year basis. On average, research analysts predict that Atkore will post 5.79 EPS for the current fiscal year.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Tuesday, February 18th. Atkore’s payout ratio is presently 12.39%.

Insider Buying and Selling at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $65.00, for a total value of $32,500.00. Following the transaction, the insider now owns 33,760 shares in the company, valued at $2,194,400. The trade was a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.99% of the company’s stock.

Institutional Investors Weigh In On Atkore

Hedge funds and other institutional investors have recently made changes to their positions in the company. E. Ohman J or Asset Management AB increased its holdings in Atkore by 55.2% in the fourth quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company’s stock worth $26,569,000 after buying an additional 113,263 shares during the last quarter. Wellington Management Group LLP bought a new stake in Atkore in the third quarter worth approximately $7,916,000. Y Intercept Hong Kong Ltd increased its stake in shares of Atkore by 729.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 27,831 shares of the company’s stock worth $2,358,000 after purchasing an additional 24,476 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Atkore by 10.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company’s stock valued at $111,467,000 after purchasing an additional 134,517 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of Atkore by 50.2% in the 3rd quarter. Barclays PLC now owns 70,736 shares of the company’s stock valued at $5,994,000 after purchasing an additional 23,628 shares during the last quarter.

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.