Brokerages Set Atkore Inc. (NYSE:ATKR) PT at $115.67

Shares of Atkore Inc. (NYSE:ATKR) have earned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $115.67.

ATKR has been the topic of a number of analyst reports. Loop Capital dropped their price target on Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 price target (up previously from $93.00) on shares of Atkore in a report on Wednesday, December 4th. KeyCorp decreased their price objective on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Roth Capital raised shares of Atkore to a “strong-buy” rating in a research note on Monday, December 16th. Finally, Roth Mkm started coverage on Atkore in a research report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 target price for the company.

Atkore Stock Down 2.4 %

ATKR stock opened at $81.43 on Friday. The firm has a market cap of $2.83 billion, a PE ratio of 6.45 and a beta of 2.10. Atkore has a 12 month low of $76.01 and a 12 month high of $194.98. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.98 and a quick ratio of 1.96. The firm has a 50 day simple moving average of $88.65 and a 200 day simple moving average of $100.68.

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

Atkore Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, December 6th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Friday, December 6th. Atkore’s dividend payout ratio (DPR) is presently 10.13%.

Insider Activity at Atkore

In related news, VP Daniel S. Kelly sold 13,071 shares of Atkore stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $95.74, for a total value of $1,251,417.54. Following the completion of the sale, the vice president now owns 27,528 shares of the company’s stock, valued at approximately $2,635,530.72. The trade was a 32.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark F. Lamps sold 500 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $96.55, for a total transaction of $48,275.00. Following the transaction, the insider now directly owns 27,626 shares in the company, valued at $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 sold 16,924 shares of company stock valued at $1,614,975. 1.99% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ATKR. Signaturefd LLC boosted its position in Atkore by 445.6% during the third quarter. Signaturefd LLC now owns 491 shares of the company’s stock worth $42,000 after purchasing an additional 401 shares during the period. Quarry LP lifted its stake in shares of Atkore by 48.8% in the third quarter. Quarry LP now owns 634 shares of the company’s stock worth $54,000 after buying an additional 208 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Atkore by 63.7% during the 3rd quarter. Covestor Ltd now owns 1,002 shares of the company’s stock worth $85,000 after buying an additional 390 shares during the period. Headlands Technologies LLC grew its stake in Atkore by 829.9% in the 2nd quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock valued at $122,000 after buying an additional 805 shares during the last quarter. Finally, Pinnacle Associates Ltd. bought a new position in Atkore in the 3rd quarter worth $126,000.

About Atkore

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.