Atkore Inc. (NYSE:ATKR) Receives $131.60 Average Price Target from Analysts

Atkore Inc. (NYSE:ATKR) has received a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $131.60.

A number of research analysts recently weighed in on the stock. B. Riley decreased their price target on shares of Atkore from $183.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Loop Capital decreased their price target on shares of Atkore from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Royal Bank of Canada lowered shares of Atkore from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $175.00 to $100.00 in a research note on Wednesday, August 7th. Finally, KeyCorp decreased their price target on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $95.47, for a total value of $47,735.00. Following the transaction, the insider now directly owns 28,086 shares of the company’s stock, valued at $2,681,370.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.56% of the company’s stock.

Institutional Trading of Atkore

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Arizona State Retirement System increased its holdings in shares of Atkore by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 10,294 shares of the company’s stock worth $1,389,000 after buying an additional 85 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in Atkore by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 4,944 shares of the company’s stock valued at $667,000 after purchasing an additional 99 shares during the last quarter. Opinicus Capital Inc. increased its holdings in Atkore by 3.8% in the 1st quarter. Opinicus Capital Inc. now owns 3,263 shares of the company’s stock valued at $621,000 after purchasing an additional 118 shares during the last quarter. Meixler Investment Management Ltd. increased its holdings in Atkore by 6.5% in the 2nd quarter. Meixler Investment Management Ltd. now owns 1,947 shares of the company’s stock valued at $263,000 after purchasing an additional 119 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in Atkore by 3.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 4,115 shares of the company’s stock valued at $555,000 after purchasing an additional 129 shares during the last quarter.

Atkore Trading Up 1.0 %

ATKR stock opened at $89.55 on Tuesday. The company’s 50-day simple moving average is $88.89 and its 200-day simple moving average is $128.16. The company has a quick ratio of 2.03, a current ratio of 3.26 and a debt-to-equity ratio of 0.49. Atkore has a 52-week low of $80.11 and a 52-week high of $194.98. The firm has a market cap of $3.26 billion, a P/E ratio of 5.58 and a beta of 2.14.

Atkore (NYSE:ATKR) last posted its earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $0.28. Atkore had a net margin of 16.47% and a return on equity of 36.96%. The business had revenue of $822.40 million for the quarter, compared to analyst estimates of $830.16 million. During the same period in the prior year, the company posted $5.13 EPS. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, equities analysts forecast that Atkore will post 12.69 EPS for the current fiscal year.

Atkore Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Tuesday, August 20th. Atkore’s dividend payout ratio (DPR) is 7.98%.

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.