Atkore (NYSE:ATKR) Earns Buy Rating from Analysts at Roth Mkm

Equities research analysts at Roth Mkm assumed coverage on shares of Atkore (NYSE:ATKR) in a research report issued on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $100.00 price target on the stock. Roth Mkm’s price objective points to a potential upside of 18.23% from the company’s current price.

ATKR has been the subject of a number of other research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 target price (up previously from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Loop Capital cut their price objective on Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday, November 22nd. B. Riley downgraded Atkore from a “buy” rating to a “neutral” rating and lowered their target price for the company from $135.00 to $84.00 in a report on Friday, November 22nd. Finally, KeyCorp cut their price target on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Atkore currently has an average rating of “Hold” and an average price target of $115.67.

Atkore Price Performance

Shares of ATKR stock opened at $84.58 on Tuesday. The business’s fifty day moving average is $89.61 and its 200 day moving average is $105.54. Atkore has a twelve month low of $76.01 and a twelve month high of $194.98. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 6.70 and a beta of 2.10. The company has a quick ratio of 1.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.50.

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

Insider Transactions at Atkore

In other news, VP Daniel S. Kelly sold 13,071 shares of the 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 directly owns 27,528 shares of the company’s stock, valued at $2,635,530.72. This represents a 32.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction on Monday, November 11th. The shares were sold at an average price of $96.55, for a total transaction of $48,275.00. Following the transaction, the insider now owns 27,626 shares in the company, valued at approximately $2,667,290.30. This trade represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,924 shares of company stock valued at $1,614,975 over the last quarter. 2.56% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Atkore

Hedge funds have recently modified their holdings of the stock. Hodges Capital Management Inc. bought a new stake in Atkore in the 2nd quarter valued at $4,158,000. Maverick Capital Ltd. increased its holdings in shares of Atkore by 386.9% in the second quarter. Maverick Capital Ltd. now owns 9,709 shares of the company’s stock worth $1,310,000 after purchasing an additional 7,715 shares during the last quarter. Chase Investment Counsel Corp increased its holdings in shares of Atkore by 97.0% in the third quarter. Chase Investment Counsel Corp now owns 13,000 shares of the company’s stock worth $1,101,000 after purchasing an additional 6,400 shares during the last quarter. Panagora Asset Management Inc. purchased a new stake in shares of Atkore in the second quarter worth about $3,095,000. Finally, M&G PLC bought a new position in Atkore during the third quarter valued at approximately $9,123,000.

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.