Atkore (NYSE:ATKR) PT Lowered to $105.00

Atkore (NYSE:ATKR) had its target price decreased by equities researchers at KeyCorp from $125.00 to $105.00 in a report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price objective indicates a potential upside of 21.58% from the stock’s previous close.

ATKR has been the subject of a number of other research reports. Royal Bank of Canada downgraded Atkore from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $175.00 to $100.00 in a research report on Wednesday, August 7th. B. Riley dropped their target price on shares of Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $132.00.

Atkore Price Performance

ATKR stock opened at $86.36 on Friday. The firm has a 50 day moving average of $111.41 and a 200-day moving average of $144.14. The firm has a market capitalization of $3.10 billion, a P/E ratio of 5.38 and a beta of 2.14. Atkore has a 12 month low of $80.11 and a 12 month high of $194.98. The company has a current ratio of 3.26, a quick ratio of 2.03 and a debt-to-equity ratio of 0.49.

Atkore (NYSE:ATKR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $3.80 EPS for the quarter, beating the consensus estimate of $3.52 by $0.28. The firm had revenue of $822.40 million during the quarter, compared to the consensus estimate of $830.16 million. Atkore had a net margin of 16.47% and a return on equity of 36.96%. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period last year, the firm earned $5.13 EPS. As a group, sell-side analysts predict that Atkore will post 12.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 500 shares of the business’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 completion of the sale, the insider now directly owns 28,086 shares in the company, valued at approximately $2,681,370.42. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.56% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. ICA Group Wealth Management LLC bought a new position in Atkore during the 4th quarter worth approximately $25,000. LifeSteps Financial Inc. bought a new position in shares of Atkore in the first quarter worth approximately $33,000. Global Retirement Partners LLC grew its holdings in shares of Atkore by 405.1% in the first quarter. Global Retirement Partners LLC now owns 197 shares of the company’s stock worth $38,000 after purchasing an additional 158 shares during the last quarter. Quarry LP purchased a new position in shares of Atkore in the second quarter worth $57,000. Finally, Mather Group LLC. raised its holdings in Atkore by 895.7% during the 2nd quarter. Mather Group LLC. now owns 468 shares of the company’s stock valued at $63,000 after buying an additional 421 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.