Atkore Inc. (NYSE:ATKR) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Atkore Inc. (NYSE:ATKR) have received a consensus rating of “Moderate Buy” from the four analysts that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $132.00.

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

Atkore Stock Up 0.2 %

NYSE ATKR traded up $0.15 during mid-day trading on Friday, reaching $89.31. 79,166 shares of the company’s stock traded hands, compared to its average volume of 620,286. 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 has a 1-year low of $80.11 and a 1-year high of $194.98. The company has a fifty day simple moving average of $107.54 and a 200-day simple moving average of $142.04. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 5.57 and a beta of 2.15.

Atkore (NYSE:ATKR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share for the quarter, topping analysts’ consensus estimates of $3.52 by $0.28. The business 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 quarter last year, the company earned $5.13 earnings per share. As a group, equities research analysts expect that Atkore will post 12.69 EPS for the current year.

Atkore Announces Dividend

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

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $95.47, for a total value of $47,735.00. Following the completion of the transaction, the insider now directly owns 28,086 shares in the company, valued at $2,681,370.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.56% of the stock is owned by company insiders.

Institutional Investors Weigh In On Atkore

A number of hedge funds have recently added to or reduced their stakes in the stock. ICA Group Wealth Management LLC bought a new position in shares of Atkore during the fourth quarter worth about $25,000. LifeSteps Financial Inc. acquired a new position in Atkore during the 1st quarter valued at about $33,000. Quarry LP bought a new position in Atkore in the 2nd quarter worth about $57,000. Mather Group LLC. grew its position in Atkore by 895.7% in the 2nd quarter. Mather Group LLC. now owns 468 shares of the company’s stock worth $63,000 after purchasing an additional 421 shares during the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of Atkore in the fourth quarter valued at approximately $66,000.

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.