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

Shares of Atkore Inc. (NYSE:ATKR) have been given a consensus recommendation of “Moderate Buy” by the five research firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $131.60.

A number of research firms recently commented on ATKR. B. Riley lowered their price target on Atkore from $183.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Loop Capital lowered their target price on shares of Atkore from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Royal Bank of Canada cut shares of Atkore from an “outperform” rating to a “sector perform” rating and cut their target price 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.

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $96.55, for a total transaction of $48,275.00. Following the sale, the insider now directly owns 27,626 shares in the company, valued at approximately $2,667,290.30. This represents a 1.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.56% of the stock is owned by company insiders.

Institutional Investors Weigh In On Atkore

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ATKR. Boston Partners increased its position in shares of Atkore by 12.0% during the 1st quarter. Boston Partners now owns 1,340,146 shares of the company’s stock valued at $254,733,000 after purchasing an additional 143,121 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Atkore by 26.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company’s stock valued at $104,599,000 after acquiring an additional 261,234 shares during the period. American Century Companies Inc. lifted its holdings in shares of Atkore by 22.9% in the 2nd quarter. American Century Companies Inc. now owns 773,697 shares of the company’s stock worth $104,395,000 after acquiring an additional 144,283 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Atkore by 48.4% during the 1st quarter. Clearbridge Investments LLC now owns 514,908 shares of the company’s stock worth $98,018,000 after purchasing an additional 168,042 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in Atkore by 1.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 449,323 shares of the company’s stock valued at $85,535,000 after purchasing an additional 4,852 shares during the last quarter.

Atkore Price Performance

Shares of Atkore stock opened at $88.98 on Friday. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 6.25 and a beta of 2.13. The company has a quick ratio of 2.03, a current ratio of 3.26 and a debt-to-equity ratio of 0.49. The stock’s 50-day simple moving average is $87.45 and its 200-day simple moving average is $117.08. Atkore has a 52 week low of $80.11 and a 52 week high of $194.98.

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.