Loop Capital Issues Pessimistic Forecast for Atkore (NYSE:ATKR) Stock Price

Atkore (NYSE:ATKR) had its price objective trimmed by Loop Capital from $130.00 to $115.00 in a report released on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts also recently commented on ATKR. B. Riley downgraded shares of Atkore from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $135.00 to $84.00 in a research note on Friday. KeyCorp dropped 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. Finally, Royal Bank of Canada cut Atkore from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $175.00 to $100.00 in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Atkore has an average rating of “Hold” and a consensus price target of $117.00.

Atkore Stock Up 5.5 %

Shares of ATKR opened at $94.62 on Friday. The firm has a 50 day simple moving average of $87.80 and a two-hundred day simple moving average of $112.73. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.98 and a quick ratio of 1.96. Atkore has a one year low of $76.01 and a one year high of $194.98. The company has a market cap of $3.30 billion, a P/E ratio of 7.39 and a beta of 2.13.

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, December 6th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Friday, December 6th. Atkore’s dividend payout ratio is presently 10.13%.

Insider Activity at Atkore

In other news, 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 value of $48,275.00. Following the completion of the sale, the insider now owns 27,626 shares in the company, valued at $2,667,290.30. The trade was a 1.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.56% of the stock is owned by company insiders.

Institutional Investors Weigh In On Atkore

A number of large investors have recently bought and sold shares of ATKR. Quarry LP bought a new position in shares of Atkore during the 2nd quarter worth about $57,000. Mather Group LLC. raised its stake in Atkore by 895.7% during the 2nd quarter. Mather Group LLC. now owns 468 shares of the company’s stock worth $63,000 after buying an additional 421 shares during the period. Signaturefd LLC raised its stake in Atkore by 445.6% during the 3rd quarter. Signaturefd LLC now owns 491 shares of the company’s stock worth $42,000 after buying an additional 401 shares during the period. Headlands Technologies LLC boosted its holdings in Atkore by 829.9% in the second quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock worth $122,000 after acquiring an additional 805 shares in the last quarter. Finally, Covestor Ltd grew its stake in Atkore by 63.7% in the third quarter. Covestor Ltd now owns 1,002 shares of the company’s stock valued at $85,000 after acquiring an additional 390 shares during the period.

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.