Atkore Inc. (NYSE:ATKR) Receives $117.00 Consensus PT from Analysts

Shares of Atkore Inc. (NYSE:ATKR) have been assigned an average rating of “Hold” from the five brokerages that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $118.80.

ATKR has been the subject of several analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $102.00 price target (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. B. Riley cut shares of Atkore from a “buy” rating to a “neutral” rating and decreased their target price for the company from $135.00 to $84.00 in a research report on Friday, November 22nd. KeyCorp lowered their target price on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Finally, Loop Capital reduced their price target on Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd.

Insiders Place Their Bets

In related news, insider Mark F. Lamps sold 500 shares of the stock in a transaction that occurred 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 transaction, the insider now 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 this link. Also, Director Jeri L. Isbell sold 3,353 shares of Atkore stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total transaction of $315,282.59. Following the sale, the director now owns 25,585 shares of the company’s stock, valued at approximately $2,405,757.55. The trade was a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,924 shares of company stock valued at $1,614,975. Insiders own 2.56% of the company’s stock.

Institutional Trading of Atkore

Hedge funds and other institutional investors have recently made changes to their positions in the business. Signaturefd LLC raised its position in Atkore by 445.6% during the third quarter. Signaturefd LLC now owns 491 shares of the company’s stock valued at $42,000 after acquiring an additional 401 shares in the last quarter. Quarry LP lifted its stake in shares of Atkore by 48.8% in the 3rd quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after purchasing an additional 208 shares during the period. Mather Group LLC. boosted its holdings in Atkore by 895.7% during the second quarter. Mather Group LLC. now owns 468 shares of the company’s stock worth $63,000 after buying an additional 421 shares in the last quarter. Covestor Ltd boosted its holdings in Atkore by 63.7% during the third quarter. Covestor Ltd now owns 1,002 shares of the company’s stock worth $85,000 after buying an additional 390 shares in the last quarter. Finally, Headlands Technologies LLC grew its position in Atkore by 829.9% during the second quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock valued at $122,000 after buying an additional 805 shares during the period.

Atkore Stock Performance

Shares of NYSE:ATKR opened at $89.00 on Wednesday. The firm has a 50 day moving average of $89.20 and a 200 day moving average of $108.31. The company has a quick ratio of 1.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 7.05 and a beta of 2.10. Atkore has a 52 week low of $76.01 and a 52 week high of $194.98.

Atkore (NYSE:ATKR) last announced its quarterly earnings results 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). The company had revenue of $788.30 million during the quarter, compared to analysts’ expectations of $749.49 million. Atkore had a net margin of 14.77% and a return on equity of 32.14%. The company’s revenue was down 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.63 earnings per share. On average, sell-side analysts predict that Atkore will post 6.69 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, December 6th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.44%. The ex-dividend date is Friday, December 6th. Atkore’s dividend payout ratio is presently 10.13%.

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.