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

Atkore Inc. (NYSE:ATKR) has earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $115.67.

Several research analysts have recently issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 price target (up previously from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. B. Riley cut shares of Atkore from a “buy” rating to a “neutral” rating and lowered their target price for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. Roth Capital raised shares of Atkore to a “strong-buy” rating in a research note on Monday, December 16th. Roth Mkm began coverage on shares of Atkore in a research note on Tuesday, December 17th. They set a “buy” rating and a $100.00 price objective on the stock. Finally, KeyCorp cut their target price on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, September 13th.

Atkore Trading Down 0.6 %

Shares of NYSE:ATKR opened at $83.37 on Friday. 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’s 50-day moving average price is $88.95 and its 200 day moving average price is $102.03. The company has a market cap of $2.89 billion, a PE ratio of 6.60 and a beta of 2.10. Atkore has a fifty-two week low of $76.01 and a fifty-two week high of $194.98.

Atkore (NYSE:ATKR) last released its quarterly earnings results on Thursday, November 21st. The company reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.06). Atkore had a net margin of 14.77% and a return on equity of 32.14%. The business had revenue of $788.30 million for the quarter, compared to the consensus estimate of $749.49 million. During the same period last year, the firm posted $3.63 EPS. The business’s quarterly revenue was down 9.4% on a year-over-year basis. Sell-side analysts anticipate that Atkore will post 6.69 earnings per share for the current year.

Atkore Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, December 6th were given a $0.32 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.28 annualized dividend and a yield of 1.54%. Atkore’s dividend payout ratio (DPR) is 10.13%.

Insider Buying and Selling at Atkore

In related news, VP Daniel S. Kelly sold 13,071 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $95.74, for a total value of $1,251,417.54. Following the completion of the sale, the vice president now owns 27,528 shares in the company, valued at approximately $2,635,530.72. This represents a 32.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeri L. Isbell sold 3,353 shares of Atkore stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $94.03, for a total transaction of $315,282.59. Following the transaction, the director now owns 25,585 shares in the company, 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 90 days, insiders have sold 16,924 shares of company stock valued at $1,614,975. Corporate insiders own 1.99% of the company’s stock.

Institutional Trading of Atkore

Several hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its stake in Atkore by 26.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company’s stock worth $104,599,000 after acquiring an additional 261,234 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Atkore by 22.9% during the second quarter. American Century Companies Inc. now owns 773,697 shares of the company’s stock worth $104,395,000 after purchasing an additional 144,283 shares during the period. Royce & Associates LP boosted its holdings in shares of Atkore by 20.2% during the third quarter. Royce & Associates LP now owns 396,054 shares of the company’s stock worth $33,562,000 after purchasing an additional 66,533 shares during the period. William Blair Investment Management LLC grew its position in Atkore by 5.4% during the second quarter. William Blair Investment Management LLC now owns 395,388 shares of the company’s stock valued at $53,350,000 after purchasing an additional 20,229 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Atkore by 23.5% in the 2nd quarter. Principal Financial Group Inc. now owns 336,835 shares of the company’s stock valued at $45,449,000 after buying an additional 64,050 shares during the period.

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.