Analysts Set Atkore Inc. (NYSE:ATKR) Target Price at $103.17

Shares of Atkore Inc. (NYSE:ATKR) have earned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $103.17.

Several research analysts recently commented on the company. Roth Capital upgraded Atkore to a “strong-buy” rating in a research note on Monday, December 16th. KeyCorp cut their price target on Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Royal Bank of Canada reiterated 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. Loop Capital cut Atkore from a “buy” rating to a “hold” rating and cut their price target for the stock from $115.00 to $65.00 in a research note on Monday, February 10th. Finally, Roth Mkm began coverage on Atkore in a research note on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target on the stock.

Insider Transactions at Atkore

In other news, insider Mark F. Lamps sold 500 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $65.00, for a total transaction of $32,500.00. Following the sale, the insider now directly owns 33,760 shares in the company, valued at approximately $2,194,400. This represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.99% of the company’s stock.

Institutional Trading of Atkore

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp raised its position in shares of Atkore by 87.7% during the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock worth $33,000 after purchasing an additional 186 shares during the period. Quarry LP grew its holdings in Atkore by 48.8% in the 3rd quarter. Quarry LP now owns 634 shares of the company’s stock worth $54,000 after buying an additional 208 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Atkore by 30.2% in the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock worth $70,000 after buying an additional 195 shares in the last quarter. Covestor Ltd grew its holdings in Atkore by 63.7% in the 3rd 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, Harbour Investments Inc. grew its holdings in Atkore by 3,333.3% in the 4th quarter. Harbour Investments Inc. now owns 1,030 shares of the company’s stock worth $86,000 after buying an additional 1,000 shares in the last quarter.

Atkore Price Performance

ATKR stock opened at $64.55 on Friday. The stock has a 50-day moving average price of $73.29 and a two-hundred day moving average price of $82.53. Atkore has a 12-month low of $55.91 and a 12-month high of $194.98. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. The company has a market cap of $2.24 billion, a PE ratio of 6.25 and a beta of 2.22.

Atkore (NYSE:ATKR) last issued its earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.45. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The company had revenue of $661.60 million during the quarter, compared to the consensus estimate of $680.77 million. During the same quarter in the prior year, the business earned $4.12 earnings per share. The company’s revenue was down 17.1% compared to the same quarter last year. As a group, research analysts predict that Atkore will post 5.79 EPS for the current year.

Atkore Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend was Tuesday, February 18th. Atkore’s payout ratio is 12.39%.

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.