Atkore Inc. (NYSE:ATKR) Receives $131.60 Average Price Target from Brokerages

Atkore Inc. (NYSE:ATKR) has earned a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $131.60.

Several equities analysts have weighed in on the company. Royal Bank of Canada cut Atkore from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $175.00 to $100.00 in a report on Wednesday, August 7th. KeyCorp cut their price target on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, September 13th. B. Riley cut their price target on Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Loop Capital dropped their target price on Atkore from $160.00 to $130.00 and set a “buy” rating for the company in a report on Friday, September 20th.

Atkore Stock Down 0.4 %

Shares of ATKR opened at $88.64 on Tuesday. The business’s 50 day moving average is $89.00 and its 200 day moving average is $129.27. The company has a market capitalization of $3.23 billion, a PE ratio of 5.53 and a beta of 2.14. Atkore has a 12-month low of $80.11 and a 12-month high of $194.98. The company has a current ratio of 3.26, a quick ratio of 2.03 and a debt-to-equity ratio of 0.49.

Atkore (NYSE:ATKR) last issued its earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $0.28. The company had revenue of $822.40 million for the quarter, compared to the consensus estimate of $830.16 million. Atkore had a return on equity of 36.96% and a net margin of 16.47%. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the company earned $5.13 EPS. Research analysts expect that Atkore will post 12.69 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Tuesday, August 20th. Atkore’s dividend payout ratio (DPR) is 7.98%.

Insider Transactions at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $95.47, for a total transaction of $47,735.00. Following the completion of the sale, the insider now directly owns 28,086 shares of the company’s stock, valued at approximately $2,681,370.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.56% of the company’s stock.

Institutional Investors Weigh In On Atkore

A number of institutional investors and hedge funds have recently modified their holdings of ATKR. AlphaMark Advisors LLC raised its position in Atkore by 91.8% during the 3rd quarter. AlphaMark Advisors LLC now owns 3,364 shares of the company’s stock valued at $285,000 after purchasing an additional 1,610 shares in the last quarter. nVerses Capital LLC raised its position in Atkore by 24.0% during the 3rd quarter. nVerses Capital LLC now owns 3,100 shares of the company’s stock valued at $263,000 after purchasing an additional 600 shares in the last quarter. Twelve Points Wealth Management LLC raised its position in Atkore by 20.4% during the 3rd quarter. Twelve Points Wealth Management LLC now owns 17,050 shares of the company’s stock valued at $1,445,000 after purchasing an additional 2,884 shares in the last quarter. Creative Planning raised its position in Atkore by 37.1% during the 3rd quarter. Creative Planning now owns 7,658 shares of the company’s stock valued at $649,000 after purchasing an additional 2,073 shares in the last quarter. Finally, Wedge Capital Management L L P NC raised its position in Atkore by 53.6% during the 3rd quarter. Wedge Capital Management L L P NC now owns 160,117 shares of the company’s stock valued at $13,568,000 after purchasing an additional 55,841 shares in the last quarter.

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.