Atkore (NYSE:ATKR) Price Target Raised to $143.00

Atkore (NYSE:ATKRGet Rating) had its price objective upped by Credit Suisse Group from $130.00 to $143.00 in a report issued on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages also recently commented on ATKR. Citigroup upped their price objective on shares of Atkore from $109.00 to $125.00 in a research note on Wednesday, May 4th. Royal Bank of Canada lowered their price objective on shares of Atkore from $151.00 to $125.00 and set an outperform rating for the company in a research note on Wednesday. Finally, StockNews.com downgraded shares of Atkore from a strong-buy rating to a buy rating in a research note on Wednesday, July 27th.

Atkore Stock Performance

Atkore stock opened at $88.89 on Wednesday. The company has a market capitalization of $3.83 billion, a PE ratio of 4.58 and a beta of 2.27. The firm has a fifty day simple moving average of $93.66 and a two-hundred day simple moving average of $98.97. The company has a quick ratio of 2.35, a current ratio of 2.77 and a debt-to-equity ratio of 0.67. Atkore has a twelve month low of $80.04 and a twelve month high of $123.53.

Atkore (NYSE:ATKRGet Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $6.07 EPS for the quarter, beating the consensus estimate of $5.22 by $0.85. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.01 billion. Atkore had a net margin of 23.50% and a return on equity of 90.18%. The company’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.96 earnings per share.

Insider Activity at Atkore

In related news, CEO William E. Jr. Waltz sold 20,000 shares of the business’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $118.65, for a total transaction of $2,373,000.00. Following the transaction, the chief executive officer now owns 39,017 shares in the company, valued at $4,629,367.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Atkore

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. MQS Management LLC purchased a new stake in Atkore in the second quarter worth about $223,000. Riverwater Partners LLC grew its holdings in Atkore by 8.3% in the second quarter. Riverwater Partners LLC now owns 14,392 shares of the company’s stock worth $1,195,000 after purchasing an additional 1,107 shares during the period. Ifrah Financial Services Inc. purchased a new stake in Atkore in the second quarter worth about $449,000. Los Angeles Capital Management LLC grew its holdings in Atkore by 6.9% in the second quarter. Los Angeles Capital Management LLC now owns 19,394 shares of the company’s stock worth $1,610,000 after purchasing an additional 1,251 shares during the period. Finally, Seizert Capital Partners LLC grew its holdings in Atkore by 190.8% in the second quarter. Seizert Capital Partners LLC now owns 88,722 shares of the company’s stock worth $7,365,000 after purchasing an additional 58,217 shares during the period. Hedge funds and other institutional investors own 94.87% of the company’s stock.

About Atkore

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Atkore Inc manufactures and sells electrical, safety, and infrastructure products in the United States and internationally. The company offers electrical products, including conduits cables, and installation accessories. It also provides safety and infrastructure solutions, such as metal framing, mechanical pipe, perimeter security, and cable management.

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