Roth Mkm Begins Coverage on Atkore (NYSE:ATKR)

Research analysts at Roth Mkm started coverage on shares of Atkore (NYSE:ATKR) in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm set a “buy” rating and a $100.00 price target on the stock. Roth Mkm’s price objective suggests a potential upside of 18.23% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 target price (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Loop Capital cut their price objective on Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday, November 22nd. KeyCorp decreased their price objective on Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. Finally, B. Riley cut shares of Atkore from a “buy” rating to a “neutral” rating and reduced their price target for the company from $135.00 to $84.00 in a research report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Atkore currently has a consensus rating of “Hold” and a consensus target price of $115.67.

Atkore Stock Down 0.3 %

Shares of NYSE:ATKR opened at $84.58 on Tuesday. Atkore has a one year low of $76.01 and a one year high of $194.98. The firm has a fifty day moving average price of $89.61 and a two-hundred day moving average price of $105.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.98 and a quick ratio of 1.96. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 6.70 and a beta of 2.10.

Atkore (NYSE:ATKR) last issued 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 business had revenue of $788.30 million for the quarter, compared to the consensus estimate of $749.49 million. Atkore had a net margin of 14.77% and a return on equity of 32.14%. The business’s revenue was down 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.63 EPS. Analysts anticipate that Atkore will post 6.69 EPS for the current fiscal year.

Insider Activity

In other Atkore news, Director Jeri L. Isbell sold 3,353 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Daniel S. Kelly sold 13,071 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $95.74, for a total transaction of $1,251,417.54. Following the transaction, the vice president now directly owns 27,528 shares of the company’s stock, valued at approximately $2,635,530.72. This trade represents a 32.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,924 shares of company stock valued at $1,614,975. 2.56% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Quarry LP purchased a new stake in Atkore in the 2nd quarter worth approximately $57,000. Signaturefd LLC boosted its holdings in Atkore by 445.6% in 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. Headlands Technologies LLC increased its position in Atkore by 829.9% during the 2nd quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock valued at $122,000 after purchasing an additional 805 shares during the period. Covestor Ltd increased its position in Atkore by 63.7% during the 3rd quarter. Covestor Ltd now owns 1,002 shares of the company’s stock valued at $85,000 after purchasing an additional 390 shares during the period. Finally, Pinnacle Associates Ltd. bought a new position in Atkore in the 3rd quarter worth $126,000.

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.