Analysts Set Atkore Inc. (NYSE:ATKR) PT at $115.67

Atkore Inc. (NYSE:ATKR) has received an average rating of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $115.67.

Several analysts have recently weighed in on the company. Roth Capital upgraded Atkore to a “strong-buy” rating in a research note on Monday, December 16th. B. Riley downgraded Atkore from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $135.00 to $84.00 in a report on Friday, November 22nd. Roth Mkm assumed coverage on Atkore in a research note on Tuesday, December 17th. They set a “buy” rating and a $100.00 target price for the company. Royal Bank of Canada restated 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. Finally, Loop Capital reduced their price objective on shares of Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd.

Insider Transactions at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $96.55, for a total value of $48,275.00. Following the sale, the insider now owns 27,626 shares of the company’s stock, valued at $2,667,290.30. This trade represents a 1.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $315,282.59. Following the transaction, the director now directly owns 25,585 shares of the company’s stock, valued at $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. In the last three months, insiders have sold 16,924 shares of company stock worth $1,614,975. 1.99% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC boosted its holdings in shares of 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. Quarry LP increased its position in shares of Atkore by 48.8% during the 3rd quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after purchasing an additional 208 shares during the period. Covestor Ltd increased its position in shares of 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. Headlands Technologies LLC raised its stake in shares of Atkore by 829.9% in the 2nd quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock worth $122,000 after buying an additional 805 shares in the last quarter. Finally, Pinnacle Associates Ltd. acquired a new stake in shares of Atkore in the third quarter valued at $126,000.

Atkore Stock Performance

Shares of NYSE:ATKR opened at $81.43 on Friday. The business’s 50-day simple moving average is $88.65 and its 200 day simple moving average is $100.68. The company has a market cap of $2.83 billion, a P/E ratio of 6.45 and a beta of 2.10. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.96 and a current ratio of 2.98. Atkore has a one year low of $76.01 and a one year high of $194.98.

Atkore (NYSE:ATKR) last posted its quarterly earnings data 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 firm had revenue of $788.30 million for the quarter, compared to analysts’ expectations of $749.49 million. Atkore had a net margin of 14.77% and a return on equity of 32.14%. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.63 EPS. On average, sell-side analysts forecast that Atkore will post 6.69 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, December 6th were issued a dividend of $0.32 per share. The ex-dividend date was Friday, December 6th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.57%. Atkore’s dividend payout ratio (DPR) is 10.13%.

About Atkore

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.