Atkore Inc. (NYSE:ATKR) Stock Now Rated “Hold” by Sell-Side Analysts

Atkore Inc. (NYSE:ATKR) has earned a consensus recommendation of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $143.33.

A number of research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Atkore from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 12th. Roth Capital cut shares of Atkore from a “buy” rating to a “neutral” rating and increased their price target for the stock from $85.00 to $92.00 in a report on Tuesday, August 4th. Wall Street Zen upgraded shares of Atkore from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Finally, Royal Bank Of Canada set a $76.00 price objective on shares of Atkore in a research report on Thursday, July 16th.

Atkore Stock Performance

ATKR traded up $0.04 during trading on Friday, hitting $94.97. The stock had a trading volume of 1,301,640 shares, compared to its average volume of 758,100. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.04 and a current ratio of 2.73. The firm has a market capitalization of $3.21 billion, a P/E ratio of -19.74 and a beta of 1.69. The company’s 50-day moving average price is $94.22 and its 200 day moving average price is $81.92. Atkore has a twelve month low of $53.75 and a twelve month high of $94.97.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.39. Atkore had a negative net margin of 5.55% and a positive return on equity of 10.27%. The company had revenue of $794.80 million during the quarter, compared to the consensus estimate of $756.23 million. During the same quarter in the prior year, the firm earned $2.17 EPS. On average, equities research analysts forecast that Atkore will post 5.15 EPS for the current fiscal year.

Atkore Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Tuesday, August 18th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, August 18th. This represents a $1.32 annualized dividend and a yield of 1.4%. Atkore’s payout ratio is presently -27.44%.

Insider Activity

In other news, insider Mark Lamps sold 300 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $93.75, for a total transaction of $28,125.00. Following the completion of the transaction, the insider directly owned 35,803 shares of the company’s stock, valued at approximately $3,356,531.25. This represents a 0.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Atkore

A number of institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in Atkore by 37.7% in the 3rd quarter. GAMMA Investing LLC now owns 435 shares of the company’s stock valued at $41,000 after acquiring an additional 119 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of Atkore by 2.8% during the 1st quarter. Cetera Investment Advisers now owns 5,212 shares of the company’s stock worth $307,000 after purchasing an additional 143 shares during the period. Global Retirement Partners LLC acquired a new stake in shares of Atkore during the second quarter worth $28,000. Baron Wealth Management LLC boosted its holdings in shares of Atkore by 11.7% during the first quarter. Baron Wealth Management LLC now owns 3,707 shares of the company’s stock worth $218,000 after purchasing an additional 387 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Atkore in the second quarter valued at $31,000.

About Atkore

Atkore Inc is a manufacturer of electrical, safety and infrastructure products for the construction, industrial and commercial markets. The company supplies systems and components used to manage, protect and route electrical wiring and cable, as well as products that support structural and safety applications.

Its product portfolio includes electrical raceway systems, conduit, fittings, cable management products, wire and cable, mechanical tubing, framing systems, and related safety and infrastructure solutions.