KeyCorp Lowers Atkore (NYSE:ATKR) Price Target to $105.00

Atkore (NYSE:ATKR) had its target price decreased by stock analysts at KeyCorp from $125.00 to $105.00 in a report released on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s target price would suggest a potential upside of 23.50% from the stock’s previous close.

Several other research firms have also commented on ATKR. Royal Bank of Canada lowered shares of Atkore from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $175.00 to $100.00 in a report on Wednesday, August 7th. B. Riley reduced their price objective on shares of Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $132.00.

Atkore Trading Up 2.7 %

Shares of ATKR opened at $85.02 on Friday. Atkore has a 1-year low of $80.11 and a 1-year high of $194.98. The company has a 50-day moving average of $112.30 and a 200 day moving average of $144.79. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 5.30 and a beta of 2.14. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03.

Atkore (NYSE:ATKR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $3.80 EPS for the quarter, beating the consensus estimate of $3.52 by $0.28. Atkore had a net margin of 16.47% and a return on equity of 36.96%. The business had revenue of $822.40 million during the quarter, compared to analyst estimates of $830.16 million. During the same quarter in the previous year, the business posted $5.13 EPS. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. On average, research analysts expect that Atkore will post 12.69 EPS for the current year.

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $95.47, for a total transaction of $47,735.00. Following the transaction, the insider now owns 28,086 shares in the company, valued at approximately $2,681,370.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.56% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new position in Atkore during the 2nd quarter valued at approximately $1,339,000. Dana Investment Advisors Inc. increased its stake in shares of Atkore by 15.0% in the second quarter. Dana Investment Advisors Inc. now owns 13,307 shares of the company’s stock worth $1,796,000 after acquiring an additional 1,732 shares during the period. Chase Investment Counsel Corp acquired a new stake in shares of Atkore in the second quarter worth $890,000. Quarry LP acquired a new stake in shares of Atkore in the second quarter worth $57,000. Finally, Creative Planning increased its stake in shares of Atkore by 20.0% in the second quarter. Creative Planning now owns 5,585 shares of the company’s stock worth $754,000 after acquiring an additional 932 shares during the period.

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.