Atkore Inc. (NYSE:ATKR) Receives $131.60 Consensus Target Price from Brokerages

Atkore Inc. (NYSE:ATKR) has been given an average recommendation of “Moderate Buy” by the five analysts that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $131.60.

Several analysts recently weighed in on ATKR shares. KeyCorp lowered their price objective on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, September 13th. B. Riley lowered their price objective on Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada lowered Atkore from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $175.00 to $100.00 in a report on Wednesday, August 7th. Finally, Loop Capital lowered their price objective on Atkore from $160.00 to $130.00 and set a “buy” rating for the company in a report on Friday, September 20th.

Atkore Stock Down 2.6 %

Shares of NYSE ATKR opened at $87.21 on Tuesday. Atkore has a 1 year low of $80.11 and a 1 year high of $194.98. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 5.44 and a beta of 2.14. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.03 and a current ratio of 3.26. The stock’s 50-day simple moving average is $88.74 and its 200-day simple moving average is $127.09.

Atkore (NYSE:ATKR) last announced its earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.52 by $0.28. Atkore had a return on equity of 36.96% and a net margin of 16.47%. The business had revenue of $822.40 million for the quarter, compared to analyst estimates of $830.16 million. During the same period in the previous year, the company earned $5.13 earnings per share. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, equities analysts anticipate that Atkore will post 12.69 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Tuesday, August 20th. Atkore’s dividend payout ratio (DPR) is presently 7.98%.

Insider Activity

In other news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $95.47, for a total transaction of $47,735.00. Following the completion of the transaction, the insider now directly owns 28,086 shares of the company’s stock, valued at approximately $2,681,370.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.56% of the company’s stock.

Hedge Funds Weigh In On Atkore

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Arizona State Retirement System boosted its position in shares of Atkore by 0.8% during the second quarter. Arizona State Retirement System now owns 10,294 shares of the company’s stock worth $1,389,000 after buying an additional 85 shares during the period. SummerHaven Investment Management LLC boosted its position in shares of Atkore by 2.0% during the second quarter. SummerHaven Investment Management LLC now owns 4,944 shares of the company’s stock worth $667,000 after buying an additional 99 shares during the period. Opinicus Capital Inc. boosted its position in shares of Atkore by 3.8% during the first quarter. Opinicus Capital Inc. now owns 3,263 shares of the company’s stock worth $621,000 after buying an additional 118 shares during the period. Meixler Investment Management Ltd. boosted its position in shares of Atkore by 6.5% during the second quarter. Meixler Investment Management Ltd. now owns 1,947 shares of the company’s stock worth $263,000 after buying an additional 119 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in shares of Atkore by 3.2% during the second quarter. Commonwealth Equity Services LLC now owns 4,115 shares of the company’s stock worth $555,000 after buying an additional 129 shares during the period.

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.