Atkore Inc. (NYSE:ATKR) Receives $115.67 Consensus Target Price from Brokerages

Shares of Atkore Inc. (NYSE:ATKR) have been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $115.67.

A number of equities research analysts have commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 price target (up previously from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. B. Riley downgraded shares of Atkore from a “buy” rating to a “neutral” rating and decreased their target price for the company from $135.00 to $84.00 in a research report on Friday, November 22nd. KeyCorp dropped their price target on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. Roth Capital upgraded shares of Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Finally, Roth Mkm began coverage on shares of Atkore in a report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 target price on the stock.

Atkore Stock Performance

NYSE:ATKR opened at $83.44 on Friday. The stock’s 50-day moving average is $88.61 and its 200-day moving average is $100.31. The stock has a market cap of $2.90 billion, a P/E ratio of 6.61 and a beta of 2.13. Atkore has a 1-year low of $76.01 and a 1-year high of $194.98. The company has a current ratio of 2.98, a quick ratio of 1.96 and a debt-to-equity ratio of 0.50.

Atkore (NYSE:ATKR) last announced its quarterly earnings results on Thursday, November 21st. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.06). Atkore had a net margin of 14.77% and a return on equity of 32.14%. The business had revenue of $788.30 million during the quarter, compared to analyst estimates of $749.49 million. During the same quarter last year, the company posted $3.63 earnings per share. The company’s revenue was down 9.4% compared to the same quarter last year. Equities research analysts anticipate that Atkore will post 6.69 earnings per share for the current year.

Atkore Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, December 6th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Friday, December 6th. Atkore’s dividend payout ratio (DPR) is currently 10.13%.

Insider Transactions at Atkore

In other news, VP Daniel S. Kelly sold 13,071 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was 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 $2,635,530.72. This represents a 32.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction on Monday, November 11th. The shares were sold at an average price of $96.55, for a total transaction of $48,275.00. Following the completion of the sale, the insider now directly owns 27,626 shares of the company’s stock, valued at approximately $2,667,290.30. The trade was a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,924 shares of company stock valued at $1,614,975 in the last 90 days. 1.99% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Atkore

Institutional investors and hedge funds have recently made changes to their positions in the business. Signaturefd LLC increased its holdings in Atkore by 445.6% during the 3rd quarter. Signaturefd LLC now owns 491 shares of the company’s stock worth $42,000 after purchasing an additional 401 shares in the last quarter. Quarry LP grew its holdings in Atkore by 48.8% during the third quarter. Quarry LP now owns 634 shares of the company’s stock worth $54,000 after buying an additional 208 shares in the last quarter. Covestor Ltd raised its position in Atkore by 63.7% in the 3rd quarter. Covestor Ltd now owns 1,002 shares of the company’s stock valued at $85,000 after buying an additional 390 shares during the last quarter. Headlands Technologies LLC lifted its stake 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 acquiring an additional 805 shares in the last quarter. Finally, Pinnacle Associates Ltd. bought a new position in Atkore during the 3rd quarter valued at $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.