Atkore (NYSE:ATKR) Price Target Lowered to $80.00 at KeyCorp

Atkore (NYSE:ATKR) had its target price decreased by KeyCorp from $105.00 to $80.00 in a research note published on Wednesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

A number of other equities analysts have also recently commented on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 price objective (up from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. B. Riley lowered Atkore from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $135.00 to $84.00 in a research report on Friday, November 22nd. Loop Capital decreased their price objective on Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Roth Mkm started coverage on Atkore in a report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 target price for the company. Finally, Roth Capital upgraded Atkore to a “strong-buy” rating in a report on Monday, December 16th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.50.

Atkore Price Performance

NYSE:ATKR opened at $65.54 on Wednesday. The business’s 50-day moving average is $85.16 and its 200 day moving average is $91.50. Atkore has a 12 month low of $62.62 and a 12 month high of $194.98. The company has a market capitalization of $2.28 billion, a P/E ratio of 5.19 and a beta of 2.12. 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 issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.45. Atkore had a return on equity of 32.14% and a net margin of 14.77%. The business had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $680.77 million. During the same period in the prior year, the firm earned $4.12 EPS. The company’s revenue for the quarter was down 17.1% on a year-over-year basis. On average, equities research analysts forecast that Atkore will post 6.62 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Tuesday, February 18th. Atkore’s payout ratio is currently 10.13%.

Insider Buying and Selling at Atkore

In other Atkore news, 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 value of $315,282.59. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Daniel S. Kelly sold 13,071 shares of the firm’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 in the company, valued at approximately $2,635,530.72. This trade represents a 32.20 % decrease in their ownership of the stock. 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 quarter. 1.99% of the stock is owned by insiders.

Institutional Investors Weigh In On Atkore

Several hedge funds have recently made changes to their positions in ATKR. Signaturefd LLC increased its stake in shares of Atkore by 445.6% during the third quarter. Signaturefd LLC now owns 491 shares of the company’s stock valued at $42,000 after buying an additional 401 shares during the period. Quarry LP grew its holdings in Atkore by 48.8% during the 3rd quarter. Quarry LP now owns 634 shares of the company’s stock worth $54,000 after acquiring an additional 208 shares in the last quarter. Pacer Advisors Inc. increased its position in Atkore by 30.2% during the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock valued at $70,000 after purchasing an additional 195 shares during the period. Covestor Ltd raised its holdings in shares of 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 purchasing an additional 390 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Atkore by 47.7% in the 4th quarter. KBC Group NV now owns 1,452 shares of the company’s stock worth $121,000 after purchasing an additional 469 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.