KeyCorp Has Lowered Expectations for Atkore (NYSE:ATKR) Stock Price

Atkore (NYSE:ATKR) had its target price dropped by analysts at KeyCorp from $80.00 to $70.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s target price suggests a potential upside of 30.79% from the stock’s previous close.

Several other research firms also recently weighed in on ATKR. Roth Mkm assumed coverage on Atkore in a research report on Tuesday, December 17th. They set a “buy” rating and a $100.00 price target for the company. Roth Capital raised shares of Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Finally, Loop Capital downgraded Atkore from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $115.00 to $65.00 in a report on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Atkore has a consensus rating of “Moderate Buy” and an average price target of $101.50.

Atkore Price Performance

ATKR traded down $0.53 during trading on Tuesday, reaching $53.52. The company’s stock had a trading volume of 75,150 shares, compared to its average volume of 692,148. Atkore has a 1 year low of $49.92 and a 1 year high of $185.47. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 5.18 and a beta of 2.02. The firm has a fifty day simple moving average of $65.82 and a two-hundred day simple moving average of $79.64. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51.

Atkore (NYSE:ATKR) last issued its earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.45. The firm had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $680.77 million. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The firm’s revenue was down 17.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.12 earnings per share. As a group, analysts anticipate that Atkore will post 5.79 EPS for the current year.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 500 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $65.00, for a total transaction of $32,500.00. Following the transaction, the insider now owns 33,760 shares in the company, valued at $2,194,400. This represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.99% of the company’s stock.

Institutional Trading of Atkore

Institutional investors have recently modified their holdings of the business. Lakewood Asset Management LLC grew its stake in Atkore by 1.4% in the fourth quarter. Lakewood Asset Management LLC now owns 9,057 shares of the company’s stock valued at $756,000 after acquiring an additional 126 shares during the period. Van Den Berg Management I Inc. boosted its holdings in shares of Atkore by 0.4% in the fourth quarter. Van Den Berg Management I Inc. now owns 41,041 shares of the company’s stock worth $3,425,000 after acquiring an additional 158 shares during the period. Isthmus Partners LLC increased its position in shares of Atkore by 0.8% during the fourth quarter. Isthmus Partners LLC now owns 21,441 shares of the company’s stock valued at $1,789,000 after buying an additional 162 shares during the period. Xponance Inc. boosted its holdings in Atkore by 6.9% in the 4th quarter. Xponance Inc. now owns 2,569 shares of the company’s stock valued at $214,000 after purchasing an additional 166 shares during the period. Finally, Willis Investment Counsel grew its position in Atkore by 3.3% during the fourth quarter. Willis Investment Counsel now owns 5,350 shares of the company’s stock worth $446,000 after buying an additional 171 shares in the last quarter.

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.