Atkore Inc. (NYSE:ATKR) Receives Average Recommendation of “Hold” from Analysts

Atkore Inc. (NYSE:ATKR) has been given an average recommendation of “Hold” by the six analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $143.3333.

A number of equities analysts have recently weighed in on ATKR shares. Citigroup increased their price target on Atkore from $74.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Royal Bank Of Canada set a $76.00 price target on shares of Atkore in a research report on Thursday, July 16th. Roth Capital lowered shares of Atkore from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $85.00 to $92.00 in a report on Tuesday, August 4th. Wall Street Zen raised shares of Atkore from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Finally, Weiss Ratings raised Atkore from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 12th.

Atkore Stock Up 0.2%

Shares of NYSE ATKR opened at $93.60 on Friday. The company has a 50 day simple moving average of $80.03 and a 200-day simple moving average of $73.05. The company has a market capitalization of $3.16 billion, a P/E ratio of -19.46 and a beta of 1.68. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.73 and a quick ratio of 2.04. Atkore has a 1 year low of $53.75 and a 1 year high of $94.14.

Atkore (NYSE:ATKR) last released its quarterly earnings results on Monday, August 3rd. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.53 by $0.39. The firm had revenue of $794.80 million for the quarter, compared to analyst estimates of $756.23 million. Atkore had a negative net margin of 5.55% and a positive return on equity of 10.27%. During the same quarter in the previous year, the company earned $2.17 EPS. On average, equities research analysts predict that Atkore will post 5.15 earnings per share for the current year.

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Tuesday, August 18th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.32 annualized dividend and a yield of 1.4%. Atkore’s dividend payout ratio is presently -27.44%.

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 300 shares of Atkore stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $93.75, for a total value of $28,125.00. Following the completion of the transaction, the insider directly owned 35,803 shares of the company’s stock, valued at $3,356,531.25. The trade was a 0.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.10% of the stock is owned by company insiders.

Institutional Trading of Atkore

Several hedge funds have recently made changes to their positions in ATKR. Cetera Investment Advisers grew its position in Atkore by 2.8% in the first quarter. Cetera Investment Advisers now owns 5,212 shares of the company’s stock valued at $307,000 after purchasing an additional 143 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Atkore by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 33,067 shares of the company’s stock worth $2,333,000 after buying an additional 214 shares during the last quarter. Adams Wealth Management grew its holdings in shares of Atkore by 0.5% in the 4th quarter. Adams Wealth Management now owns 40,726 shares of the company’s stock valued at $2,576,000 after acquiring an additional 220 shares in the last quarter. Osaic Holdings Inc. increased its position in shares of Atkore by 15.4% in the second quarter. Osaic Holdings Inc. now owns 1,794 shares of the company’s stock valued at $127,000 after acquiring an additional 240 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in Atkore by 61.8% during the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company’s stock worth $39,000 after acquiring an additional 246 shares in the last quarter.

About Atkore

Atkore International Group Inc (NYSE: ATKR) is a diversified global manufacturer of electrical raceway and mechanical products, serving a broad range of end markets including commercial construction, industrial facilities and energy infrastructure. The company’s electrical product portfolio encompasses conduit, tubing, fittings, connectors and cable management systems designed for use in residential, commercial and industrial wiring applications. On the mechanical side, Atkore offers pipe support solutions, seismic bracing, HVAC hangers and other mechanical products that address critical building and process piping needs.

Founded as a family-owned business before its reorganization into a standalone public company in 2016, Atkore has grown through both organic investment and targeted acquisitions.