Atkore Inc. (ATKR) – What Are Researchers Saying About This Stock?

Shares of Atkore Inc. (NYSE:ATKR) have been given an average recommendation of “Hold” by the six research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $143.33.

A number of brokerages recently issued reports on ATKR. Weiss Ratings upgraded Atkore from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 12th. Royal Bank Of Canada set a $76.00 target price on Atkore in a report on Thursday, July 16th. Wall Street Zen upgraded Atkore from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Finally, Roth Capital downgraded shares of Atkore from a “buy” rating to a “neutral” rating and increased their price target for the stock from $85.00 to $92.00 in a report on Tuesday, August 4th.

Atkore Stock Up 0.0%

Shares of Atkore stock opened at $94.89 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.73 and a debt-to-equity ratio of 0.59. The company has a market cap of $3.20 billion, a P/E ratio of -19.73 and a beta of 1.69. The firm’s 50 day moving average price is $94.17 and its 200-day moving average price is $81.57. Atkore has a 52-week low of $53.75 and a 52-week high of $94.93.

Atkore (NYSE:ATKR) last announced its earnings results on Tuesday, August 4th. The company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.39. Atkore had a positive return on equity of 10.27% and a negative net margin of 5.55%. The firm had revenue of $794.80 million for the quarter, compared to the consensus estimate of $756.23 million. During the same period in the previous year, the business earned $2.17 EPS. On average, sell-side analysts predict that Atkore will post 5.15 EPS for the current fiscal year.

Atkore Dividend Announcement

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

Insider Activity

In related news, insider Mark Lamps sold 300 shares of the company’s 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 owned 35,803 shares of the company’s stock, valued at approximately $3,356,531.25. This represents a 0.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Atkore

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Atkore in the 2nd quarter worth approximately $236,958,000. Dimensional Fund Advisors LP raised its holdings in Atkore by 8.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,227,991 shares of the company’s stock worth $72,341,000 after purchasing an additional 97,514 shares during the last quarter. Hill City Capital LP acquired a new position in Atkore during the second quarter worth $55,061,000. Irenic Capital Management LP boosted its position in Atkore by 3,531.8% during the second quarter. Irenic Capital Management LP now owns 507,613 shares of the company’s stock worth $38,599,000 after purchasing an additional 493,636 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Atkore by 10.1% during the first quarter. Bank of America Corp DE now owns 462,278 shares of the company’s stock worth $27,233,000 after purchasing an additional 42,593 shares in the last quarter.

About Atkore

Atkore Inc is a manufacturer of electrical, safety and infrastructure products for the construction, industrial and commercial markets. The company supplies systems and components used to manage, protect and route electrical wiring and cable, as well as products that support structural and safety applications.

Its product portfolio includes electrical raceway systems, conduit, fittings, cable management products, wire and cable, mechanical tubing, framing systems, and related safety and infrastructure solutions.