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

Shares of Atkore Inc. (NYSE:ATKR) have received an average rating of “Hold” from the seven ratings firms that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $79.5714.

Several equities analysts have recently commented on ATKR shares. Wall Street Zen upgraded Atkore from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Royal Bank Of Canada upped their price target on Atkore from $65.00 to $70.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 7th. Citigroup reissued a “neutral” rating and set a $80.00 price target (up from $70.00) on shares of Atkore in a research report on Monday, June 9th. Roth Capital set a $78.00 price target on Atkore and gave the company a “buy” rating in a research report on Wednesday, May 7th. Finally, KeyCorp reissued a “sector weight” rating on shares of Atkore in a research report on Wednesday, August 6th.

Institutional Investors Weigh In On Atkore

Large investors have recently added to or reduced their stakes in the stock. Dogwood Wealth Management LLC acquired a new stake in Atkore in the second quarter worth $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Atkore in the second quarter worth $28,000. Harbor Capital Advisors Inc. increased its position in Atkore by 97.0% in the first quarter. Harbor Capital Advisors Inc. now owns 526 shares of the company’s stock worth $32,000 after buying an additional 259 shares during the period. GAMMA Investing LLC increased its position in Atkore by 1,514.7% in the first quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock worth $33,000 after buying an additional 515 shares during the period. Finally, Strs Ohio acquired a new stake in Atkore in the first quarter worth $36,000.

Atkore Stock Performance

Atkore stock opened at $57.89 on Monday. The stock has a market cap of $1.95 billion, a P/E ratio of 18.55 and a beta of 2.10. The company has a current ratio of 3.09, a quick ratio of 2.08 and a debt-to-equity ratio of 0.52. The stock has a 50 day moving average of $69.91 and a 200-day moving average of $66.32. Atkore has a 52 week low of $49.92 and a 52 week high of $105.28.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Tuesday, August 19th will be given a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $1.32 annualized dividend and a yield of 2.3%. Atkore’s dividend payout ratio (DPR) is currently 42.31%.

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.