Atkore (NYSE:ATKR) Rating Lowered to “Neutral” at B. Riley

Atkore (NYSE:ATKR) was downgraded by B. Riley from a “buy” rating to a “neutral” rating in a report released on Friday, MarketBeat reports. They currently have a $84.00 target price on the stock, down from their prior target price of $135.00. B. Riley’s price objective would indicate a potential downside of 6.34% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the company. Royal Bank of Canada downgraded Atkore from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $175.00 to $100.00 in a research report on Wednesday, August 7th. Loop Capital lowered their price target on Atkore from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Finally, KeyCorp cut their price objective on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $117.00.

Atkore Price Performance

Shares of NYSE:ATKR opened at $89.69 on Friday. The company has a 50 day moving average of $87.80 and a 200 day moving average of $113.33. The company has a current ratio of 3.26, a quick ratio of 2.03 and a debt-to-equity ratio of 0.49. The stock has a market cap of $3.22 billion, a P/E ratio of 7.08 and a beta of 2.13. Atkore has a 12 month low of $76.01 and a 12 month high of $194.98.

Insider Buying and Selling at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $96.55, for a total transaction of $48,275.00. Following the completion of the sale, the insider now directly owns 27,626 shares in the company, valued at $2,667,290.30. This represents a 1.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.56% of the company’s stock.

Institutional Trading of Atkore

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital World Investors purchased a new stake in shares of Atkore during the first quarter worth about $14,986,000. BOKF NA purchased a new position in shares of Atkore during the first quarter valued at approximately $423,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Atkore by 1.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 449,323 shares of the company’s stock valued at $85,535,000 after acquiring an additional 4,852 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its stake in Atkore by 0.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 167,637 shares of the company’s stock worth $31,911,000 after acquiring an additional 1,141 shares during the period. Finally, Bayesian Capital Management LP bought a new stake in Atkore in the first quarter valued at $411,000.

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.