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

Atkore (NYSE:ATKR) had its price objective decreased by analysts at Loop Capital from $130.00 to $115.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Loop Capital’s price objective would indicate a potential upside of 28.22% from the company’s current price.

ATKR has been the topic of several other reports. KeyCorp decreased their price objective on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Royal Bank of Canada cut Atkore from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $175.00 to $100.00 in a report on Wednesday, August 7th. Finally, B. Riley lowered Atkore from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $135.00 to $84.00 in a research note on Friday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $117.00.

Atkore Stock Up 5.3 %

ATKR opened at $89.69 on Friday. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 7.08 and a beta of 2.13. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.03 and a current ratio of 3.26. The firm’s 50-day simple moving average is $87.80 and its 200-day simple moving average is $113.33. Atkore has a twelve month low of $76.01 and a twelve month high of $194.98.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction on Monday, November 11th. The shares were 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 owns 27,626 shares in the company, valued at approximately $2,667,290.30. The trade was a 1.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.56% of the company’s stock.

Hedge Funds Weigh In On Atkore

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

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.