Royal Bank of Canada Lowers Atkore (NYSE:ATKR) Price Target to $93.00

Atkore (NYSE:ATKR) had its price target lowered by analysts at Royal Bank of Canada from $99.00 to $93.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 3.69% from the company’s previous close.

Several other brokerages have also weighed in on ATKR. Loop Capital lowered their price objective on Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday. B. Riley downgraded Atkore from a “buy” rating to a “neutral” rating and lowered their price target for the company from $135.00 to $84.00 in a report on Friday. Finally, KeyCorp reduced their price objective on Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Atkore presently has a consensus rating of “Hold” and an average target price of $117.00.

Atkore Trading Up 5.3 %

NYSE ATKR opened at $89.69 on Friday. The company has a market capitalization 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 current ratio of 3.26 and a quick ratio of 2.03. Atkore has a 12 month low of $76.01 and a 12 month high of $194.98. The company’s fifty day moving average price is $87.80 and its two-hundred day moving average price is $113.33.

Insider Activity at Atkore

In related news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $96.55, for a total transaction of $48,275.00. Following the sale, the insider now directly owns 27,626 shares in the company, valued at $2,667,290.30. The trade was a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.56% of the stock is owned by insiders.

Institutional Trading of Atkore

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Boston Partners increased its stake in shares of Atkore by 12.0% during the first quarter. Boston Partners now owns 1,340,146 shares of the company’s stock valued at $254,733,000 after acquiring an additional 143,121 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Atkore by 26.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company’s stock valued at $104,599,000 after purchasing an additional 261,234 shares in the last quarter. American Century Companies Inc. increased its position in shares of Atkore by 22.9% during the 2nd quarter. American Century Companies Inc. now owns 773,697 shares of the company’s stock valued at $104,395,000 after purchasing an additional 144,283 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Atkore by 1.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 449,323 shares of the company’s stock worth $85,535,000 after buying an additional 4,852 shares in the last quarter. Finally, Royce & Associates LP lifted its holdings in shares of Atkore by 20.2% in the third quarter. Royce & Associates LP now owns 396,054 shares of the company’s stock valued at $33,562,000 after buying an additional 66,533 shares during the period.

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.