Atkore Inc. (NYSE:ATKR) Receives $117.00 Consensus Price Target from Analysts

Atkore Inc. (NYSE:ATKR) has been given an average rating of “Hold” by the five brokerages that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $118.80.

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 price objective (up previously from $93.00) on shares of Atkore in a research note on Wednesday. B. Riley cut shares of Atkore from a “buy” rating to a “neutral” rating and cut their price target for the stock from $135.00 to $84.00 in a research note on Friday, November 22nd. Loop Capital decreased their price objective on Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Finally, KeyCorp dropped their target price on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, September 13th.

Insider Transactions at Atkore

In other Atkore news, Director Jeri L. Isbell sold 3,353 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total value of $315,282.59. Following the completion of the transaction, the director now directly owns 25,585 shares of the company’s stock, valued at approximately $2,405,757.55. The trade was a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark F. Lamps sold 500 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 27,626 shares in the company, valued at $2,667,290.30. This trade represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,924 shares of company stock valued at $1,614,975 in the last three months. 2.56% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Atkore

Several large investors have recently made changes to their positions in the company. Hodges Capital Management Inc. bought a new stake in Atkore during the 2nd quarter worth about $4,158,000. Boston Trust Walden Corp acquired a new stake in Atkore during the 2nd quarter worth $23,306,000. Maverick Capital Ltd. raised its position in shares of Atkore by 386.9% during the 2nd quarter. Maverick Capital Ltd. now owns 9,709 shares of the company’s stock valued at $1,310,000 after acquiring an additional 7,715 shares during the last quarter. Chase Investment Counsel Corp lifted its stake in shares of Atkore by 97.0% in the 3rd quarter. Chase Investment Counsel Corp now owns 13,000 shares of the company’s stock valued at $1,101,000 after purchasing an additional 6,400 shares during the period. Finally, Panagora Asset Management Inc. bought a new position in shares of Atkore in the 2nd quarter worth $3,095,000.

Atkore Stock Down 1.0 %

Shares of ATKR opened at $89.00 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.96 and a current ratio of 2.98. The company has a 50-day simple moving average of $89.20 and a 200-day simple moving average of $108.96. Atkore has a 52 week low of $76.01 and a 52 week high of $194.98. The firm has a market capitalization of $3.11 billion, a P/E ratio of 7.05 and a beta of 2.10.

Atkore (NYSE:ATKR) last posted its quarterly earnings results on Thursday, November 21st. The company reported $2.02 EPS for the quarter, missing the consensus estimate of $2.08 by ($0.06). The firm had revenue of $788.30 million during the quarter, compared to analyst estimates of $749.49 million. Atkore had a net margin of 14.77% and a return on equity of 32.14%. The company’s revenue was down 9.4% on a year-over-year basis. During the same period last year, the company earned $3.63 EPS. On average, equities research analysts expect that Atkore will post 6.69 earnings per share for the current year.

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, December 6th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Friday, December 6th. Atkore’s dividend payout ratio (DPR) is currently 10.13%.

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.