Atkore (NYSE:ATKR) Lowered to “Hold” Rating by Loop Capital

Loop Capital cut shares of Atkore (NYSE:ATKR) from a buy rating to a hold rating in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage currently has $65.00 price target on the stock, down from their previous price target of $115.00.

ATKR has been the subject of several other reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $102.00 target price (up from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Roth Mkm started coverage on Atkore in a research report on Tuesday, December 17th. They set a “buy” rating and a $100.00 price objective for the company. Roth Capital raised Atkore to a “strong-buy” rating in a report on Monday, December 16th. B. Riley lowered Atkore from a “buy” rating to a “neutral” rating and dropped their price target for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. Finally, KeyCorp reduced their price objective on Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Atkore has a consensus rating of “Moderate Buy” and a consensus target price of $103.17.

Atkore Price Performance

Shares of Atkore stock opened at $69.38 on Monday. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 6.72 and a beta of 2.12. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51. The stock’s 50-day simple moving average is $83.46 and its 200-day simple moving average is $89.91. Atkore has a 52 week low of $62.62 and a 52 week high of $194.98.

Atkore (NYSE:ATKR) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The company had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $680.77 million. During the same period in the previous year, the firm earned $4.12 EPS. The firm’s revenue was down 17.1% compared to the same quarter last year. As a group, analysts expect that Atkore will post 6.55 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Tuesday, February 18th. Atkore’s dividend payout ratio (DPR) is 12.39%.

Insider Activity at Atkore

In other news, Director Jeri L. Isbell sold 3,353 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total transaction of $315,282.59. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $65.00, for a total transaction of $32,500.00. Following the completion of the transaction, the insider now directly owns 33,760 shares in the company, valued at $2,194,400. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,924 shares of company stock worth $1,599,200. Company insiders own 1.99% of the company’s stock.

Institutional Trading of Atkore

Several institutional investors and hedge funds have recently modified their holdings of ATKR. Cibc World Markets Corp purchased a new position in Atkore during the 4th quarter worth $280,000. Harbour Investments Inc. raised its holdings in shares of Atkore by 3,333.3% in the fourth quarter. Harbour Investments Inc. now owns 1,030 shares of the company’s stock valued at $86,000 after acquiring an additional 1,000 shares in the last quarter. Royce & Associates LP increased its position in Atkore by 4.2% during the 4th quarter. Royce & Associates LP now owns 412,752 shares of the company’s stock valued at $34,444,000 after purchasing an additional 16,698 shares during the period. one8zero8 LLC bought a new stake in shares of Atkore in the 4th quarter valued at about $461,000. Finally, Thompson Siegel & Walmsley LLC purchased a new stake in shares of Atkore in the 4th quarter worth approximately $5,281,000.

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.