Atkore Inc. (NYSE:ATKR) Given Average Rating of “Moderate Buy” by Brokerages

Atkore Inc. (NYSE:ATKR) has received a consensus rating of “Moderate Buy” from the four brokerages that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $132.00.

A number of equities research analysts have recently commented 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 company from $175.00 to $100.00 in a research report on Wednesday, August 7th. B. Riley decreased their price target on Atkore from $183.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. KeyCorp dropped their price objective on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Finally, Loop Capital cut their price objective on shares of Atkore from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Friday.

Insider Transactions at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $95.47, for a total value of $47,735.00. Following the transaction, the insider now owns 28,086 shares in the company, valued at $2,681,370.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.56% of the company’s stock.

Institutional Trading of Atkore

Several large investors have recently added to or reduced their stakes in ATKR. Arizona State Retirement System grew its stake in shares of Atkore by 0.8% in the second quarter. Arizona State Retirement System now owns 10,294 shares of the company’s stock valued at $1,389,000 after buying an additional 85 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in shares of Atkore by 2.0% in the second quarter. SummerHaven Investment Management LLC now owns 4,944 shares of the company’s stock valued at $667,000 after purchasing an additional 99 shares during the period. Opinicus Capital Inc. grew its holdings in Atkore by 3.8% during the 1st quarter. Opinicus Capital Inc. now owns 3,263 shares of the company’s stock valued at $621,000 after purchasing an additional 118 shares in the last quarter. Meixler Investment Management Ltd. grew its holdings in Atkore by 6.5% during the 2nd quarter. Meixler Investment Management Ltd. now owns 1,947 shares of the company’s stock valued at $263,000 after purchasing an additional 119 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in Atkore by 3.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 4,115 shares of the company’s stock worth $555,000 after buying an additional 129 shares during the period.

Atkore Price Performance

Shares of NYSE:ATKR traded up $0.15 on Friday, hitting $89.31. The company had a trading volume of 79,166 shares, compared to its average volume of 620,286. 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 company has a market cap of $3.25 billion, a PE ratio of 5.57 and a beta of 2.15. Atkore has a 52-week low of $80.11 and a 52-week high of $194.98. The business has a 50 day moving average of $107.54 and a 200 day moving average of $142.04.

Atkore (NYSE:ATKR) last released its earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.28. Atkore had a net margin of 16.47% and a return on equity of 36.96%. The company had revenue of $822.40 million for the quarter, compared to analyst estimates of $830.16 million. During the same period in the prior year, the firm earned $5.13 EPS. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. As a group, equities analysts anticipate that Atkore will post 12.69 earnings per share for the current fiscal year.

Atkore Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Tuesday, August 20th. Atkore’s dividend payout ratio (DPR) is presently 7.98%.

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.