Brokerages Set Atkore Inc. (NYSE:ATKR) PT at $115.67

Shares of Atkore Inc. (NYSE:ATKR) have been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $115.67.

Several research firms have recently weighed in on ATKR. Roth Capital upgraded Atkore to a “strong-buy” rating in a report on Monday, December 16th. Roth Mkm began coverage on Atkore in a report on Tuesday, December 17th. They set a “buy” rating and a $100.00 price objective on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $102.00 price objective (up previously from $93.00) on shares of Atkore in a report on Wednesday, December 4th. B. Riley cut Atkore from a “buy” rating to a “neutral” rating and cut their price objective for the company from $135.00 to $84.00 in a report on Friday, November 22nd. Finally, Loop Capital cut 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.

Insider Transactions at Atkore

In related news, Director Jeri L. Isbell sold 3,353 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $94.03, for a total transaction of $315,282.59. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $96.55, for a total value of $48,275.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 16,924 shares of company stock worth $1,614,975 in the last 90 days. Corporate insiders own 1.99% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Signaturefd LLC grew its holdings in Atkore by 445.6% in the 3rd quarter. Signaturefd LLC now owns 491 shares of the company’s stock valued at $42,000 after buying an additional 401 shares in the last quarter. Quarry LP grew its holdings in Atkore by 48.8% in the 3rd quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after buying an additional 208 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Atkore by 30.2% in the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock valued at $70,000 after buying an additional 195 shares in the last quarter. Covestor Ltd grew its holdings in Atkore by 63.7% in the 3rd quarter. Covestor Ltd now owns 1,002 shares of the company’s stock valued at $85,000 after buying an additional 390 shares in the last quarter. Finally, KBC Group NV grew its holdings in Atkore by 47.7% in the 4th quarter. KBC Group NV now owns 1,452 shares of the company’s stock valued at $121,000 after buying an additional 469 shares in the last quarter.

Atkore Trading Down 2.1 %

NYSE:ATKR opened at $84.82 on Thursday. The stock’s 50 day moving average price is $86.53 and its 200 day moving average price is $95.06. 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 market capitalization of $2.95 billion, a P/E ratio of 6.72 and a beta of 2.13. Atkore has a 52 week low of $76.01 and a 52 week high of $194.98.

Atkore (NYSE:ATKR) last posted its earnings results on Thursday, November 21st. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.06). The company had revenue of $788.30 million for the quarter, compared to analyst estimates of $749.49 million. Atkore had a return on equity of 32.14% and a net margin of 14.77%. Atkore’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.63 earnings per share. On average, research analysts forecast that Atkore will post 6.62 EPS for the current fiscal year.

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, December 6th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.51%. The ex-dividend date was Friday, December 6th. Atkore’s payout ratio is 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.