KeyCorp Has Lowered Expectations for Atkore (NYSE:ATKR) Stock Price

Atkore (NYSE:ATKR) had its price objective decreased by equities research analysts at KeyCorp from $105.00 to $80.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s target price indicates a potential upside of 22.20% from the company’s current price.

ATKR has been the subject of a number of other reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 target price (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Roth Capital raised shares of Atkore to a “strong-buy” rating in a research note on Monday, December 16th. Roth Mkm started coverage on Atkore in a research report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target for the company. B. Riley cut Atkore from a “buy” rating to a “neutral” rating and cut their price target for the company from $135.00 to $84.00 in a report on Friday, November 22nd. Finally, Loop Capital lowered their price objective on Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $111.50.

Atkore Stock Down 0.2 %

ATKR opened at $65.47 on Wednesday. The company has a market cap of $2.27 billion, a PE ratio of 5.18 and a beta of 2.12. Atkore has a twelve month low of $62.62 and a twelve month high of $194.98. The company has a 50-day moving average price of $84.60 and a 200 day moving average price of $91.32. The company has a quick ratio of 1.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.50.

Atkore (NYSE:ATKR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. Atkore had a return on equity of 32.14% and a net margin of 14.77%. The firm had revenue of $661.60 million for the quarter, compared to analyst estimates of $680.77 million. During the same period in the previous year, the company posted $4.12 earnings per share. The business’s revenue was down 17.1% on a year-over-year basis. Sell-side analysts expect that Atkore will post 6.62 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jeri L. Isbell sold 3,353 shares of Atkore stock in a transaction that occurred on 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 owns 25,585 shares in the company, 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 SEC, which is accessible through this hyperlink. Also, insider Mark F. Lamps sold 500 shares of the company’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 transaction of $48,275.00. Following the sale, the insider now directly owns 27,626 shares in the company, valued at approximately $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. In the last three months, insiders have sold 16,924 shares of company stock valued at $1,614,975. Company insiders own 1.99% of the company’s stock.

Institutional Trading of Atkore

A number of large investors have recently modified their holdings of ATKR. Lakewood Asset Management LLC increased its position in shares of Atkore by 1.4% in the 4th quarter. Lakewood Asset Management LLC now owns 9,057 shares of the company’s stock valued at $756,000 after purchasing an additional 126 shares during the last quarter. Willis Investment Counsel increased its holdings in Atkore by 3.3% in the fourth quarter. Willis Investment Counsel now owns 5,350 shares of the company’s stock valued at $446,000 after buying an additional 171 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Atkore by 87.7% in the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock valued at $33,000 after buying an additional 186 shares during the last quarter. Cornercap Investment Counsel Inc. raised its stake in Atkore by 3.9% in the third quarter. Cornercap Investment Counsel Inc. now owns 5,090 shares of the company’s stock valued at $431,000 after buying an additional 189 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in Atkore by 30.2% during the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock worth $70,000 after buying an additional 195 shares during the last quarter.

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.