Atkore Inc. (NYSE:ATKR) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Atkore Inc. (NYSE:ATKR) have received an average rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $103.17.

A number of analysts recently commented on the stock. Loop Capital cut shares of Atkore from a “buy” rating to a “hold” rating and dropped their price target for the company from $115.00 to $65.00 in a research note on Monday, February 10th. Roth Mkm assumed coverage on shares of Atkore in a research note on Tuesday, December 17th. They set a “buy” rating and a $100.00 price target on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 price target (up from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. B. Riley cut shares of 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, Roth Capital raised shares of Atkore to a “strong-buy” rating in a report on Monday, December 16th.

Insider Buying and Selling

In other news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $65.00, for a total value of $32,500.00. Following the transaction, the insider now owns 33,760 shares of the company’s stock, valued at approximately $2,194,400. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.99% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Atkore

Several institutional investors have recently bought and sold shares of ATKR. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Atkore in the fourth quarter valued at $10,207,000. Jefferies Financial Group Inc. purchased a new stake in shares of Atkore in the fourth quarter valued at $581,000. Mackenzie Financial Corp raised its stake in shares of Atkore by 143.1% in the fourth quarter. Mackenzie Financial Corp now owns 5,938 shares of the company’s stock valued at $496,000 after acquiring an additional 3,495 shares during the period. Vise Technologies Inc. purchased a new stake in shares of Atkore in the fourth quarter valued at $207,000. Finally, CSS LLC IL raised its stake in shares of Atkore by 14.6% in the fourth quarter. CSS LLC IL now owns 4,129 shares of the company’s stock valued at $345,000 after acquiring an additional 526 shares during the period.

Atkore Trading Down 1.7 %

ATKR opened at $62.67 on Friday. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. The company has a fifty day moving average price of $73.67 and a two-hundred day moving average price of $82.94. The company has a market cap of $2.18 billion, a P/E ratio of 6.07 and a beta of 2.22. Atkore has a 1-year low of $55.91 and a 1-year high of $194.98.

Atkore (NYSE:ATKR) last issued its quarterly earnings data 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 net margin of 12.42% and a return on equity of 25.69%. The business had revenue of $661.60 million during the quarter, compared to the consensus estimate of $680.77 million. During the same period in the prior year, the firm posted $4.12 EPS. The firm’s quarterly revenue was down 17.1% compared to the same quarter last year. Analysts predict that Atkore will post 5.79 EPS for the current fiscal year.

Atkore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date was Tuesday, February 18th. Atkore’s payout ratio is 12.39%.

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.