Analysts Set Atkore Inc. (NYSE:ATKR) Price Target at $103.17

Atkore Inc. (NYSE:ATKR) has received a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $81.17.

A number of analysts have issued reports on ATKR shares. Roth Capital raised Atkore to a “strong-buy” rating in a research note on Monday, December 16th. Loop Capital cut shares of Atkore from a “buy” rating to a “hold” rating and decreased their target price for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. KeyCorp lowered their target price on shares of Atkore from $80.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Citigroup cut their price target on shares of Atkore from $78.00 to $66.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Roth Mkm initiated coverage on shares of Atkore in a research note on Tuesday, December 17th. They set a “buy” rating and a $100.00 price objective for the company.

Insider Buying and Selling at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 33,760 shares of the company’s stock, valued at $2,194,400. This trade represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.99% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Atkore

A number of large investors have recently added to or reduced their stakes in the company. Verition Fund Management LLC grew its stake in shares of Atkore by 235.6% during the third quarter. Verition Fund Management LLC now owns 11,036 shares of the company’s stock valued at $935,000 after acquiring an additional 7,748 shares in the last quarter. Quarry LP boosted its stake in Atkore by 48.8% during the 3rd quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after acquiring an additional 208 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Atkore in the third quarter worth about $357,000. Wellington Management Group LLP acquired a new position in shares of Atkore in the 3rd quarter worth approximately $7,916,000. Finally, EP Wealth Advisors LLC acquired a new position in Atkore in the third quarter worth $601,000.

Atkore Stock Performance

NYSE:ATKR opened at $58.01 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96. The firm has a market cap of $2.01 billion, a PE ratio of 5.62 and a beta of 2.02. The firm has a 50 day simple moving average of $63.00 and a 200-day simple moving average of $78.26. Atkore has a 1-year low of $49.92 and a 1-year high of $185.42.

Atkore (NYSE:ATKR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $680.77 million. During the same period in the previous year, the firm posted $4.12 EPS. Atkore’s revenue was down 17.1% on a year-over-year basis. On average, equities analysts expect that Atkore will post 5.79 EPS for the current year.

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a yield of 2.21%. Atkore’s dividend payout ratio (DPR) 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.