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

Atkore Inc. (NYSE:ATKR) has been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $103.17.

A number of research analysts recently commented on ATKR shares. B. Riley lowered Atkore from a “buy” rating to a “neutral” rating and cut their target price for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. Roth Capital upgraded Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Roth Mkm assumed coverage on Atkore in a research note on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price objective on the stock. KeyCorp cut their price target on Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, Loop Capital lowered shares of Atkore from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $115.00 to $65.00 in a report on Monday, February 10th.

Insider Activity

In other news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction on Monday, February 10th. The stock was 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 in the company, valued at approximately $2,194,400. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.99% of the company’s stock.

Institutional Investors Weigh In On Atkore

Several hedge funds have recently modified their holdings of the company. First Trust Advisors LP increased its stake in shares of Atkore by 195.6% in the fourth quarter. First Trust Advisors LP now owns 1,174,464 shares of the company’s stock valued at $98,009,000 after buying an additional 777,113 shares during the period. Gates Capital Management Inc. increased its position in Atkore by 29.6% during the 4th quarter. Gates Capital Management Inc. now owns 2,607,354 shares of the company’s stock valued at $217,584,000 after purchasing an additional 595,774 shares during the period. Wellington Management Group LLP raised its holdings in Atkore by 549.9% during the 4th quarter. Wellington Management Group LLP now owns 607,041 shares of the company’s stock worth $50,658,000 after purchasing an additional 513,631 shares during the last quarter. Norges Bank acquired a new position in shares of Atkore in the 4th quarter worth approximately $42,339,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Atkore by 3,948.4% in the 4th quarter. Victory Capital Management Inc. now owns 470,830 shares of the company’s stock valued at $39,291,000 after purchasing an additional 459,200 shares during the last quarter.

Atkore Price Performance

ATKR opened at $64.03 on Friday. The stock has a fifty day moving average of $71.74 and a 200-day moving average of $81.91. The firm has a market capitalization of $2.22 billion, a P/E ratio of 6.20 and a beta of 2.22. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51. Atkore has a 12-month low of $55.91 and a 12-month 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 firm had revenue of $661.60 million during the quarter, compared to analysts’ expectations of $680.77 million. During the same period in the prior year, the company posted $4.12 earnings per share. Atkore’s revenue for the quarter was down 17.1% on a year-over-year basis. Equities analysts forecast that Atkore will post 5.79 EPS for the current fiscal year.

Atkore Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Tuesday, February 18th. Atkore’s dividend payout ratio (DPR) is currently 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.