Atkore Inc. (NYSE:ATKR) Given Average Recommendation of “Hold” by Analysts

Shares of Atkore Inc. (NYSE:ATKR) have been assigned a consensus rating of “Hold” from the six analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $143.3333.

ATKR has been the subject of a number of analyst reports. Wall Street Zen upgraded Atkore from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Roth Capital cut Atkore from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $85.00 to $92.00 in a research note on Tuesday, August 4th. Weiss Ratings raised Atkore from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 12th. Finally, Royal Bank Of Canada set a $76.00 target price on shares of Atkore in a report on Thursday, July 16th.

Insider Activity at Atkore

In related news, insider Mark Lamps sold 300 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $93.75, for a total transaction of $28,125.00. Following the completion of the sale, the insider owned 35,803 shares of the company’s stock, valued at $3,356,531.25. This represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Atkore

Several institutional investors and hedge funds have recently bought and sold shares of ATKR. Tidal Investments LLC increased its position in shares of Atkore by 61.8% during the second quarter. Tidal Investments LLC now owns 51,660 shares of the company’s stock worth $3,928,000 after purchasing an additional 19,729 shares in the last quarter. Engineers Gate Manager LP boosted its position in shares of Atkore by 723.5% in the 2nd quarter. Engineers Gate Manager LP now owns 57,071 shares of the company’s stock worth $4,340,000 after purchasing an additional 50,141 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Atkore during the 2nd quarter worth $31,000. Squarepoint Ops LLC purchased a new position in Atkore during the 2nd quarter worth $1,008,000. Finally, Nykredit A S acquired a new position in Atkore during the 2nd quarter valued at about $81,000.

Atkore Trading Down 0.0%

NYSE:ATKR opened at $94.11 on Tuesday. The firm has a 50-day simple moving average of $85.84 and a 200-day simple moving average of $76.24. Atkore has a one year low of $53.75 and a one year high of $94.39. The firm has a market cap of $3.18 billion, a P/E ratio of -19.56 and a beta of 1.68. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.04 and a current ratio of 2.73.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Monday, August 3rd. The company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.39. The firm had revenue of $794.80 million for the quarter, compared to the consensus estimate of $756.23 million. Atkore had a negative net margin of 5.55% and a positive return on equity of 10.27%. During the same period last year, the firm earned $2.17 earnings per share. Equities analysts anticipate that Atkore will post 5.15 EPS for the current fiscal year.

Atkore Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Tuesday, August 18th were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.4%. Atkore’s payout ratio is presently -27.44%.

About Atkore

Atkore Inc (NYSE: ATKR) manufactures electrical, safety and infrastructure products for commercial, industrial, data center, utility, transportation and other construction markets. Its portfolio is designed to support the distribution, management and protection of electrical power and communications systems.

The company’s products include electrical conduit and fittings, cable management systems, wire and cable, metal framing, mechanical pipe, fire sprinkler pipe and related infrastructure components.