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

Atkore (NYSE:ATKR) had its price target reduced by equities research analysts at Citigroup from $78.00 to $66.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential upside of 13.77% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Loop Capital cut Atkore from a “buy” rating to a “hold” rating and dropped their price objective for the company from $115.00 to $65.00 in a report on Monday, February 10th. Roth Mkm began coverage on shares of Atkore in a research note on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price objective for the company. KeyCorp lowered their price target on shares of Atkore from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Finally, Roth Capital upgraded Atkore to a “strong-buy” rating in a research note on Monday, December 16th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Atkore has a consensus rating of “Moderate Buy” and a consensus target price of $81.17.

Atkore Stock Performance

Shares of NYSE ATKR remained flat at $58.01 during trading hours on Monday. The stock had a trading volume of 361,463 shares, compared to its average volume of 697,848. The firm’s 50 day moving average is $63.15 and its 200 day moving average is $78.46. Atkore has a 52-week low of $49.92 and a 52-week high of $185.42. The company has a market capitalization of $2.01 billion, a PE ratio of 5.62 and a beta of 2.02. 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 (NYSE:ATKR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 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 previous year, the company earned $4.12 EPS. The firm’s revenue for the quarter was down 17.1% compared to the same quarter last year. Equities analysts anticipate that Atkore will post 5.79 EPS for the current year.

Insiders Place Their Bets

In other news, insider Mark F. Lamps sold 500 shares of the company’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 completion of the transaction, the insider now owns 33,760 shares in the company, valued at approximately $2,194,400. This represents a 1.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.99% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ATKR. Lakewood Asset Management LLC lifted its holdings in Atkore by 1.4% in the fourth quarter. Lakewood Asset Management LLC now owns 9,057 shares of the company’s stock valued at $756,000 after acquiring an additional 126 shares during the period. Van Den Berg Management I Inc. boosted its holdings in shares of Atkore by 0.4% in the 4th quarter. Van Den Berg Management I Inc. now owns 41,041 shares of the company’s stock valued at $3,425,000 after purchasing an additional 158 shares during the last quarter. Isthmus Partners LLC grew its holdings in shares of Atkore by 0.8% during the 4th quarter. Isthmus Partners LLC now owns 21,441 shares of the company’s stock worth $1,789,000 after purchasing an additional 162 shares during the period. Xponance Inc. increased its holdings in Atkore by 6.9% in the 4th quarter. Xponance Inc. now owns 2,569 shares of the company’s stock valued at $214,000 after purchasing an additional 166 shares in the last quarter. Finally, Willis Investment Counsel lifted its position in shares of Atkore by 3.3% during the fourth quarter. Willis Investment Counsel now owns 5,350 shares of the company’s stock worth $446,000 after purchasing an additional 171 shares in 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.