Atkore Inc. (NYSE:ATKR) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Atkore Inc. (NYSE:ATKR) have earned a consensus rating of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $115.67.

A number of equities analysts recently issued reports on ATKR shares. B. Riley lowered Atkore from a “buy” rating to a “neutral” rating and reduced their target price for the stock 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 note on Monday, December 16th. Royal Bank of Canada reiterated a “sector perform” rating and set a $102.00 price objective (up previously from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Roth Mkm assumed coverage on Atkore in a research note on Tuesday, December 17th. They set a “buy” rating and a $100.00 price objective for the company. Finally, Loop Capital reduced their price objective on Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, November 22nd.

Atkore Stock Performance

Shares of ATKR stock opened at $80.62 on Thursday. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 6.38 and a beta of 2.13. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.98 and a quick ratio of 1.96. The business has a fifty day moving average of $86.31 and a 200 day moving average of $93.89. Atkore has a 1 year low of $76.01 and a 1 year high of $194.98.

Atkore (NYSE:ATKR) last issued its earnings results on Thursday, November 21st. The company reported $2.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.06). The firm had revenue of $788.30 million during the quarter, compared to analysts’ expectations of $749.49 million. Atkore had a return on equity of 32.14% and a net margin of 14.77%. The business’s revenue was down 9.4% on a year-over-year basis. During the same quarter last year, the business earned $3.63 EPS. As a group, research analysts expect that Atkore will post 6.62 earnings per share for the current year.

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, December 6th were paid a $0.32 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.28 annualized dividend and a dividend yield of 1.59%. Atkore’s dividend payout ratio is presently 10.13%.

Insider Activity at Atkore

In related news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $96.55, for a total value of $48,275.00. Following the completion of the transaction, the insider now owns 27,626 shares in the company, valued at $2,667,290.30. The trade was a 1.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeri L. Isbell sold 3,353 shares of Atkore stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $94.03, for a total value of $315,282.59. Following the completion of the sale, the director now owns 25,585 shares in the company, valued at approximately $2,405,757.55. The trade was a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,924 shares of company stock worth $1,614,975 in the last 90 days. Corporate insiders own 1.99% of the company’s stock.

Institutional Investors Weigh In On Atkore

Institutional investors have recently bought and sold shares of the company. Signaturefd LLC boosted its holdings in Atkore by 445.6% in the 3rd quarter. Signaturefd LLC now owns 491 shares of the company’s stock worth $42,000 after buying an additional 401 shares during the last quarter. Quarry LP boosted its holdings in Atkore by 48.8% in the 3rd quarter. Quarry LP now owns 634 shares of the company’s stock worth $54,000 after buying an additional 208 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Atkore by 30.2% in the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock worth $70,000 after buying an additional 195 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Atkore by 63.7% during the 3rd quarter. Covestor Ltd now owns 1,002 shares of the company’s stock worth $85,000 after purchasing an additional 390 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of Atkore by 47.7% during the 4th quarter. KBC Group NV now owns 1,452 shares of the company’s stock worth $121,000 after purchasing an additional 469 shares during 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.