Atkore (NYSE:ATKR) Rating Lowered to Hold at Loop Capital

Loop Capital downgraded shares of Atkore (NYSE:ATKR) from a buy rating to a hold rating in a report released on Monday morning, Marketbeat.com reports. The brokerage currently has $65.00 price objective on the stock, down from their prior price objective of $115.00.

Other equities research analysts also recently issued reports about the company. KeyCorp decreased 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. B. Riley downgraded Atkore from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $135.00 to $84.00 in a report on Friday, November 22nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 price objective (up previously from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Roth Capital upgraded Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Finally, Roth Mkm assumed coverage on Atkore in a research report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target for the company. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Atkore has an average rating of “Moderate Buy” and an average price target of $103.17.

Atkore Price Performance

Shares of NYSE ATKR opened at $69.41 on Monday. 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 stock has a fifty day moving average price of $82.51 and a 200 day moving average price of $88.97. Atkore has a 1-year low of $62.62 and a 1-year high of $194.98. The company has a market cap of $2.41 billion, a PE ratio of 6.72 and a beta of 2.12.

Atkore (NYSE:ATKR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, topping 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 firm had revenue of $661.60 million during the quarter, compared to the consensus estimate of $680.77 million. During the same period last year, the company earned $4.12 earnings per share. The company’s revenue for the quarter was down 17.1% on a year-over-year basis. Sell-side analysts forecast that Atkore will post 6.55 EPS for the current year.

Atkore Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Tuesday, February 18th. Atkore’s payout ratio is 12.39%.

Insider Activity at Atkore

In other Atkore news, 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 $2,405,757.55. The trade was a 11.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction dated 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,924 shares of company stock valued at $1,599,200. 1.99% of the stock is owned by insiders.

Institutional Trading of Atkore

A number of institutional investors have recently modified their holdings of the company. Lakewood Asset Management LLC grew its holdings in shares of Atkore by 1.4% during the 4th quarter. Lakewood Asset Management LLC now owns 9,057 shares of the company’s stock worth $756,000 after purchasing an additional 126 shares during the period. 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. grew its holdings in shares of Atkore by 6.9% during the 4th quarter. Xponance Inc. now owns 2,569 shares of the company’s stock worth $214,000 after purchasing an additional 166 shares during the period. Willis Investment Counsel grew its holdings in shares of Atkore by 3.3% during the 4th quarter. Willis Investment Counsel now owns 5,350 shares of the company’s stock worth $446,000 after purchasing an additional 171 shares during the period. Finally, Jones Financial Companies Lllp grew its holdings in shares of Atkore by 87.7% during the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock worth $33,000 after purchasing an additional 186 shares during the period.

About Atkore

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.