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

Atkore Inc. (NYSE:ATKR) has been given a consensus recommendation of “Moderate Buy” by the seven research firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $115.67.

A number of analysts recently issued reports on the stock. Loop Capital decreased their price objective on shares of Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 price target (up previously from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Roth Capital upgraded Atkore to a “strong-buy” rating in a research note on Monday, December 16th. KeyCorp decreased their target price on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Finally, Roth Mkm assumed coverage on Atkore in a research report on Tuesday, December 17th. They set a “buy” rating and a $100.00 price target on the stock.

Atkore Price Performance

Shares of NYSE ATKR opened at $83.44 on Friday. The company has a quick ratio of 1.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $2.90 billion, a PE ratio of 6.61 and a beta of 2.13. The stock’s 50 day moving average price is $88.61 and its 200-day moving average price is $100.31. Atkore has a twelve month low of $76.01 and a twelve month high of $194.98.

Atkore (NYSE:ATKR) last announced its quarterly earnings data 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 business had revenue of $788.30 million during the quarter, compared to the consensus estimate of $749.49 million. Atkore had a net margin of 14.77% and a return on equity of 32.14%. The firm’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.63 EPS. On average, equities analysts anticipate that Atkore will post 6.69 EPS for the current year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, December 6th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Friday, December 6th. Atkore’s payout ratio is currently 10.13%.

Insider Activity

In other news, Director Jeri L. Isbell sold 3,353 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total transaction of $315,282.59. Following the completion of the transaction, the director now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark F. Lamps sold 500 shares of the stock in a transaction on 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 sale, the insider now owns 27,626 shares in the company, valued at $2,667,290.30. This trade represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,924 shares of company stock worth $1,614,975. 1.99% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Atkore

A number of institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its holdings in shares of Atkore by 26.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company’s stock worth $104,599,000 after purchasing an additional 261,234 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Atkore by 22.9% in the 2nd quarter. American Century Companies Inc. now owns 773,697 shares of the company’s stock worth $104,395,000 after buying an additional 144,283 shares during the last quarter. Royce & Associates LP raised its position in shares of Atkore by 20.2% during the 3rd quarter. Royce & Associates LP now owns 396,054 shares of the company’s stock valued at $33,562,000 after buying an additional 66,533 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Atkore by 5.4% during the 2nd quarter. William Blair Investment Management LLC now owns 395,388 shares of the company’s stock worth $53,350,000 after acquiring an additional 20,229 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Atkore by 23.5% in the second quarter. Principal Financial Group Inc. now owns 336,835 shares of the company’s stock worth $45,449,000 after acquiring an additional 64,050 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.