Atkore (NYSE:ATKR) Price Target Lowered to $70.00 at KeyCorp

Atkore (NYSE:ATKR) had its price target lowered by analysts at KeyCorp from $80.00 to $70.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price target would suggest a potential upside of 30.79% from the company’s previous close.

A number of other analysts have also recently weighed in on the company. Loop Capital cut Atkore from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. Roth Capital raised shares of Atkore to a “strong-buy” rating in a research note on Monday, December 16th. Finally, Roth Mkm assumed coverage on shares of Atkore in a research note on Tuesday, December 17th. They set a “buy” rating and a $100.00 price objective for the company. Five investment 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $101.50.

Atkore Stock Performance

NYSE:ATKR traded down $0.53 during trading hours on Tuesday, reaching $53.52. The company had a trading volume of 75,150 shares, compared to its average volume of 692,148. Atkore has a 52 week low of $49.92 and a 52 week high of $185.47. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 5.18 and a beta of 2.02. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. The firm’s 50 day moving average price is $65.82 and its 200-day moving average price is $79.64.

Atkore (NYSE:ATKR) last issued its earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.45. The firm had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The business’s revenue was down 17.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.12 earnings per share. On average, analysts forecast that Atkore will post 5.79 EPS for the current year.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $65.00, for a total transaction of $32,500.00. Following the transaction, the insider now directly owns 33,760 shares of the company’s stock, valued at $2,194,400. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.99% of the company’s stock.

Hedge Funds Weigh In On Atkore

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its stake 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 last quarter. Quarry LP increased its holdings in shares of Atkore by 48.8% during the 3rd quarter. Quarry LP now owns 634 shares of the company’s stock worth $54,000 after purchasing an additional 208 shares during the period. Versant Capital Management Inc lifted its position in shares of Atkore by 358.9% in the 1st quarter. Versant Capital Management Inc now owns 693 shares of the company’s stock worth $42,000 after acquiring an additional 542 shares during the period. Pacer Advisors Inc. boosted its stake in Atkore by 30.2% during the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock worth $70,000 after buying an additional 195 shares in the last quarter. Finally, Harbour Investments Inc. increased its stake in Atkore by 3,333.3% in the fourth quarter. Harbour Investments Inc. now owns 1,030 shares of the company’s stock valued at $86,000 after acquiring an additional 1,000 shares during the period.

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.