Atkore (NYSE:ATKR) Research Coverage Started at KeyCorp

Equities research analysts at KeyCorp initiated coverage on shares of Atkore (NYSE:ATKR) in a research report issued on Wednesday, MarketBeat Ratings reports. The brokerage set an “overweight” rating and a $175.00 price target on the stock. KeyCorp’s target price indicates a potential upside of 23.07% from the stock’s previous close.

ATKR has been the topic of several other research reports. Royal Bank of Canada restated an “outperform” rating and issued a $187.00 price target on shares of Atkore in a research note on Friday, March 22nd. Citigroup cut their price target on Atkore from $200.00 to $188.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Finally, StockNews.com downgraded Atkore from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $184.00.

Atkore Stock Up 1.8 %

Shares of NYSE:ATKR opened at $142.20 on Wednesday. Atkore has a 1 year low of $121.00 and a 1 year high of $194.98. The stock’s 50-day moving average is $145.09 and its 200 day moving average is $157.95. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.09 and a quick ratio of 1.98. The company has a market cap of $5.18 billion, a PE ratio of 8.87 and a beta of 2.15.

Atkore (NYSE:ATKR) last posted its earnings results on Monday, May 6th. The company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.86. The firm had revenue of $792.90 million for the quarter, compared to the consensus estimate of $808.22 million. Atkore had a return on equity of 43.19% and a net margin of 18.30%. The business’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.31 EPS. Sell-side analysts anticipate that Atkore will post 14.93 EPS for the current year.

Insider Activity

In other news, Director Wilbert W. James, Jr. sold 599 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $153.23, for a total transaction of $91,784.77. Following the transaction, the director now directly owns 15,695 shares of the company’s stock, valued at approximately $2,404,944.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $157.67, for a total value of $78,835.00. Following the completion of the sale, the insider now directly owns 28,586 shares in the company, valued at approximately $4,507,154.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wilbert W. James, Jr. sold 599 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $153.23, for a total value of $91,784.77. Following the completion of the sale, the director now owns 15,695 shares of the company’s stock, valued at $2,404,944.85. The disclosure for this sale can be found here. Insiders own 2.56% of the company’s stock.

Institutional Investors Weigh In On Atkore

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cornercap Investment Counsel Inc. increased its stake in Atkore by 1.3% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 5,017 shares of the company’s stock worth $803,000 after buying an additional 63 shares in the last quarter. Ritholtz Wealth Management increased its stake in Atkore by 3.5% in the 4th quarter. Ritholtz Wealth Management now owns 2,042 shares of the company’s stock worth $327,000 after buying an additional 69 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in Atkore by 1.5% in the 4th quarter. SummerHaven Investment Management LLC now owns 4,782 shares of the company’s stock worth $765,000 after buying an additional 69 shares in the last quarter. Riverwater Partners LLC increased its stake in Atkore by 0.6% in the 4th quarter. Riverwater Partners LLC now owns 13,245 shares of the company’s stock worth $2,119,000 after buying an additional 78 shares in the last quarter. Finally, Roman Butler Fullerton & Co. increased its stake in Atkore by 3.2% in the 4th quarter. Roman Butler Fullerton & Co. now owns 2,755 shares of the company’s stock worth $422,000 after buying an additional 85 shares in the last quarter.

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.