Atkore (NYSE:ATKR) Price Target Lowered to $130.00 at Loop Capital

Atkore (NYSE:ATKR) had its target price reduced by Loop Capital from $160.00 to $130.00 in a research note released on Friday, Benzinga reports. Loop Capital currently has a buy rating on the stock.

A number of other equities research analysts have also commented on ATKR. KeyCorp decreased their price objective on shares of Atkore from $125.00 to $105.00 and set an overweight rating on the stock in a report on Friday, September 13th. B. Riley lowered their price target on shares of Atkore from $183.00 to $135.00 and set a buy rating for the company in a report on Wednesday, August 7th. Finally, Royal Bank of Canada downgraded shares of Atkore from an outperform rating to a sector perform rating and cut their target price for the company from $175.00 to $100.00 in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $131.60.

Atkore Stock Performance

NYSE ATKR opened at $85.35 on Friday. Atkore has a 1-year low of $80.11 and a 1-year high of $194.98. The company has a 50 day moving average of $105.23 and a 200-day moving average of $140.55. The company has a current ratio of 3.26, a quick ratio of 2.03 and a debt-to-equity ratio of 0.49. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 5.32 and a beta of 2.14.

Atkore (NYSE:ATKR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share for the quarter, beating analysts’ consensus estimates of $3.52 by $0.28. Atkore had a return on equity of 36.96% and a net margin of 16.47%. The firm had revenue of $822.40 million during the quarter, compared to analysts’ expectations of $830.16 million. During the same period last year, the firm posted $5.13 EPS. The business’s revenue was down 10.5% on a year-over-year basis. On average, equities analysts forecast that Atkore will post 12.69 earnings per share for the current fiscal year.

Atkore Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.50%. The ex-dividend date was Tuesday, August 20th. Atkore’s payout ratio is 7.98%.

Insider Transactions at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $95.47, for a total value of $47,735.00. Following the completion of the transaction, the insider now directly owns 28,086 shares of the company’s stock, valued at $2,681,370.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.56% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Atkore during the 2nd quarter worth approximately $2,914,000. Sanctuary Advisors LLC bought a new stake in Atkore during the 2nd quarter worth about $1,339,000. Dana Investment Advisors Inc. boosted its stake in shares of Atkore by 15.0% during the 2nd quarter. Dana Investment Advisors Inc. now owns 13,307 shares of the company’s stock worth $1,796,000 after buying an additional 1,732 shares during the last quarter. Chase Investment Counsel Corp bought a new stake in shares of Atkore during the 2nd quarter worth approximately $890,000. Finally, Quarry LP acquired a new stake in Atkore in the second quarter valued at $57,000.

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.