Atkore Inc. (NYSE:ATKR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Atkore Inc. (NYSE:ATKR) has received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $115.67.

Several equities research analysts have commented on the company. Loop Capital lowered their price objective on Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Roth Mkm initiated coverage on shares of Atkore in a report on Tuesday, December 17th. They set a “buy” rating and a $100.00 price target on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 price objective (up previously from $93.00) on shares of Atkore in a report on Wednesday, December 4th. B. Riley lowered shares of Atkore from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $135.00 to $84.00 in a research note on Friday, November 22nd. Finally, Roth Capital upgraded Atkore to a “strong-buy” rating in a research note on Monday, December 16th.

Insider Buying and Selling

In other news, VP Daniel S. Kelly sold 13,071 shares of Atkore stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total value of $1,251,417.54. Following the sale, the vice president now directly owns 27,528 shares of the company’s stock, valued at $2,635,530.72. The trade was a 32.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $96.55, for a total value of $48,275.00. Following the completion of the transaction, the insider now directly owns 27,626 shares of the company’s stock, valued at approximately $2,667,290.30. This represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,924 shares of company stock worth $1,614,975. Insiders own 1.99% of the company’s stock.

Institutional Trading of Atkore

Several large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of Atkore by 26.8% during the 3rd 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 during the last quarter. Royce & Associates LP boosted its stake in Atkore by 20.2% during the third quarter. Royce & Associates LP now owns 396,054 shares of the company’s stock worth $33,562,000 after buying an additional 66,533 shares during the last quarter. Marshall Wace LLP grew its holdings in Atkore by 1,047.5% in the 2nd quarter. Marshall Wace LLP now owns 224,267 shares of the company’s stock valued at $30,260,000 after buying an additional 204,723 shares in the last quarter. E. Ohman J or Asset Management AB increased its stake in shares of Atkore by 3.7% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 205,125 shares of the company’s stock worth $17,382,000 after acquiring an additional 7,256 shares during the last quarter. Finally, Boston Trust Walden Corp raised its holdings in shares of Atkore by 9.0% during the 3rd quarter. Boston Trust Walden Corp now owns 188,355 shares of the company’s stock worth $15,961,000 after acquiring an additional 15,626 shares during the period.

Atkore Stock Down 0.9 %

NYSE:ATKR opened at $87.42 on Thursday. Atkore has a 1-year low of $76.01 and a 1-year high of $194.98. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.98 and a quick ratio of 1.96. The firm has a market capitalization of $3.04 billion, a P/E ratio of 6.92 and a beta of 2.13. The company’s fifty day moving average price is $86.80 and its 200-day moving average price is $95.74.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Thursday, November 21st. The company reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.06). The company had revenue of $788.30 million for the quarter, compared to analysts’ expectations of $749.49 million. Atkore had a net margin of 14.77% and a return on equity of 32.14%. The business’s quarterly revenue was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.63 EPS. As a group, equities research analysts anticipate that Atkore will post 6.62 EPS for the current year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, December 6th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Friday, December 6th. Atkore’s dividend payout ratio is presently 10.13%.

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.