Atkore Inc. (NYSE:ATKR) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Atkore Inc. (NYSE:ATKR) have been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $103.17.

A number of equities research analysts have recently weighed in on the company. B. Riley cut Atkore from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. KeyCorp dropped their target price on Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Roth Mkm initiated coverage on shares of Atkore in a research report on Tuesday, December 17th. They set a “buy” rating and a $100.00 price target on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 price objective (up previously from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Finally, Roth Capital raised shares of Atkore to a “strong-buy” rating in a research note on Monday, December 16th.

Insider Buying and Selling at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction that occurred on 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 approximately $2,194,400. The trade was a 1.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.99% of the stock is owned by company insiders.

Institutional Trading of Atkore

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Covestor Ltd raised its position in shares of Atkore by 63.7% during the 3rd quarter. Covestor Ltd now owns 1,002 shares of the company’s stock worth $85,000 after purchasing an additional 390 shares during the period. State of New Jersey Common Pension Fund D raised its stake in Atkore by 46.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 19,804 shares of the company’s stock valued at $1,678,000 after acquiring an additional 6,300 shares in the last quarter. Versor Investments LP acquired a new position in Atkore during the 3rd quarter worth $364,000. Entropy Technologies LP grew its stake in shares of Atkore by 166.4% in the third quarter. Entropy Technologies LP now owns 10,881 shares of the company’s stock worth $922,000 after purchasing an additional 6,796 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new position in shares of Atkore during the third quarter valued at $350,000.

Atkore Trading Down 3.8 %

ATKR stock opened at $64.03 on Friday. The business’s 50-day moving average is $71.74 and its 200 day moving average is $81.91. Atkore has a 12-month low of $55.91 and a 12-month high of $194.98. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 6.20 and a beta of 2.22. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51.

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

Atkore Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Tuesday, February 18th. Atkore’s dividend payout ratio is presently 12.39%.

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.