Atkore Inc. (NYSE:ATKR) Receives $131.60 Average Price Target from Brokerages

Shares of Atkore Inc. (NYSE:ATKR) have been given an average recommendation of “Moderate Buy” by the five brokerages that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $131.60.

A number of research analysts recently issued reports on the company. Royal Bank of Canada downgraded Atkore from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $175.00 to $100.00 in a report on Wednesday, August 7th. Loop Capital cut their price objective on Atkore from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, September 20th. B. Riley dropped their price target on Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, KeyCorp dropped their price target on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, September 13th.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 500 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $95.47, for a total transaction 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 approximately $2,681,370.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.56% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new stake in shares of Atkore in the second quarter worth $57,000. Mather Group LLC. lifted its holdings in Atkore by 895.7% in the second quarter. Mather Group LLC. now owns 468 shares of the company’s stock valued at $63,000 after acquiring an additional 421 shares during the period. Headlands Technologies LLC lifted its holdings in Atkore by 829.9% in the second quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock valued at $122,000 after acquiring an additional 805 shares during the period. Kapitalo Investimentos Ltda lifted its holdings in Atkore by 2,658.8% in the fourth quarter. Kapitalo Investimentos Ltda now owns 938 shares of the company’s stock valued at $150,000 after acquiring an additional 904 shares during the period. Finally, Summit Trail Advisors LLC lifted its holdings in Atkore by 32.1% in the second quarter. Summit Trail Advisors LLC now owns 1,549 shares of the company’s stock valued at $209,000 after acquiring an additional 376 shares during the period.

Atkore Price Performance

Shares of ATKR stock opened at $88.64 on Tuesday. The stock’s fifty day simple moving average is $89.00 and its 200 day simple moving average is $129.27. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 5.53 and a beta of 2.14. Atkore has a one year low of $80.11 and a one year high of $194.98.

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

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Tuesday, August 20th. Atkore’s dividend payout ratio is currently 7.98%.

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.