Atkore Inc. (NYSE:ATKR) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Atkore Inc. (NYSE:ATKR) have earned an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $131.60.

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

Insider Activity at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $96.55, for a total transaction of $48,275.00. Following the sale, the insider now owns 27,626 shares of the company’s stock, valued at $2,667,290.30. This trade represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.56% of the stock is currently owned by corporate insiders.

Institutional Trading of Atkore

Institutional investors have recently modified their holdings of the company. Hood River Capital Management LLC purchased a new stake in Atkore during the first quarter valued at approximately $63,900,000. Allspring Global Investments Holdings LLC lifted 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 valued at $104,599,000 after purchasing an additional 261,234 shares during the last quarter. Swedbank AB purchased a new stake in shares of Atkore during the 1st quarter valued at $47,591,000. Marshall Wace LLP boosted its position in shares of Atkore by 1,047.5% in the 2nd quarter. Marshall Wace LLP now owns 224,267 shares of the company’s stock worth $30,260,000 after purchasing an additional 204,723 shares in the last quarter. Finally, Boston Trust Walden Corp purchased a new position in Atkore during the 2nd quarter worth $23,306,000.

Atkore Stock Performance

ATKR stock opened at $88.98 on Friday. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 6.25 and a beta of 2.13. Atkore has a twelve month low of $80.11 and a twelve month high of $194.98. The company has a quick ratio of 2.03, a current ratio of 3.26 and a debt-to-equity ratio of 0.49. The business’s fifty day simple moving average is $87.45 and its two-hundred day simple moving average is $117.08.

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.