Loop Capital Issues Pessimistic Forecast for Atkore (NYSE:ATKR) Stock Price

Atkore (NYSE:ATKR) had its target price reduced by research analysts at Loop Capital from $130.00 to $115.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Loop Capital’s price target points to a potential upside of 28.22% from the stock’s current price.

ATKR has been the subject of several other reports. KeyCorp reduced their price target on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Royal Bank of Canada downgraded Atkore from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $175.00 to $100.00 in a report on Wednesday, August 7th. Finally, B. Riley downgraded 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 report on Friday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $117.00.

Atkore Trading Up 5.3 %

Shares of NYSE:ATKR opened at $89.69 on Friday. The stock has a market capitalization of $3.22 billion, a PE ratio of 7.08 and a beta of 2.13. The company’s 50-day moving average price is $87.80 and its two-hundred day moving average price is $113.33. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03. Atkore has a one year low of $76.01 and a one year high of $194.98.

Insider Activity

In other news, 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 transaction of $48,275.00. Following the completion of the sale, the insider now directly owns 27,626 shares in the company, valued at $2,667,290.30. This represents a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.56% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its holdings in 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 in the last quarter. Swedbank AB bought a new stake in Atkore in the first quarter worth about $47,591,000. Marshall Wace LLP lifted its stake in Atkore by 1,047.5% in the second quarter. Marshall Wace LLP now owns 224,267 shares of the company’s stock valued at $30,260,000 after purchasing an additional 204,723 shares during the last quarter. Boston Trust Walden Corp purchased a new position in shares of Atkore during the 2nd quarter valued at $23,306,000. Finally, American Century Companies Inc. lifted its holdings in Atkore by 22.9% during the second quarter. American Century Companies Inc. now owns 773,697 shares of the company’s stock valued at $104,395,000 after purchasing an additional 144,283 shares during the last quarter.

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.