Royal Bank of Canada Lowers Atkore (NYSE:ATKR) Price Target to $93.00

Atkore (NYSE:ATKR) had its price objective lowered by stock analysts at Royal Bank of Canada from $99.00 to $93.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 3.69% from the stock’s previous close.

A number of other equities analysts have also weighed in on the company. B. Riley lowered Atkore from a “buy” rating to a “neutral” rating and decreased their price target for the company from $135.00 to $84.00 in a research report on Friday. Loop Capital decreased their target price on shares of Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday. Finally, KeyCorp dropped their target price on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $117.00.

Atkore Stock Performance

ATKR opened at $89.69 on Friday. 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 firm has a market cap of $3.22 billion, a PE ratio of 7.08 and a beta of 2.13. The business has a fifty day simple moving average of $87.80 and a 200-day simple moving average of $113.33. Atkore has a fifty-two week low of $76.01 and a fifty-two week high of $194.98.

Insider Activity

In other news, insider Mark F. Lamps sold 500 shares of the company’s 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.56% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Hodges Capital Management Inc. bought a new stake in shares of Atkore in the 2nd quarter valued at approximately $4,158,000. Capital World Investors acquired a new stake in Atkore in the first quarter valued at approximately $14,986,000. Boston Trust Walden Corp bought a new stake in Atkore in the second quarter worth approximately $23,306,000. Maverick Capital Ltd. grew its position in Atkore by 386.9% in the second quarter. Maverick Capital Ltd. now owns 9,709 shares of the company’s stock worth $1,310,000 after acquiring an additional 7,715 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Atkore by 1.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 449,323 shares of the company’s stock worth $85,535,000 after purchasing an additional 4,852 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.