Analysts Set Atkore Inc. (NYSE:ATKR) Target Price at $103.17

Atkore Inc. (NYSE:ATKR) has been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $103.17.

Several brokerages have weighed in on ATKR. Loop Capital downgraded Atkore from a “buy” rating to a “hold” rating and cut their price target for the stock from $115.00 to $65.00 in a report on Monday, February 10th. B. Riley downgraded Atkore from a “buy” rating to a “neutral” rating and cut their price target for the stock from $135.00 to $84.00 in a report on Friday, November 22nd. Roth Mkm began coverage on Atkore in a report on Tuesday, December 17th. They set a “buy” rating and a $100.00 price target on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 price target (up previously from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Finally, KeyCorp dropped their price objective on Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th.

Insider Transactions at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $65.00, for a total value of $32,500.00. Following the completion of the transaction, the insider now directly owns 33,760 shares in the company, valued at approximately $2,194,400. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.99% of the company’s stock.

Hedge Funds Weigh In On Atkore

Several institutional investors have recently added to or reduced their stakes in the business. Lakewood Asset Management LLC increased its stake in Atkore by 1.4% in the fourth quarter. Lakewood Asset Management LLC now owns 9,057 shares of the company’s stock valued at $756,000 after purchasing an additional 126 shares during the last quarter. Van Den Berg Management I Inc. increased its stake in Atkore by 0.4% in the fourth quarter. Van Den Berg Management I Inc. now owns 41,041 shares of the company’s stock valued at $3,425,000 after purchasing an additional 158 shares during the last quarter. Isthmus Partners LLC increased its stake in Atkore by 0.8% in the fourth quarter. Isthmus Partners LLC now owns 21,441 shares of the company’s stock valued at $1,789,000 after purchasing an additional 162 shares during the last quarter. Xponance Inc. grew its position in Atkore by 6.9% during the fourth quarter. Xponance Inc. now owns 2,569 shares of the company’s stock valued at $214,000 after acquiring an additional 166 shares during the period. Finally, Willis Investment Counsel grew its position in Atkore by 3.3% during the fourth quarter. Willis Investment Counsel now owns 5,350 shares of the company’s stock valued at $446,000 after acquiring an additional 171 shares during the period.

Atkore Stock Performance

Shares of Atkore stock opened at $64.55 on Friday. Atkore has a 52 week low of $55.91 and a 52 week high of $194.98. The business’s fifty day simple moving average is $73.29 and its 200-day simple moving average is $82.53. The firm has a market cap of $2.24 billion, a PE ratio of 6.25 and a beta of 2.22. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51.

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

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a $0.32 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.98%. Atkore’s dividend payout ratio (DPR) is 12.39%.

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.