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

Shares of Atkore Inc. (NYSE:ATKR) have been assigned an average recommendation of “Moderate Buy” from the seven analysts that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $115.67.

ATKR has been the subject of a number of research reports. Loop Capital lowered their price target on Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday, November 22nd. B. Riley downgraded Atkore from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $135.00 to $84.00 in a research report on Friday, November 22nd. 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 research note on Wednesday, December 4th. Roth Capital raised shares of Atkore to a “strong-buy” rating in a research note on Monday, December 16th. Finally, Roth Mkm initiated coverage on shares of Atkore in a research report on Tuesday, December 17th. They set a “buy” rating and a $100.00 target price on the stock.

Atkore Stock Performance

ATKR stock opened at $87.42 on Thursday. Atkore has a twelve month low of $76.01 and a twelve month high of $194.98. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 6.92 and a beta of 2.13. The business’s fifty day simple moving average is $86.80 and its two-hundred day simple moving average is $95.74. The company has a quick ratio of 1.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.50.

Atkore (NYSE:ATKR) last posted its quarterly earnings results on Thursday, November 21st. The company reported $2.02 EPS for the quarter, missing the consensus estimate of $2.08 by ($0.06). The company had revenue of $788.30 million during the quarter, compared to analysts’ expectations of $749.49 million. Atkore had a return on equity of 32.14% and a net margin of 14.77%. The company’s quarterly revenue was down 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.63 EPS. Analysts predict that Atkore will post 6.62 earnings per share for the current year.

Atkore Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, December 6th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Friday, December 6th. Atkore’s payout ratio is 10.13%.

Insider Activity

In related news, VP Daniel S. Kelly sold 13,071 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total transaction of $1,251,417.54. Following the transaction, the vice president now directly owns 27,528 shares of the company’s stock, valued at $2,635,530.72. This represents a 32.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $48,275.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,924 shares of company stock worth $1,614,975. Corporate insiders own 1.99% of the company’s stock.

Hedge Funds Weigh In On Atkore

Several hedge funds have recently modified their holdings of ATKR. Vanguard Personalized Indexing Management LLC increased its stake in Atkore by 14.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 2,624 shares of the company’s stock valued at $354,000 after purchasing an additional 325 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Atkore in the 2nd quarter valued at $742,000. Sei Investments Co. raised its stake in Atkore by 7.4% in the 2nd quarter. Sei Investments Co. now owns 70,795 shares of the company’s stock worth $9,552,000 after acquiring an additional 4,882 shares during the last quarter. Summit Trail Advisors LLC lifted its position in Atkore by 32.1% during the 2nd quarter. Summit Trail Advisors LLC now owns 1,549 shares of the company’s stock worth $209,000 after acquiring an additional 376 shares during the period. Finally, Ensign Peak Advisors Inc lifted its position in Atkore by 13.4% during the 2nd quarter. Ensign Peak Advisors Inc now owns 12,667 shares of the company’s stock worth $1,709,000 after acquiring an additional 1,500 shares during the period.

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.