Atkore (NYSE:ATKR) Price Target Cut to $105.00

Atkore (NYSE:ATKR) had its price target lowered by KeyCorp from $125.00 to $105.00 in a research note released on Friday, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other research analysts have also commented on ATKR. B. Riley cut their price target on shares of Atkore from $183.00 to $135.00 and set a buy rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada downgraded shares of Atkore from an outperform rating to a sector perform rating and cut their target price for the company from $175.00 to $100.00 in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Atkore has a consensus rating of Hold and an average price target of $132.00.

Atkore Trading Up 1.6 %

ATKR stock opened at $86.36 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 company has a market cap of $3.10 billion, a price-to-earnings ratio of 5.38 and a beta of 2.14. The business has a fifty day simple moving average of $111.41 and a 200-day simple moving average of $144.00. Atkore has a 52 week low of $80.11 and a 52 week high of $194.98.

Atkore (NYSE:ATKR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.28. The firm had revenue of $822.40 million during the quarter, compared to the consensus estimate of $830.16 million. Atkore had a return on equity of 36.96% and a net margin of 16.47%. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.13 earnings per share. On average, equities research analysts expect that Atkore will post 12.69 EPS for the current year.

Atkore Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date was Tuesday, August 20th. Atkore’s dividend payout ratio is presently 7.98%.

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $95.47, for a total value of $47,735.00. Following the completion of the transaction, the insider now directly owns 28,086 shares in the company, valued at $2,681,370.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.56% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. ICA Group Wealth Management LLC purchased a new stake in Atkore during the 4th quarter worth approximately $25,000. LifeSteps Financial Inc. acquired a new stake in shares of Atkore during the first quarter worth approximately $33,000. Global Retirement Partners LLC raised its holdings in Atkore by 405.1% in the first quarter. Global Retirement Partners LLC now owns 197 shares of the company’s stock valued at $38,000 after acquiring an additional 158 shares in the last quarter. Quarry LP bought a new position in Atkore during the 2nd quarter valued at $57,000. Finally, Mather Group LLC. grew its holdings in Atkore by 895.7% during the 2nd quarter. Mather Group LLC. now owns 468 shares of the company’s stock worth $63,000 after acquiring an additional 421 shares in 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.