Atkore Inc. (NYSE:ATKR) Receives $132.00 Average PT from Analysts

Atkore Inc. (NYSE:ATKR) has received an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $131.60.

ATKR has been the subject of several recent analyst reports. KeyCorp lowered their price objective on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Loop Capital lowered their price target on Atkore from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Royal Bank of Canada lowered Atkore from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $175.00 to $100.00 in a research report on Wednesday, August 7th. Finally, B. Riley decreased their target price on Atkore from $183.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, August 7th.

Atkore Stock Performance

NYSE ATKR opened at $85.22 on Friday. The company has a 50-day simple moving average of $102.65 and a two-hundred day simple moving average of $139.57. Atkore has a 12-month low of $80.11 and a 12-month high of $194.98. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 5.31 and a beta of 2.14. The company has a quick ratio of 2.03, a current ratio of 3.26 and a debt-to-equity ratio of 0.49.

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

Atkore Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were paid a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.28 annualized dividend and a yield of 1.50%. Atkore’s payout ratio is 7.98%.

Insiders Place Their Bets

In other news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $95.47, for a total transaction of $47,735.00. Following the sale, the insider now owns 28,086 shares in the company, valued at approximately $2,681,370.42. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.56% of the stock is owned by corporate insiders.

Institutional Trading of Atkore

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Boston Partners grew its stake in shares of Atkore by 12.0% in the first quarter. Boston Partners now owns 1,340,146 shares of the company’s stock worth $254,733,000 after acquiring an additional 143,121 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Atkore by 28.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 973,116 shares of the company’s stock worth $131,303,000 after purchasing an additional 216,997 shares in the last quarter. American Century Companies Inc. grew its position in Atkore by 22.9% during the 2nd 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. Clearbridge Investments LLC increased its stake in Atkore by 48.4% during the 1st quarter. Clearbridge Investments LLC now owns 514,908 shares of the company’s stock valued at $98,018,000 after purchasing an additional 168,042 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Atkore by 1.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 449,323 shares of the company’s stock worth $85,535,000 after buying 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.