Atkore (NYSE:ATKR) Stock Rating Upgraded by Roth Capital

Roth Capital upgraded shares of Atkore (NYSE:ATKR) to a strong-buy rating in a research note released on Monday,Zacks.com reports.

Several other research firms also recently weighed in on ATKR. Roth Mkm began coverage on Atkore in a research note on Tuesday. They set a “buy” rating and a $100.00 price target for the company. B. Riley lowered shares of Atkore from a “buy” rating to a “neutral” rating and cut their target price for the stock from $135.00 to $84.00 in a research report on Friday, November 22nd. KeyCorp dropped their price target on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 price objective (up from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Finally, Loop Capital decreased their price objective on Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $115.67.

Atkore Stock Performance

ATKR stock opened at $85.25 on Monday. The company has a quick ratio of 1.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.50. The firm has a market cap of $2.98 billion, a PE ratio of 6.75 and a beta of 2.10. The business has a 50 day moving average of $89.63 and a 200-day moving average of $105.07. Atkore has a 12-month low of $76.01 and a 12-month high of $194.98.

Atkore (NYSE:ATKR) last announced its earnings results on Thursday, November 21st. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.06). The business had revenue of $788.30 million for the quarter, compared to analysts’ expectations of $749.49 million. Atkore had a net margin of 14.77% and a return on equity of 32.14%. The company’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.63 earnings per share. As a group, sell-side analysts expect that Atkore will post 6.69 earnings per share for the current year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, December 6th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Friday, December 6th. Atkore’s payout ratio is 10.13%.

Insider Buying and Selling

In related 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 transaction of $48,275.00. Following the completion of the sale, the insider now directly owns 27,626 shares in the company, valued at $2,667,290.30. This represents a 1.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeri L. Isbell sold 3,353 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $94.03, for a total transaction of $315,282.59. Following the sale, the director now owns 25,585 shares of the company’s stock, valued at approximately $2,405,757.55. This represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,924 shares of company stock worth $1,614,975. Corporate insiders own 2.56% of the company’s stock.

Institutional Investors Weigh In On Atkore

Institutional investors and hedge funds have recently bought and sold shares of the business. Signaturefd LLC boosted its position in shares of Atkore by 445.6% during the third quarter. Signaturefd LLC now owns 491 shares of the company’s stock valued at $42,000 after purchasing an additional 401 shares in the last quarter. Quarry LP increased its stake in shares of Atkore by 48.8% in the 3rd quarter. Quarry LP now owns 634 shares of the company’s stock worth $54,000 after acquiring an additional 208 shares in the last quarter. Covestor Ltd increased its stake in shares of Atkore by 63.7% in the 3rd quarter. Covestor Ltd now owns 1,002 shares of the company’s stock worth $85,000 after acquiring an additional 390 shares in the last quarter. Headlands Technologies LLC lifted its position in Atkore by 829.9% during the 2nd quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock valued at $122,000 after acquiring an additional 805 shares during the period. Finally, Pinnacle Associates Ltd. bought a new stake in Atkore during the third quarter worth about $126,000.

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.