Atkore Inc. (NYSE:ATKR) Receives $103.17 Average Target Price from Analysts

Shares of Atkore Inc. (NYSE:ATKR - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the seven ratings firms that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $103.17.

A number of equities analysts recently commented on ATKR shares. Roth Capital upgraded Atkore to a "strong-buy" rating in a report on Monday, December 16th. B. Riley downgraded Atkore from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $135.00 to $84.00 in a research note on Friday, November 22nd. Loop Capital cut Atkore from a "buy" rating to a "hold" rating and dropped their price target for the company from $115.00 to $65.00 in a research note on Monday, February 10th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $102.00 price objective (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Finally, KeyCorp decreased their price objective on shares of Atkore from $105.00 to $80.00 and set an "overweight" rating on the stock in a report on Wednesday, February 5th.

Atkore Stock Down 1.4 %

Shares of Atkore stock traded down $0.97 on Monday, reaching $67.26. 457,582 shares of the company were exchanged, compared to its average volume of 738,484. Atkore has a one year low of $62.62 and a one year high of $194.98. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average of $80.14 and a 200 day moving average of $86.71. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of 6.51 and a beta of 2.12.

Atkore (NYSE:ATKR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.45. The firm had revenue of $661.60 million during the quarter, compared to analysts' expectations of $680.77 million. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The company's revenue for the quarter was down 17.1% compared to the same quarter last year. During the same quarter last year, the company posted $4.12 earnings per share. On average, equities research analysts forecast that Atkore will post 5.79 earnings per share for the current year.

Atkore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, February 18th. Atkore's dividend payout ratio (DPR) is 12.39%.

Insiders Place Their Bets

In related news, Director Jeri L. Isbell sold 3,353 shares of the company's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total transaction of $315,282.59. Following the completion of the sale, the director now owns 25,585 shares of the company's stock, valued at $2,405,757.55. This represents a 11.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark F. Lamps sold 500 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $65.00, for a total transaction of $32,500.00. Following the sale, the insider now directly owns 33,760 shares of the company's stock, valued at approximately $2,194,400. This trade represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,924 shares of company stock worth $1,599,200 in the last quarter. Corporate insiders own 1.99% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its holdings in shares of Atkore by 87.7% in the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company's stock valued at $33,000 after purchasing an additional 186 shares in the last quarter. Signaturefd LLC raised its stake in Atkore by 445.6% during the third quarter. Signaturefd LLC now owns 491 shares of the company's stock worth $42,000 after acquiring an additional 401 shares in the last quarter. Quarry LP lifted its holdings in shares of Atkore by 48.8% in the third quarter. Quarry LP now owns 634 shares of the company's stock worth $54,000 after acquiring an additional 208 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Atkore by 30.2% in the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company's stock valued at $70,000 after purchasing an additional 195 shares in the last quarter. Finally, Covestor Ltd increased its position in Atkore by 63.7% during the 3rd quarter. Covestor Ltd now owns 1,002 shares of the company's stock worth $85,000 after purchasing an additional 390 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.