Atkore Inc. (NYSE:ATKR) Receives $117.00 Average Price Target from Analysts

Shares of Atkore Inc. (NYSE:ATKR - Get Free Report) have been assigned a consensus rating of "Hold" from the five brokerages that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $118.80.

Several analysts have recently commented on ATKR shares. Loop Capital reduced their target price on Atkore from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Friday, November 22nd. KeyCorp reduced their price objective on Atkore from $125.00 to $105.00 and set an "overweight" rating for the company in a research note on Friday, September 13th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $102.00 target price (up from $93.00) on shares of Atkore in a research report on Wednesday. Finally, B. Riley downgraded shares of Atkore from a "buy" rating to a "neutral" rating and reduced their price target for the company from $135.00 to $84.00 in a research report on Friday, November 22nd.

Atkore Trading Down 2.0 %

Shares of Atkore stock traded down $1.86 on Wednesday, hitting $92.02. 186,295 shares of the company's stock traded hands, compared to its average volume of 635,057. The company has a fifty day moving average of $88.84 and a two-hundred day moving average of $109.68. Atkore has a one year low of $76.01 and a one year high of $194.98. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 7.41 and a beta of 2.10. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.98 and a quick ratio of 1.96.

Atkore (NYSE:ATKR - Get Free Report) last issued its quarterly 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 during the quarter, compared to analyst estimates of $749.49 million. Atkore had a net margin of 14.77% and a return on equity of 32.14%. Atkore's quarterly revenue was down 9.4% compared to the same quarter last year. During the same period last year, the firm posted $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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, December 6th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.39%. The ex-dividend date is Friday, December 6th. Atkore's dividend payout ratio (DPR) is presently 10.13%.

Insider Activity

In other news, Director Jeri L. Isbell sold 3,353 shares of the company's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total value of $315,282.59. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction on Monday, November 11th. The shares were sold at an average price of $96.55, for a total value of $48,275.00. Following the sale, the insider now directly owns 27,626 shares of the company's stock, valued at $2,667,290.30. This represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,924 shares of company stock worth $1,614,975. 2.56% of the stock is owned by corporate insiders.

Institutional Trading of Atkore

Several institutional investors and hedge funds have recently modified their holdings of ATKR. Quarry LP purchased a new position in Atkore in the second quarter worth $57,000. Mather Group LLC. increased its position in shares of Atkore by 895.7% during the 2nd quarter. Mather Group LLC. now owns 468 shares of the company's stock valued at $63,000 after purchasing an additional 421 shares during the last quarter. Signaturefd LLC lifted its position in Atkore by 445.6% in the 3rd quarter. Signaturefd LLC now owns 491 shares of the company's stock worth $42,000 after buying an additional 401 shares during the last quarter. Headlands Technologies LLC boosted its stake in Atkore by 829.9% in the second quarter. Headlands Technologies LLC now owns 902 shares of the company's stock worth $122,000 after buying an additional 805 shares in the last quarter. Finally, Covestor Ltd grew its position in Atkore by 63.7% during the third quarter. Covestor Ltd now owns 1,002 shares of the company's stock valued at $85,000 after acquiring an additional 390 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.