Atkore Inc. (NYSE:ATKR) Given Average Recommendation of "Moderate Buy" by Analysts

Atkore Inc. (NYSE:ATKR - Get Free Report) has been given an average recommendation of "Moderate Buy" by the seven analysts that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $115.67.

Several brokerages recently issued reports on ATKR. Loop Capital cut their price target on shares of Atkore from $130.00 to $115.00 and set a "buy" rating for the company in a report on Friday, November 22nd. B. Riley lowered shares of Atkore from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $135.00 to $84.00 in a report on Friday, November 22nd. Roth Mkm started coverage on Atkore in a report on Tuesday, December 17th. They issued a "buy" rating and a $100.00 target price on the stock. KeyCorp dropped their price target on Atkore from $125.00 to $105.00 and set an "overweight" rating for the company in a report on Friday, September 13th. Finally, Roth Capital upgraded Atkore to a "strong-buy" rating in a research report on Monday, December 16th.

Atkore Price Performance

Shares of ATKR traded down $0.53 during mid-day trading on Friday, reaching $83.37. The company had a trading volume of 408,756 shares, compared to its average volume of 627,378. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.98 and a quick ratio of 1.96. The company has a market capitalization of $2.89 billion, a P/E ratio of 6.60 and a beta of 2.10. Atkore has a twelve month low of $76.01 and a twelve month high of $194.98. The company's 50-day moving average is $88.95 and its 200-day moving average is $101.74.

Atkore (NYSE:ATKR - Get Free Report) last announced its quarterly earnings results on Thursday, November 21st. The company reported $2.02 earnings per share for the quarter, missing analysts' consensus estimates of $2.08 by ($0.06). The company had revenue of $788.30 million during the quarter, compared to the consensus estimate of $749.49 million. Atkore had a net margin of 14.77% and a return on equity of 32.14%. The business's revenue was down 9.4% on a year-over-year basis. During the same quarter last year, the company earned $3.63 earnings per share. On average, equities analysts anticipate that Atkore will post 6.69 EPS for the current year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors 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 1.54%. The ex-dividend date of this dividend was Friday, December 6th. Atkore's dividend payout ratio is currently 10.13%.

Insider Buying and Selling

In other Atkore news, Director Jeri L. Isbell sold 3,353 shares of the firm's stock in a transaction that occurred 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 directly owns 25,585 shares of the company's stock, valued at approximately $2,405,757.55. This trade represents a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Daniel S. Kelly sold 13,071 shares of Atkore stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total transaction of $1,251,417.54. Following the sale, the vice president now directly owns 27,528 shares of the company's stock, valued at $2,635,530.72. This represents a 32.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,924 shares of company stock worth $1,614,975 in the last quarter. Insiders own 1.99% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ATKR. Signaturefd LLC raised its position in shares of Atkore by 445.6% in the 3rd quarter. Signaturefd LLC now owns 491 shares of the company's stock valued at $42,000 after acquiring an additional 401 shares during the period. Quarry LP increased its stake in Atkore by 48.8% in the third quarter. Quarry LP now owns 634 shares of the company's stock valued at $54,000 after purchasing an additional 208 shares in the last quarter. Covestor Ltd raised its holdings in Atkore by 63.7% in the third quarter. Covestor Ltd now owns 1,002 shares of the company's stock worth $85,000 after purchasing an additional 390 shares during the period. Headlands Technologies LLC grew its holdings in shares of Atkore by 829.9% in the 2nd quarter. Headlands Technologies LLC now owns 902 shares of the company's stock valued at $122,000 after buying an additional 805 shares during the period. Finally, Pinnacle Associates Ltd. bought a new stake in shares of Atkore in the 3rd quarter valued at $126,000.

About Atkore

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.