Atkore (NYSE:ATKR) Downgraded to "Hold" Rating by Loop Capital

Loop Capital downgraded shares of Atkore (NYSE:ATKR - Free Report) from a buy rating to a hold rating in a report released on Monday, MarketBeat.com reports. Loop Capital currently has $65.00 price objective on the stock, down from their prior price objective of $115.00.

Several other research analysts also recently commented on ATKR. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $102.00 price target (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. KeyCorp dropped their price target on Atkore from $105.00 to $80.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 5th. Roth Mkm assumed coverage on Atkore in a research report on Tuesday, December 17th. They issued a "buy" rating and a $100.00 price target on the stock. B. Riley downgraded Atkore from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $135.00 to $84.00 in a research report on Friday, November 22nd. Finally, Roth Capital raised Atkore to a "strong-buy" rating in a research report on Monday, December 16th. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $103.17.

Atkore Stock Performance

Shares of ATKR stock traded up $0.58 during trading on Monday, reaching $69.99. The company had a trading volume of 577,221 shares, compared to its average volume of 747,280. The firm's 50 day simple moving average is $82.02 and its two-hundred day simple moving average is $88.83. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96. Atkore has a one year low of $62.62 and a one year high of $194.98. The company has a market capitalization of $2.43 billion, a PE ratio of 6.78 and a beta of 2.12.

Atkore (NYSE:ATKR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.45. The business had revenue of $661.60 million for the quarter, compared to the consensus estimate of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The firm's revenue was down 17.1% compared to the same quarter last year. During the same period last year, the business earned $4.12 EPS. Sell-side analysts forecast that Atkore will post 6.55 earnings per share for the current year.

Atkore Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Tuesday, February 18th. Atkore's payout ratio is presently 12.39%.

Insider Transactions at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the business's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $65.00, for a total value of $32,500.00. Following the sale, the insider now owns 33,760 shares of the company's stock, valued at $2,194,400. The trade was a 1.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeri L. Isbell sold 3,353 shares of the business'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 completion of the sale, the director now directly owns 25,585 shares in the company, valued at approximately $2,405,757.55. This represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,924 shares of company stock valued at $1,599,200. 1.99% of the stock is owned by corporate insiders.

Institutional Trading of Atkore

Several institutional investors have recently bought and sold shares of ATKR. Jones Financial Companies Lllp boosted its stake in 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 buying an additional 186 shares in the last quarter. Signaturefd LLC boosted its stake in Atkore by 445.6% in the third quarter. Signaturefd LLC now owns 491 shares of the company's stock worth $42,000 after purchasing an additional 401 shares in the last quarter. Quarry LP boosted its stake in Atkore by 48.8% in the third quarter. Quarry LP now owns 634 shares of the company's stock worth $54,000 after purchasing an additional 208 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Atkore by 30.2% in the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company's stock worth $70,000 after purchasing an additional 195 shares in the last quarter. Finally, Covestor Ltd boosted its stake 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 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.