Atkore (NYSE:ATKR) Stock Rating Lowered by B. Riley

Atkore (NYSE:ATKR - Get Free Report) was downgraded by stock analysts at B. Riley from a "buy" rating to a "neutral" rating in a research note issued on Friday, Marketbeat.com reports. They presently have a $84.00 price objective on the stock, down from their prior price objective of $135.00. B. Riley's price objective indicates a potential downside of 6.85% from the stock's current price.

A number of other equities analysts also recently commented on the company. Royal Bank of Canada downgraded Atkore from an "outperform" rating to a "sector perform" rating and dropped their price objective for the stock from $175.00 to $100.00 in a report on Wednesday, August 7th. KeyCorp dropped their price objective on Atkore from $125.00 to $105.00 and set an "overweight" rating on the stock in a report on Friday, September 13th. Finally, Loop Capital dropped their price objective on Atkore from $160.00 to $130.00 and set a "buy" rating on the stock in a report on Friday, September 20th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Atkore presently has an average rating of "Hold" and an average price target of $117.00.

Atkore Trading Up 5.9 %

ATKR stock traded up $5.04 during mid-day trading on Friday, reaching $90.18. 1,273,482 shares of the stock traded hands, compared to its average volume of 632,161. The company has a current ratio of 3.26, a quick ratio of 2.03 and a debt-to-equity ratio of 0.49. Atkore has a 52-week low of $76.01 and a 52-week high of $194.98. The company has a market cap of $3.23 billion, a P/E ratio of 6.43 and a beta of 2.13. The stock's fifty day moving average is $87.74 and its 200-day moving average is $113.93.

Insider Activity

In other Atkore news, insider Mark F. Lamps sold 500 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $96.55, for a total transaction of $48,275.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.56% of the stock is owned by company insiders.

Institutional Trading of Atkore

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new stake in Atkore in the second quarter worth about $57,000. Mather Group LLC. lifted its holdings 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 in the last quarter. Signaturefd LLC lifted its holdings in shares of Atkore by 445.6% during the 3rd 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. Headlands Technologies LLC lifted its holdings in shares of 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 purchasing an additional 805 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Atkore by 63.7% during the 3rd quarter. Covestor Ltd now owns 1,002 shares of the company's stock valued at $85,000 after purchasing an additional 390 shares in the last quarter.

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.