Atkore Inc. (NYSE:ATKR) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Atkore Inc. (NYSE:ATKR - Get Free Report) have earned an average recommendation of "Moderate Buy" from the five brokerages that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $131.60.

A number of research firms recently issued reports on ATKR. Royal Bank of Canada cut shares of Atkore from an "outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $175.00 to $100.00 in a research report on Wednesday, August 7th. KeyCorp lowered their price objective on shares of Atkore from $125.00 to $105.00 and set an "overweight" rating for the company in a research report on Friday, September 13th. Loop Capital lowered their price objective on shares of Atkore from $160.00 to $130.00 and set a "buy" rating for the company in a research report on Friday, September 20th. Finally, B. Riley lowered their price objective on shares of Atkore from $183.00 to $135.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th.

Atkore Stock Performance

NYSE ATKR traded down $1.27 during trading on Tuesday, reaching $85.59. The company's stock had a trading volume of 392,999 shares, compared to its average volume of 618,056. The company has a current ratio of 3.26, a quick ratio of 2.03 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 5.42 and a beta of 2.14. Atkore has a 12 month low of $80.11 and a 12 month high of $194.98. The firm has a 50 day moving average price of $89.58 and a 200 day moving average price of $130.58.

Atkore (NYSE:ATKR - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $3.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.52 by $0.28. Atkore had a net margin of 16.47% and a return on equity of 36.96%. The firm had revenue of $822.40 million during the quarter, compared to the consensus estimate of $830.16 million. During the same quarter in the previous year, the firm posted $5.13 EPS. The business's revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, equities analysts anticipate that Atkore will post 12.69 EPS for the current fiscal year.

Atkore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Tuesday, August 20th. Atkore's payout ratio is 7.98%.

Insider Activity at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of the business's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $95.47, for a total transaction of $47,735.00. Following the completion of the sale, the insider now directly owns 28,086 shares of the company's stock, valued at approximately $2,681,370.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.56% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Atkore

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP bought a new position in Atkore during the second quarter valued at about $57,000. Mather Group LLC. grew its position in Atkore by 895.7% during the second quarter. Mather Group LLC. now owns 468 shares of the company's stock valued at $63,000 after buying an additional 421 shares during the period. Headlands Technologies LLC grew its position in Atkore by 829.9% during the second 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. Kapitalo Investimentos Ltda grew its position in Atkore by 2,658.8% during the fourth quarter. Kapitalo Investimentos Ltda now owns 938 shares of the company's stock valued at $150,000 after buying an additional 904 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Atkore during the first quarter valued at about $239,000.

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.