Atkore (NYSE:ATKR) Stock Rating Upgraded by Roth Capital

Roth Capital upgraded shares of Atkore (NYSE:ATKR - Free Report) to a strong-buy rating in a research report released on Monday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on ATKR. KeyCorp dropped their target price on shares of Atkore from $125.00 to $105.00 and set an "overweight" rating on the stock in a report on Friday, September 13th. Loop Capital reduced their price objective on Atkore from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Friday, November 22nd. Roth Mkm initiated coverage on Atkore in a research report on Tuesday. They issued a "buy" rating and a $100.00 target price on the stock. B. Riley lowered 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. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $102.00 price objective (up previously from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $115.67.

Atkore Stock Down 3.9 %

ATKR traded down $3.29 during trading on Monday, hitting $82.02. 533,969 shares of the company's stock traded hands, compared to its average volume of 631,641. Atkore has a 12-month low of $76.01 and a 12-month high of $194.98. The company's 50 day simple moving average is $89.63 and its two-hundred day simple moving average is $105.07. The company has a current ratio of 2.98, a quick ratio of 1.96 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 6.49 and a beta of 2.10.

Atkore (NYSE:ATKR - Get Free Report) last released its quarterly earnings data on Thursday, November 21st. The company reported $2.02 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 the consensus estimate of $749.49 million. Atkore had a return on equity of 32.14% and a net margin of 14.77%. Atkore's quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.63 earnings per share. Analysts predict that Atkore will post 6.69 earnings per share for the current fiscal year.

Atkore Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Friday, December 6th. Atkore's dividend payout ratio is 10.13%.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 500 shares of the business's 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 owns 27,626 shares in the company, valued at $2,667,290.30. The trade was a 1.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeri L. Isbell sold 3,353 shares of the firm's stock in a transaction dated 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. The trade was a 11.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,924 shares of company stock worth $1,614,975. Company insiders own 2.56% of the company's stock.

Institutional Investors Weigh In On Atkore

A number of hedge funds have recently made changes to their positions in ATKR. Assenagon Asset Management S.A. bought a new stake in Atkore in the 2nd quarter worth approximately $1,822,000. SummerHaven Investment Management LLC lifted its stake in shares of Atkore by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 4,944 shares of the company's stock valued at $667,000 after purchasing an additional 99 shares during the last quarter. Argent Capital Management LLC boosted its holdings in shares of Atkore by 50.9% in the 2nd quarter. Argent Capital Management LLC now owns 2,088 shares of the company's stock worth $282,000 after purchasing an additional 704 shares during the period. North Growth Management Ltd. increased its position in shares of Atkore by 2.6% during the 2nd quarter. North Growth Management Ltd. now owns 39,000 shares of the company's stock valued at $5,198,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Ceredex Value Advisors LLC raised its holdings in Atkore by 44.3% during the 2nd quarter. Ceredex Value Advisors LLC now owns 66,900 shares of the company's stock valued at $9,027,000 after buying an additional 20,550 shares during the period.

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.