Roth Mkm Begins Coverage on Atkore (NYSE:ATKR)

Equities researchers at Roth Mkm started coverage on shares of Atkore (NYSE:ATKR - Get Free Report) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage set a "buy" rating and a $100.00 price target on the stock. Roth Mkm's target price suggests a potential upside of 17.30% from the company's current price.

Other equities research analysts also recently issued research reports about the stock. KeyCorp lowered their target price on shares of Atkore from $125.00 to $105.00 and set an "overweight" rating for the company in a research note on Friday, September 13th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $102.00 price objective (up from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Loop Capital reduced their price target on Atkore from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Friday, November 22nd. Finally, B. Riley downgraded shares of Atkore from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $135.00 to $84.00 in a research report on Friday, November 22nd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $115.67.

Atkore Stock Performance

ATKR stock traded up $0.64 during midday trading on Tuesday, hitting $85.25. The stock had a trading volume of 763,798 shares, compared to its average volume of 631,802. Atkore has a 52 week low of $76.01 and a 52 week high of $194.98. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 6.70 and a beta of 2.10. 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 50-day simple moving average of $89.61 and a 200 day simple moving average of $105.54.

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

Insider Activity

In other news, VP Daniel S. Kelly sold 13,071 shares of the company's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $95.74, for a total value of $1,251,417.54. Following the completion of the sale, the vice president now owns 27,528 shares of the company's stock, valued at approximately $2,635,530.72. This represents a 32.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $96.55, for a total value 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 trade represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,924 shares of company stock worth $1,614,975 over the last 90 days. 2.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC grew its stake in shares of Atkore by 445.6% in the third quarter. Signaturefd LLC now owns 491 shares of the company's stock worth $42,000 after acquiring an additional 401 shares during the period. Quarry LP boosted its position in shares of Atkore by 48.8% during the 3rd quarter. Quarry LP now owns 634 shares of the company's stock valued at $54,000 after acquiring an additional 208 shares during the last quarter. Covestor Ltd grew its stake in shares of Atkore by 63.7% in the 3rd quarter. Covestor Ltd now owns 1,002 shares of the company's stock worth $85,000 after buying an additional 390 shares in the last quarter. Headlands Technologies LLC raised 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 purchasing an additional 805 shares during the period. Finally, Pinnacle Associates Ltd. bought a new stake in shares of Atkore in the 3rd quarter worth about $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.