StockNews.com Begins Coverage on Atkore (NYSE:ATKR)

StockNews.com began coverage on shares of Atkore (NYSE:ATKR – Get Rating) in a research report released on Thursday. The brokerage issued a buy rating on the stock.

A number of other analysts have also issued reports on ATKR. Citigroup lifted their target price on Atkore from $135.00 to $156.00 and gave the stock a neutral rating in a research report on Thursday, February 2nd. Royal Bank of Canada lifted their target price on Atkore from $139.00 to $177.00 and gave the stock an outperform rating in a research report on Thursday, February 2nd. Loop Capital lifted their target price on Atkore from $150.00 to $170.00 in a research report on Thursday, February 2nd. Finally, B. Riley lifted their target price on Atkore from $146.00 to $161.00 and gave the stock a buy rating in a research report on Thursday, February 2nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $161.40.

Atkore Trading Down 2.4 %

NYSE:ATKR opened at $130.71 on Thursday. The business’s 50-day moving average is $136.77 and its two-hundred day moving average is $112.51. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.96 and a quick ratio of 1.96. Atkore has a 12 month low of $70.50 and a 12 month high of $154.86. The firm has a market capitalization of $5.16 billion, a PE ratio of 6.47 and a beta of 2.22.

Atkore (NYSE:ATKR – Get Rating) last released its quarterly earnings data on Wednesday, February 1st. The company reported $4.51 EPS for the quarter, beating the consensus estimate of $3.80 by $0.71. Atkore had a return on equity of 76.09% and a net margin of 22.58%. The company had revenue of $833.82 million for the quarter, compared to analyst estimates of $820.90 million. Research analysts predict that Atkore will post 15.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO David Paul Johnson sold 10,000 shares of Atkore stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $149.79, for a total value of $1,497,900.00. Following the completion of the transaction, the chief financial officer now directly owns 30,114 shares in the company, valued at $4,510,776.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Atkore news, CFO David Paul Johnson sold 10,000 shares of Atkore stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $149.79, for a total value of $1,497,900.00. Following the completion of the transaction, the chief financial officer now directly owns 30,114 shares in the company, valued at $4,510,776.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John W. Pregenzer sold 4,754 shares of Atkore stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $150.00, for a total value of $713,100.00. Following the completion of the transaction, the insider now owns 26,297 shares of the company’s stock, valued at $3,944,550. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,813 shares of company stock worth $6,997,675. Corporate insiders own 2.11% of the company’s stock.

Hedge Funds Weigh In On Atkore

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Middle East FZE acquired a new position in Atkore in the fourth quarter valued at approximately $51,000. Captrust Financial Advisors boosted its position in shares of Atkore by 85.6% during the second quarter. Captrust Financial Advisors now owns 607 shares of the company’s stock worth $50,000 after buying an additional 280 shares during the period. Rockefeller Capital Management L.P. boosted its position in shares of Atkore by 169.9% during the third quarter. Rockefeller Capital Management L.P. now owns 780 shares of the company’s stock worth $60,000 after buying an additional 491 shares during the period. Ronald Blue Trust Inc. boosted its position in shares of Atkore by 183.8% during the fourth quarter. Ronald Blue Trust Inc. now owns 908 shares of the company’s stock worth $70,000 after buying an additional 588 shares during the period. Finally, Convergence Investment Partners LLC acquired a new position in shares of Atkore during the fourth quarter worth approximately $123,000.

About Atkore

(Get Rating)

Atkore, Inc engages in the manufacture of electrical raceway products. It operates through the Electrical, and Safety and Infrastructure segments. The Electrical segment produces products used in the construction of electrical power systems such as conduit, cable, and installation accessories. The Safety and Infrastructure segment designs and creates solutions including metal framing, mechanical pipe, perimeter security, and cable management for the protection and reliability of critical infrastructure.