Atkore (NYSE:ATKR) Price Target Lowered to $93.00 at Royal Bank of Canada

Atkore (NYSE:ATKR) had its price target decreased by Royal Bank of Canada from $99.00 to $93.00 in a research note published on Friday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

A number of other research firms have also recently commented on ATKR. B. Riley cut Atkore from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $135.00 to $84.00 in a report on Friday. KeyCorp reduced their price target on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Finally, Loop Capital reduced their price target on Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Atkore currently has a consensus rating of “Hold” and an average price target of $117.00.

Atkore Price Performance

Shares of NYSE ATKR opened at $89.69 on Friday. Atkore has a fifty-two week low of $76.01 and a fifty-two week high of $194.98. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 7.10 and a beta of 2.13. The business has a 50-day moving average of $87.80 and a 200-day moving average of $113.04.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, December 6th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.28 annualized dividend and a yield of 1.43%. Atkore’s dividend payout ratio (DPR) is presently 10.13%.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 500 shares of the company’s 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 sale, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.56% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ATKR. Arizona State Retirement System grew its holdings in Atkore by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 10,294 shares of the company’s stock worth $1,389,000 after acquiring an additional 85 shares during the period. SummerHaven Investment Management LLC boosted its position in shares of Atkore by 2.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 4,944 shares of the company’s stock worth $667,000 after purchasing an additional 99 shares in the last quarter. Meixler Investment Management Ltd. lifted its position in Atkore by 6.5% in the 2nd quarter. Meixler Investment Management Ltd. now owns 1,947 shares of the company’s stock valued at $263,000 after acquiring an additional 119 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in Atkore by 3.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 4,115 shares of the company’s stock valued at $555,000 after acquiring an additional 129 shares in the last quarter. Finally, Riverwater Partners LLC lifted its position in Atkore by 1.1% in the 2nd quarter. Riverwater Partners LLC now owns 14,310 shares of the company’s stock valued at $1,931,000 after acquiring an additional 159 shares in the last quarter.

Atkore Company Profile

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.