Atkore Inc. (NYSE:ATKR) Given Consensus Recommendation of “Moderate Buy” by Analysts

Atkore Inc. (NYSE:ATKR) has earned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $103.17.

A number of brokerages have issued reports on ATKR. KeyCorp cut their target price on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Loop Capital downgraded Atkore from a “buy” rating to a “hold” rating and cut their price target for the stock from $115.00 to $65.00 in a report on Monday, February 10th. Roth Capital upgraded Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Roth Mkm started coverage on Atkore in a research report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 target price on the stock. Finally, B. Riley cut Atkore from a “buy” rating to a “neutral” rating and cut their target price for the company from $135.00 to $84.00 in a research note on Friday, November 22nd.

Insider Activity

In other news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $65.00, for a total value of $32,500.00. Following the completion of the sale, the insider now directly owns 33,760 shares of the company’s stock, valued at approximately $2,194,400. This represents a 1.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.99% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ATKR. Covestor Ltd boosted its stake in Atkore by 63.7% during the 3rd quarter. Covestor Ltd now owns 1,002 shares of the company’s stock valued at $85,000 after purchasing an additional 390 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in shares of Atkore by 46.7% in the third quarter. State of New Jersey Common Pension Fund D now owns 19,804 shares of the company’s stock valued at $1,678,000 after buying an additional 6,300 shares during the period. Versor Investments LP bought a new position in Atkore during the third quarter valued at about $364,000. Entropy Technologies LP grew its holdings in Atkore by 166.4% during the third quarter. Entropy Technologies LP now owns 10,881 shares of the company’s stock worth $922,000 after acquiring an additional 6,796 shares during the period. Finally, Aigen Investment Management LP acquired a new position in Atkore during the third quarter worth about $350,000.

Atkore Price Performance

Shares of NYSE ATKR opened at $65.02 on Friday. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 6.29 and a beta of 2.22. Atkore has a twelve month low of $55.91 and a twelve month high of $194.98. The business has a 50 day simple moving average of $72.44 and a 200-day simple moving average of $82.14.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The firm had revenue of $661.60 million during the quarter, compared to the consensus estimate of $680.77 million. During the same quarter in the previous year, the company posted $4.12 earnings per share. The firm’s revenue was down 17.1% on a year-over-year basis. As a group, equities research analysts expect that Atkore will post 5.79 earnings per share for the current year.

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.28 dividend on an annualized basis and a yield of 1.97%. Atkore’s dividend payout ratio (DPR) is presently 12.39%.

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.