Atkore (NYSE:ATKR) Research Coverage Started at Roth Mkm

Roth Mkm initiated coverage on shares of Atkore (NYSE:ATKR) in a research note published on Tuesday morning, MarketBeat reports. The firm issued a buy rating and a $100.00 price objective on the stock.

ATKR has been the topic of a number of other research reports. 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 dropped their price objective on shares of Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. B. Riley downgraded shares of Atkore from a “buy” rating to a “neutral” rating and decreased their target price for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 price target (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Atkore currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.67.

Atkore Price Performance

ATKR stock opened at $82.72 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.98 and a quick ratio of 1.96. Atkore has a 1 year low of $76.01 and a 1 year high of $194.98. The firm has a 50-day moving average of $89.48 and a 200 day moving average of $104.76. The company has a market cap of $2.89 billion, a P/E ratio of 6.55 and a beta of 2.10.

Atkore (NYSE:ATKR) last announced its earnings results on Thursday, November 21st. The company reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.06). The firm 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%. The firm’s revenue was down 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.63 EPS. On average, sell-side analysts forecast that Atkore will post 6.69 EPS for the current year.

Atkore Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, December 6th were issued a $0.32 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.28 dividend on an annualized basis and a yield of 1.55%. Atkore’s payout ratio is currently 10.13%.

Insider Buying and Selling at Atkore

In other Atkore news, Director Jeri L. Isbell sold 3,353 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total transaction of $315,282.59. Following the transaction, the director now owns 25,585 shares in the company, valued at approximately $2,405,757.55. This represents a 11.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $96.55, for a total transaction of $48,275.00. Following the sale, the insider now directly owns 27,626 shares in the company, valued at approximately $2,667,290.30. The trade was a 1.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,924 shares of company stock worth $1,614,975. Insiders own 2.56% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hodges Capital Management Inc. bought a new position in shares of Atkore during the 2nd quarter valued at $4,158,000. Maverick Capital Ltd. lifted its holdings in Atkore by 386.9% in the second quarter. Maverick Capital Ltd. now owns 9,709 shares of the company’s stock valued at $1,310,000 after acquiring an additional 7,715 shares during the period. Chase Investment Counsel Corp boosted its position in Atkore by 97.0% in the third quarter. Chase Investment Counsel Corp now owns 13,000 shares of the company’s stock worth $1,101,000 after purchasing an additional 6,400 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in shares of Atkore during the 2nd quarter valued at about $3,095,000. Finally, Wellington Management Group LLP bought a new stake in shares of Atkore during the 3rd quarter valued at about $7,916,000.

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.