Atkore Inc. (NYSE:ATKR) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Atkore Inc. (NYSE:ATKR) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $103.17.

A number of equities research analysts have recently weighed in on the company. Roth Capital upgraded Atkore to a “strong-buy” rating in a report on Monday, December 16th. Roth Mkm initiated coverage on shares of Atkore in a research report on Tuesday, December 17th. They set a “buy” rating and a $100.00 price objective on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 target price (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. KeyCorp cut their price target 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. Finally, Loop Capital lowered shares of Atkore from a “buy” rating to a “hold” rating and reduced their price objective for the company from $115.00 to $65.00 in a research note on Monday, February 10th.

Insider Transactions at Atkore

In other news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $65.00, for a total value of $32,500.00. Following the sale, the insider now directly owns 33,760 shares of the company’s stock, valued at approximately $2,194,400. This trade represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Daniel S. Kelly sold 13,071 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total value of $1,251,417.54. Following the transaction, the vice president now directly owns 27,528 shares of the company’s stock, valued at $2,635,530.72. This represents a 32.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,924 shares of company stock worth $1,599,200. 1.99% of the stock is owned by insiders.

Institutional Investors Weigh In On Atkore

Several hedge funds have recently modified their holdings of the business. E. Ohman J or Asset Management AB increased its position in Atkore by 55.2% during the fourth quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company’s stock worth $26,569,000 after acquiring an additional 113,263 shares during the period. Wellington Management Group LLP bought a new position in shares of Atkore during the 3rd quarter worth about $7,916,000. Chase Investment Counsel Corp increased its holdings in shares of Atkore by 97.0% during the 3rd 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 period. Y Intercept Hong Kong Ltd raised its position in shares of Atkore by 729.5% during the third quarter. Y Intercept Hong Kong Ltd now owns 27,831 shares of the company’s stock valued at $2,358,000 after buying an additional 24,476 shares during the last quarter. Finally, M&G PLC bought a new stake in shares of Atkore in the third quarter valued at about $9,123,000.

Atkore Stock Down 2.4 %

ATKR stock opened at $65.68 on Monday. The company has a 50 day moving average of $79.75 and a two-hundred day moving average of $86.57. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 6.36 and a beta of 2.12. Atkore has a 12-month low of $62.62 and a 12-month high of $194.98. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.45. The business had revenue of $661.60 million during the quarter, compared to analyst estimates of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. Atkore’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same period last year, the company earned $4.12 earnings per share. On average, equities analysts anticipate that Atkore will post 5.79 earnings per share for the current fiscal year.

Atkore Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.28 annualized dividend and a yield of 1.95%. 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.