Atkore (NYSE:ATKR) Cut to Neutral at B. Riley

Atkore (NYSE:ATKR) was downgraded by investment analysts at B. Riley from a “buy” rating to a “neutral” rating in a research note issued on Friday, Marketbeat Ratings reports. They presently have a $84.00 target price on the stock, down from their previous target price of $135.00. B. Riley’s price target indicates a potential downside of 6.34% from the stock’s previous close.

ATKR has been the topic of a number of other reports. Royal Bank of Canada downgraded shares of Atkore from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $175.00 to $100.00 in a research report on Wednesday, August 7th. Loop Capital cut their price objective on shares of Atkore from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Finally, KeyCorp lowered their target price on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $117.00.

Atkore Price Performance

Shares of ATKR stock opened at $89.69 on Friday. The business’s fifty day moving average is $87.80 and its 200 day moving average is $113.33. The company has a quick ratio of 2.03, a current ratio of 3.26 and a debt-to-equity ratio of 0.49. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of 7.08 and a beta of 2.13. Atkore has a twelve month low of $76.01 and a twelve month high of $194.98.

Insiders Place Their Bets

In other 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 transaction, the insider now directly owns 27,626 shares of the company’s stock, valued at $2,667,290.30. This represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.56% of the company’s stock.

Hedge Funds Weigh In On Atkore

Hedge funds have recently bought and sold shares of the business. Hodges Capital Management Inc. purchased a new position in shares of Atkore during the second quarter valued at approximately $4,158,000. Capital World Investors bought a new position in shares of Atkore during the 1st quarter valued at $14,986,000. Boston Trust Walden Corp bought a new position in shares of Atkore during the 2nd quarter valued at $23,306,000. Maverick Capital Ltd. boosted its stake in shares of Atkore by 386.9% in the 2nd quarter. Maverick Capital Ltd. now owns 9,709 shares of the company’s stock worth $1,310,000 after buying an additional 7,715 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Atkore by 1.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 449,323 shares of the company’s stock worth $85,535,000 after acquiring an additional 4,852 shares during the period.

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.