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

Atkore (NYSE:ATKR) had its target price reduced by Royal Bank of Canada from $99.00 to $93.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other equities research analysts have also issued reports on the company. Loop Capital cut their target price on Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday. KeyCorp cut 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, B. Riley cut Atkore from a “buy” rating to a “neutral” rating and cut their price target for the company from $135.00 to $84.00 in a report on Friday. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $117.00.

Atkore Stock Up 5.3 %

ATKR opened at $89.69 on Friday. Atkore has a one year low of $76.01 and a one year high of $194.98. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.03 and a current ratio of 3.26. The stock’s fifty day moving average is $87.80 and its 200-day moving average is $113.04. The company has a market capitalization of $3.22 billion, a PE ratio of 7.10 and a beta of 2.13.

Atkore Announces Dividend

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

Insider Activity

In related news, insider Mark F. Lamps sold 500 shares of the stock in a transaction that occurred 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.56% of the company’s stock.

Institutional Investors Weigh In On Atkore

Large investors have recently bought and sold shares of the business. Quarry LP bought a new position in Atkore in the 2nd quarter valued at $57,000. Mather Group LLC. boosted its position in Atkore by 895.7% in the 2nd quarter. Mather Group LLC. now owns 468 shares of the company’s stock valued at $63,000 after buying an additional 421 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Atkore by 445.6% in the 3rd quarter. Signaturefd LLC now owns 491 shares of the company’s stock valued at $42,000 after purchasing an additional 401 shares during the period. Headlands Technologies LLC lifted its stake in shares of Atkore by 829.9% in the 2nd quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock valued at $122,000 after purchasing an additional 805 shares during the period. Finally, Covestor Ltd lifted its stake in shares of Atkore by 63.7% in 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 during the period.

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.