Loop Capital Cuts Atkore (NYSE:ATKR) Price Target to $115.00

Atkore (NYSE:ATKR) had its price objective trimmed by Loop Capital from $130.00 to $115.00 in a report released on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts have also issued research reports about the company. KeyCorp decreased their target price on Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. B. Riley lowered Atkore from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $135.00 to $84.00 in a report on Friday. Finally, Royal Bank of Canada lowered Atkore from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $175.00 to $100.00 in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Atkore currently has an average rating of “Hold” and a consensus price target of $117.00.

Atkore Trading Up 5.3 %

Atkore stock opened at $89.69 on Friday. The company has a current ratio of 3.26, a quick ratio of 2.03 and a debt-to-equity ratio of 0.49. Atkore has a 12 month low of $76.01 and a 12 month high of $194.98. The stock’s 50 day simple moving average is $87.80 and its two-hundred day simple moving average is $113.04. The firm has a market cap of $3.22 billion, a PE ratio of 7.10 and a beta of 2.13.

Atkore Announces Dividend

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

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $96.55, for a total value of $48,275.00. Following the completion of the sale, the insider now directly owns 27,626 shares of the company’s stock, valued at $2,667,290.30. This trade represents a 1.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.56% of the company’s stock.

Institutional Trading of Atkore

Several institutional investors and hedge funds have recently bought and sold shares of ATKR. Hodges Capital Management Inc. purchased a new stake in Atkore during the second quarter worth about $4,158,000. Capital World Investors purchased a new stake in Atkore during the first quarter worth about $14,986,000. Boston Trust Walden Corp purchased a new stake in Atkore during the second quarter worth about $23,306,000. Maverick Capital Ltd. increased its stake in Atkore by 386.9% during the second quarter. Maverick Capital Ltd. now owns 9,709 shares of the company’s stock worth $1,310,000 after purchasing an additional 7,715 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in Atkore by 1.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 449,323 shares of the company’s stock worth $85,535,000 after purchasing an additional 4,852 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.