Atkore Inc. (NYSE:ATKR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Atkore Inc. (NYSE:ATKR) have earned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $115.67.

ATKR has been the subject of a number of research reports. B. Riley cut Atkore from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $135.00 to $84.00 in a report on Friday, November 22nd. KeyCorp dropped their price objective on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Roth Capital upgraded shares of Atkore to a “strong-buy” rating in a report on Monday, December 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $102.00 price target (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Finally, Loop Capital cut their price objective on Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd.

Atkore Price Performance

Atkore stock opened at $83.37 on Friday. Atkore has a 1 year low of $76.01 and a 1 year high of $194.98. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.96 and a current ratio of 2.98. The firm has a 50 day moving average price of $88.95 and a 200 day moving average price of $102.03. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 6.60 and a beta of 2.10.

Atkore (NYSE:ATKR) last announced its quarterly earnings data 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). Atkore had a net margin of 14.77% and a return on equity of 32.14%. The company had revenue of $788.30 million for the quarter, compared to analysts’ expectations of $749.49 million. During the same period in the prior year, the firm earned $3.63 earnings per share. The firm’s quarterly revenue was down 9.4% on a year-over-year basis. Sell-side analysts predict that Atkore will post 6.69 earnings per share for the current year.

Atkore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, December 6th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.28 dividend on an annualized basis and a yield of 1.54%. Atkore’s dividend payout ratio (DPR) is presently 10.13%.

Insiders Place Their Bets

In related news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction dated 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. The trade was a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Daniel S. Kelly sold 13,071 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $2,635,530.72. This represents a 32.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,924 shares of company stock worth $1,614,975 in the last three months. 1.99% of the stock is owned by insiders.

Hedge Funds Weigh In On Atkore

Several large investors have recently added to or reduced their stakes in ATKR. Arizona State Retirement System lifted its position in shares of Atkore by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 10,294 shares of the company’s stock worth $1,389,000 after buying an additional 85 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in Atkore by 3.2% in the second quarter. Commonwealth Equity Services LLC now owns 4,115 shares of the company’s stock worth $555,000 after acquiring an additional 129 shares during the last quarter. Cornercap Investment Counsel Inc. lifted its holdings in Atkore by 3.9% in the third quarter. Cornercap Investment Counsel Inc. now owns 5,090 shares of the company’s stock worth $431,000 after acquiring an additional 189 shares during the last quarter. Quarry LP boosted its stake in Atkore by 48.8% in the third quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after acquiring an additional 208 shares during the period. Finally, Glenmede Trust Co. NA grew its holdings in shares of Atkore by 6.0% during the third quarter. Glenmede Trust Co. NA now owns 4,523 shares of the company’s stock valued at $383,000 after purchasing an additional 256 shares during the last quarter.

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.