KeyCorp Cuts Atkore (NYSE:ATKR) Price Target to $80.00

Atkore (NYSE:ATKR) had its target price decreased by KeyCorp from $105.00 to $80.00 in a research report sent to investors on Wednesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Roth Capital raised shares of Atkore to a “strong-buy” rating in a report on Monday, December 16th. Loop Capital reduced their price objective on shares of Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. B. Riley lowered Atkore from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $135.00 to $84.00 in a research report on Friday, November 22nd. Roth Mkm started coverage on Atkore in a research report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target on the stock. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $102.00 price objective (up from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.50.

Atkore Stock Down 0.4 %

Shares of ATKR opened at $65.30 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.96 and a current ratio of 2.98. Atkore has a 52 week low of $62.62 and a 52 week high of $194.98. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 5.17 and a beta of 2.12. The stock has a fifty day moving average of $84.05 and a 200-day moving average of $91.14.

Atkore (NYSE:ATKR) last posted its earnings results on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.05 by $0.45. The firm had revenue of $661.60 million during the quarter, compared to the consensus estimate of $680.77 million. Atkore had a return on equity of 32.14% and a net margin of 14.77%. The business’s quarterly revenue was down 17.1% on a year-over-year basis. During the same period last year, the company earned $4.12 earnings per share. As a group, sell-side analysts anticipate that Atkore will post 6.62 earnings per share for the current fiscal year.

Atkore Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be paid 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 1.96%. Atkore’s dividend payout ratio is currently 10.13%.

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $96.55, for a total transaction of $48,275.00. Following the transaction, the insider now owns 27,626 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Also, VP Daniel S. Kelly sold 13,071 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $95.74, for a total value of $1,251,417.54. Following the completion of the sale, the vice president now owns 27,528 shares of the company’s stock, valued at approximately $2,635,530.72. This represents a 32.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,924 shares of company stock valued at $1,614,975. 1.99% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Atkore

Hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in Atkore by 10.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company’s stock valued at $111,467,000 after purchasing an additional 134,517 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Atkore by 10.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 530,170 shares of the company’s stock valued at $44,243,000 after buying an additional 50,194 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Atkore by 3,948.4% during the fourth quarter. Victory Capital Management Inc. now owns 470,830 shares of the company’s stock valued at $39,291,000 after buying an additional 459,200 shares during the last quarter. Royce & Associates LP increased its position in shares of Atkore by 20.2% during the third quarter. Royce & Associates LP now owns 396,054 shares of the company’s stock worth $33,562,000 after acquiring an additional 66,533 shares in the last quarter. Finally, E. Ohman J or Asset Management AB raised its holdings in shares of Atkore by 55.2% in the 4th 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 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.