Atkore (NYSE:ATKR) Hits New 1-Year Low – Time to Sell?

Shares of Atkore Inc. (NYSE:ATKR) hit a new 52-week low during trading on Wednesday . The stock traded as low as $55.91 and last traded at $59.38, with a volume of 771726 shares changing hands. The stock had previously closed at $58.89.

Analysts Set New Price Targets

ATKR has been the topic of several analyst reports. Roth Mkm initiated coverage on Atkore in a report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 target price on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 target price (up from $93.00) on shares of Atkore in a report on Wednesday, December 4th. B. Riley lowered Atkore from a “buy” rating to a “neutral” rating and dropped their price target for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. KeyCorp dropped their price target on Atkore from $105.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Finally, Roth Capital raised Atkore to a “strong-buy” rating in a research note on Monday, December 16th. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.17.

Atkore Price Performance

The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $76.36 and a two-hundred day moving average price of $84.42. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 5.75 and a beta of 2.22.

Atkore (NYSE:ATKR) last issued its earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.45. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The company had revenue of $661.60 million for the quarter, compared to analyst estimates of $680.77 million. During the same period in the prior year, the firm earned $4.12 earnings per share. Atkore’s revenue for the quarter was down 17.1% on a year-over-year basis. As a group, research analysts anticipate that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Tuesday, February 18th. Atkore’s payout ratio is currently 12.39%.

Insider Activity at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $65.00, for a total value of $32,500.00. Following the completion of the sale, the insider now directly owns 33,760 shares of the company’s stock, valued at approximately $2,194,400. This represents a 1.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.99% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Atkore in the 4th quarter valued at $10,207,000. Jefferies Financial Group Inc. bought a new position in Atkore in the 4th quarter valued at $581,000. Mackenzie Financial Corp grew its stake in Atkore by 143.1% in the 4th quarter. Mackenzie Financial Corp now owns 5,938 shares of the company’s stock valued at $496,000 after purchasing an additional 3,495 shares during the period. Vise Technologies Inc. bought a new position in Atkore in the 4th quarter valued at $207,000. Finally, CSS LLC IL grew its stake in Atkore by 14.6% in the 4th quarter. CSS LLC IL now owns 4,129 shares of the company’s stock valued at $345,000 after purchasing an additional 526 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.