Atkore Inc. (NYSE:ATKR) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Atkore Inc. (NYSE:ATKR) have been assigned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $75.00.

ATKR has been the subject of several research analyst reports. KeyCorp reduced their price target on shares of Atkore from $80.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Royal Bank of Canada boosted their price target on Atkore from $64.00 to $65.00 and gave the company a “sector perform” rating in a report on Tuesday, April 22nd. Loop Capital downgraded Atkore from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $115.00 to $65.00 in a report on Monday, February 10th. Finally, Citigroup reduced their price target on Atkore from $78.00 to $66.00 and set a “neutral” rating for the company in a research report on Monday, April 14th.

Atkore Price Performance

Shares of ATKR stock opened at $65.80 on Friday. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 6.37 and a beta of 2.02. Atkore has a 12-month low of $49.92 and a 12-month high of $180.62. 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 firm has a fifty day moving average of $61.15 and a 200-day moving average of $76.10.

Atkore (NYSE:ATKR) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $680.77 million. During the same period in the prior year, the company earned $4.12 earnings per share. The company’s revenue for the quarter was down 17.1% compared to the same quarter last year. On average, equities research analysts forecast that Atkore will post 5.79 earnings per share for the current year.

Atkore Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Friday, May 16th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.01%. This is a boost from Atkore’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, May 16th. Atkore’s dividend payout ratio is presently 12.39%.

Insider Buying and Selling

In other Atkore news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $65.00, for a total value of $32,500.00. Following the transaction, the insider now directly owns 33,760 shares in the company, valued at $2,194,400. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.99% of the stock is currently owned by corporate insiders.

Institutional Trading of Atkore

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. lifted its position in Atkore by 97.0% during the first quarter. Harbor Capital Advisors Inc. now owns 526 shares of the company’s stock worth $32,000 after acquiring an additional 259 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Atkore by 87.7% in the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock valued at $33,000 after purchasing an additional 186 shares during the period. GAMMA Investing LLC grew its holdings in Atkore by 1,514.7% in the 1st quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock valued at $33,000 after buying an additional 515 shares in the last quarter. Versant Capital Management Inc increased its position in Atkore by 358.9% during the 1st quarter. Versant Capital Management Inc now owns 693 shares of the company’s stock worth $42,000 after buying an additional 542 shares during the period. Finally, Signaturefd LLC lifted its holdings in shares of Atkore by 384.0% during the first quarter. Signaturefd LLC now owns 905 shares of the company’s stock worth $54,000 after buying an additional 718 shares in the last quarter.

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.