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

Shares of Atkore Inc. (NYSE:ATKR) have earned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $115.67.

A number of research analysts recently commented on ATKR shares. Roth Capital upgraded Atkore to a “strong-buy” rating in a report on Monday, December 16th. Loop Capital decreased their price objective on Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Roth Mkm started coverage on Atkore in a report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price objective on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 price objective (up from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Finally, B. Riley cut 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, November 22nd.

Insider Transactions at Atkore

In other news, Director Jeri L. Isbell sold 3,353 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $94.03, for a total transaction of $315,282.59. Following the sale, the director now owns 25,585 shares of the company’s stock, valued at approximately $2,405,757.55. This represents a 11.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Daniel S. Kelly sold 13,071 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 27,528 shares in the company, valued at $2,635,530.72. This represents a 32.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, 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.

Hedge Funds Weigh In On Atkore

A number of institutional investors and hedge funds have recently modified their holdings of ATKR. Vanguard Personalized Indexing Management LLC grew its stake in shares of Atkore by 14.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 2,624 shares of the company’s stock worth $354,000 after purchasing an additional 325 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Atkore during the second quarter worth $742,000. Sei Investments Co. boosted its stake in Atkore by 7.4% in the second quarter. Sei Investments Co. now owns 70,795 shares of the company’s stock valued at $9,552,000 after acquiring an additional 4,882 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in Atkore by 32.1% in the second quarter. Summit Trail Advisors LLC now owns 1,549 shares of the company’s stock valued at $209,000 after acquiring an additional 376 shares in the last quarter. Finally, Ensign Peak Advisors Inc boosted its stake in Atkore by 13.4% in the second quarter. Ensign Peak Advisors Inc now owns 12,667 shares of the company’s stock valued at $1,709,000 after acquiring an additional 1,500 shares in the last quarter.

Atkore Trading Down 0.6 %

Shares of Atkore stock opened at $80.62 on Thursday. The stock has a market cap of $2.80 billion, a P/E ratio of 6.38 and a beta of 2.13. The stock’s 50 day simple moving average is $86.31 and its 200-day simple moving average is $93.89. 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 current ratio of 2.98 and a quick ratio of 1.96.

Atkore (NYSE:ATKR) last issued its earnings results on Thursday, November 21st. The company reported $2.02 earnings per share for the quarter, missing the consensus estimate of $2.08 by ($0.06). Atkore had a return on equity of 32.14% and a net margin of 14.77%. The company had revenue of $788.30 million for the quarter, compared to analyst estimates of $749.49 million. During the same quarter in the prior year, the firm earned $3.63 earnings per share. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. Analysts predict that Atkore will post 6.62 EPS for the current fiscal year.

Atkore Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, December 6th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Friday, December 6th. Atkore’s payout ratio is 10.13%.

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.