Atkore (NYSE:ATKR) Cut to Buy at StockNews.com

Atkore (NYSE:ATKRGet Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Separately, Royal Bank of Canada raised their price target on Atkore from $129.00 to $139.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 1st.

Shares of ATKR opened at $91.73 on Friday. The business’s fifty day simple moving average is $101.69 and its two-hundred day simple moving average is $101.87. The company has a current ratio of 2.90, a quick ratio of 2.17 and a debt-to-equity ratio of 0.81. Atkore has a 12 month low of $65.80 and a 12 month high of $119.96. The company has a market cap of $4.12 billion, a price-to-earnings ratio of 6.20 and a beta of 2.36.

Atkore (NYSE:ATKRGet Rating) last issued its earnings results on Monday, January 31st. The company reported $4.32 EPS for the quarter. Atkore had a return on equity of 92.67% and a net margin of 21.72%. The business had revenue of $840.80 million for the quarter, compared to the consensus estimate of $768.52 million. During the same period last year, the business posted $1.88 EPS. The company’s revenue was up 64.5% compared to the same quarter last year.

In related news, insider Mark F. Lamps sold 638 shares of the firm’s stock in a transaction on Friday, March 4th. The stock was sold at an average price of $102.95, for a total value of $65,682.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO David Paul Johnson sold 15,500 shares of the firm’s stock in a transaction on Thursday, February 10th. The stock was sold at an average price of $118.35, for a total value of $1,834,425.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,752 shares of company stock worth $2,272,423. Company insiders own 1.96% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Ellevest Inc. raised its holdings in Atkore by 88.4% during the fourth quarter. Ellevest Inc. now owns 243 shares of the company’s stock valued at $27,000 after acquiring an additional 114 shares during the period. Catalyst Capital Advisors LLC raised its holdings in Atkore by 111.1% during the fourth quarter. Catalyst Capital Advisors LLC now owns 266 shares of the company’s stock valued at $30,000 after acquiring an additional 140 shares during the period. Northern Oak Wealth Management Inc. bought a new stake in Atkore during the fourth quarter valued at about $33,000. First Quadrant L P CA bought a new stake in Atkore during the fourth quarter valued at about $34,000. Finally, Banque Cantonale Vaudoise bought a new stake in Atkore during the third quarter valued at about $48,000. 96.87% of the stock is currently owned by institutional investors.

Atkore Company Profile (Get Rating)

Atkore Inc manufactures and sells electrical, safety, and infrastructure products in the United States and internationally. The company offers electrical products, including conduits cables, and installation accessories. It also provides safety and infrastructure solutions, such as metal framing, mechanical pipe, perimeter security, and cable management.

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