Atkore Inc. (NYSE:ATKR) Receives $75.00 Consensus Target Price from Analysts

Shares of Atkore Inc. (NYSE:ATKR) have earned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $75.00.

A number of equities analysts recently issued reports on the stock. KeyCorp decreased their target price on shares of Atkore from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Loop Capital lowered shares of Atkore from a “buy” rating to a “hold” rating and lowered their price objective for the company from $115.00 to $65.00 in a research note on Monday, February 10th. Royal Bank of Canada upped their target price on Atkore from $64.00 to $65.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 22nd. Finally, Citigroup lowered their price target on Atkore from $78.00 to $66.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th.

Insiders Place Their Bets

In other news, insider Mark F. Lamps sold 500 shares of the firm’s 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 owns 33,760 shares of the company’s stock, valued at $2,194,400. This trade represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.99% of the company’s stock.

Institutional Investors Weigh In On Atkore

Hedge funds have recently bought and sold shares of the business. Jones Financial Companies Lllp increased its holdings in shares of 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. Harbor Capital Advisors Inc. increased its stake in Atkore by 97.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 526 shares of the company’s stock valued at $32,000 after buying an additional 259 shares during the period. GAMMA Investing LLC lifted its position in Atkore by 1,514.7% in the 1st quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock worth $33,000 after buying an additional 515 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Atkore by 358.9% during the 1st quarter. Versant Capital Management Inc now owns 693 shares of the company’s stock valued at $42,000 after buying an additional 542 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in shares of Atkore by 30.2% during the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock valued at $70,000 after acquiring an additional 195 shares in the last quarter.

Atkore Price Performance

Shares of NYSE:ATKR opened at $66.85 on Friday. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. The firm’s 50 day moving average is $61.23 and its two-hundred day moving average is $75.76. The firm has a market capitalization of $2.32 billion, a P/E ratio of 6.47 and a beta of 2.10. Atkore has a 52 week low of $49.92 and a 52 week high of $180.62.

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 analysts’ consensus estimates of $1.05 by $0.45. The company had revenue of $661.60 million during the quarter, compared to analyst estimates of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The firm’s quarterly revenue was down 17.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.12 EPS. Analysts anticipate that Atkore will post 5.79 earnings per share for the current year.

Atkore Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Friday, May 16th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.97%. The ex-dividend date is Friday, May 16th. This is an increase from Atkore’s previous quarterly dividend of $0.32. Atkore’s payout ratio is presently 12.78%.

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.