Atkore Inc. (NYSE:ATKR) Receives $79.57 Consensus PT from Analysts

Atkore Inc. (NYSE:ATKR) has been assigned a consensus rating of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $79.57.

Several research analysts have recently commented on ATKR shares. Royal Bank Of Canada raised their price objective on shares of Atkore from $65.00 to $70.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 7th. Wall Street Zen raised shares of Atkore from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Citigroup reaffirmed a “neutral” rating and issued a $80.00 target price (up previously from $70.00) on shares of Atkore in a report on Monday, June 9th. KeyCorp raised their target price on shares of Atkore from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. Finally, Roth Capital set a $78.00 target price on shares of Atkore and gave the company a “buy” rating in a report on Wednesday, May 7th.

Atkore Trading Up 2.3%

NYSE ATKR opened at $70.00 on Friday. The firm has a 50 day simple moving average of $65.79 and a 200-day simple moving average of $70.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 3.02. Atkore has a one year low of $49.92 and a one year high of $153.32. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 13.46 and a beta of 2.06.

Atkore (NYSE:ATKR) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.52 by $0.52. Atkore had a net margin of 6.48% and a return on equity of 20.81%. The business had revenue of $701.73 million during the quarter, compared to analyst estimates of $690.83 million. During the same quarter last year, the firm posted $4.08 earnings per share. The business’s revenue for the quarter was down 11.5% compared to the same quarter last year. Equities research analysts anticipate that Atkore will post 5.79 EPS for the current fiscal year.

Atkore Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Friday, May 16th were issued a dividend of $0.33 per share. The ex-dividend date was Friday, May 16th. This represents a $1.32 dividend on an annualized basis and a yield of 1.89%. This is a boost from Atkore’s previous quarterly dividend of $0.32. Atkore’s dividend payout ratio (DPR) is presently 25.38%.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $69.16, for a total transaction of $69,160.00. Following the sale, the insider now owns 32,828 shares of the company’s stock, valued at approximately $2,270,384.48. This trade represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.99% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Atkore

Institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. increased its holdings in shares of 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 acquiring an additional 259 shares during the period. 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 acquiring an additional 186 shares during the period. GAMMA Investing LLC increased its holdings in shares of 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 acquiring an additional 515 shares during the period. Strs Ohio acquired a new position in shares of Atkore in the 1st quarter valued at $36,000. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Atkore in the 1st quarter valued at $37,000.

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.