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

Atkore Inc. (NYSE:ATKR) has earned a consensus rating of “Hold” from the seven research firms that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $79.5714.

A number of research analysts recently weighed in on ATKR shares. Wall Street Zen upgraded shares of Atkore from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Citigroup reiterated a “neutral” rating and issued a $80.00 price target (up previously from $70.00) on shares of Atkore in a research note on Monday, June 9th. Finally, KeyCorp restated a “sector weight” rating on shares of Atkore in a report on Wednesday, August 6th.

Atkore Price Performance

Shares of ATKR opened at $59.19 on Friday. Atkore has a twelve month low of $49.92 and a twelve month high of $105.28. The company has a quick ratio of 2.08, a current ratio of 3.09 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average of $66.90 and a 200 day moving average of $65.07. The company has a market capitalization of $1.99 billion, a P/E ratio of 18.97 and a beta of 2.16.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Tuesday, August 19th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Tuesday, August 19th. Atkore’s dividend payout ratio is currently 42.31%.

Insider Activity

In other news, insider Mark F. Lamps sold 1,000 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $59.37, for a total transaction of $59,370.00. Following the transaction, the insider directly owned 31,873 shares in the company, valued at approximately $1,892,300.01. This trade represents a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.99% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Gates Capital Management Inc. increased its holdings in Atkore by 25.2% in the first quarter. Gates Capital Management Inc. now owns 3,265,061 shares of the company’s stock valued at $195,871,000 after buying an additional 657,707 shares in the last quarter. First Trust Advisors LP grew its stake in Atkore by 13.9% during the 2nd quarter. First Trust Advisors LP now owns 1,757,797 shares of the company’s stock valued at $124,013,000 after acquiring an additional 213,858 shares in the last quarter. American Century Companies Inc. boosted its holdings in Atkore by 20.6% in the 2nd quarter. American Century Companies Inc. now owns 1,013,259 shares of the company’s stock valued at $71,485,000 after purchasing an additional 172,754 shares during the last quarter. River Road Asset Management LLC boosted its holdings in Atkore by 1.0% in the 2nd quarter. River Road Asset Management LLC now owns 792,427 shares of the company’s stock valued at $61,033,000 after purchasing an additional 8,106 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Atkore by 24.1% in the 1st quarter. Wellington Management Group LLP now owns 753,107 shares of the company’s stock worth $45,179,000 after acquiring an additional 146,066 shares during 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.