Atkore Inc. (NYSE:ATKR) Receives $74.00 Average PT from Analysts

Shares of Atkore Inc. (NYSE:ATKR) have earned a consensus recommendation of “Hold” from the seven research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $70.00.

A number of equities research analysts have commented on ATKR shares. KeyCorp reiterated a “sector weight” rating on shares of Atkore in a report on Friday, November 14th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Atkore in a research note on Monday. Citigroup dropped their price objective on Atkore from $66.00 to $64.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. Roth Capital upped their target price on shares of Atkore from $65.00 to $71.00 and gave the company a “buy” rating in a report on Monday. Finally, CJS Securities raised shares of Atkore to a “strong-buy” rating in a research note on Thursday, December 11th.

Atkore Stock Performance

Shares of ATKR opened at $64.07 on Friday. Atkore has a 12-month low of $49.92 and a 12-month high of $89.46. The stock has a market cap of $2.16 billion, a P/E ratio of -123.20 and a beta of 1.57. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average of $65.64 and a two-hundred day moving average of $65.75.

Atkore (NYSE:ATKR) last released its quarterly earnings results on Wednesday, November 19th. The company reported $0.69 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.61). Atkore had a negative net margin of 0.53% and a positive return on equity of 12.98%. The business had revenue of $752.01 million during the quarter, compared to analyst estimates of $733.61 million. During the same quarter in the prior year, the company earned $2.43 earnings per share. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, research analysts predict that Atkore will post 5.79 EPS for the current fiscal year.

Atkore Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Friday, December 5th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, December 5th. Atkore’s payout ratio is presently -253.85%.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $64.75, for a total value of $64,750.00. Following the completion of the transaction, the insider directly owned 29,923 shares in the company, valued at approximately $1,937,514.25. The trade was a 3.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.99% of the company’s stock.

Hedge Funds Weigh In On Atkore

A number of hedge funds have recently made changes to their positions in ATKR. Dogwood Wealth Management LLC purchased a new stake in shares of Atkore during the 2nd quarter valued at $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Atkore during the second quarter valued at about $28,000. Kestra Investment Management LLC grew its position in Atkore by 710.9% during the second quarter. Kestra Investment Management LLC now owns 446 shares of the company’s stock valued at $31,000 after acquiring an additional 391 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in Atkore by 1,263.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 518 shares of the company’s stock worth $32,000 after acquiring an additional 480 shares during the last quarter. Finally, Strs Ohio purchased a new position in shares of Atkore in the 1st quarter worth about $36,000.

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.