Atkore (NYSE:ATKR) PT Raised to $200.00 at Citigroup

Atkore (NYSE:ATKR) had its price target lifted by Citigroup from $176.00 to $200.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com raised shares of Atkore from a hold rating to a buy rating in a research report on Friday, April 5th. Royal Bank of Canada reaffirmed an outperform rating and set a $187.00 price objective on shares of Atkore in a research report on Friday, March 22nd.

Atkore Trading Up 1.3 %

Shares of Atkore stock opened at $175.01 on Monday. The firm has a 50-day moving average of $166.57 and a 200-day moving average of $150.97. The stock has a market cap of $6.43 billion, a PE ratio of 10.49 and a beta of 2.19. Atkore has a 52-week low of $116.14 and a 52-week high of $194.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.99 and a current ratio of 2.96.

Atkore (NYSE:ATKR) last announced its earnings results on Thursday, February 1st. The company reported $4.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.08 by $1.04. The company had revenue of $798.50 million during the quarter, compared to analysts’ expectations of $777.05 million. Atkore had a net margin of 18.80% and a return on equity of 46.79%. Atkore’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.51 earnings per share. As a group, sell-side analysts forecast that Atkore will post 15.06 EPS for the current year.

Atkore Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, February 26th. This represents a $1.28 annualized dividend and a yield of 0.73%. Atkore’s dividend payout ratio is 7.67%.

Insiders Place Their Bets

In other Atkore news, insider John W. Pregenzer sold 6,548 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $158.49, for a total transaction of $1,037,792.52. Following the completion of the transaction, the insider now owns 30,430 shares of the company’s stock, valued at $4,822,850.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Atkore news, CEO William E. Jr. Waltz sold 43,072 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $160.48, for a total transaction of $6,912,194.56. Following the completion of the transaction, the chief executive officer now owns 83,716 shares of the company’s stock, valued at $13,434,743.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John W. Pregenzer sold 6,548 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $158.49, for a total value of $1,037,792.52. Following the transaction, the insider now directly owns 30,430 shares of the company’s stock, valued at approximately $4,822,850.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 148,464 shares of company stock valued at $25,124,751. 2.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ATKR. Raymond James Financial Services Advisors Inc. increased its stake in shares of Atkore by 289.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 16,458 shares of the company’s stock valued at $1,620,000 after buying an additional 12,234 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of Atkore by 108.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,604 shares of the company’s stock valued at $945,000 after buying an additional 4,989 shares during the period. HighTower Advisors LLC increased its stake in shares of Atkore by 2.5% in the first quarter. HighTower Advisors LLC now owns 16,070 shares of the company’s stock valued at $1,582,000 after buying an additional 388 shares during the period. Cetera Advisor Networks LLC acquired a new position in shares of Atkore in the first quarter valued at approximately $223,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Atkore by 12.2% in the first quarter. PNC Financial Services Group Inc. now owns 9,464 shares of the company’s stock valued at $931,000 after buying an additional 1,031 shares during the period.

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.