Atkore Inc. (NYSE:ATKR) Given Average Rating of “Hold” by Analysts

Shares of Atkore Inc. (NYSE:ATKR) have received an average rating of “Hold” from the seven research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $70.00.

A number of brokerages have commented on ATKR. KeyCorp reaffirmed a “sector weight” rating on shares of Atkore in a research report on Friday, November 14th. CJS Securities upgraded Atkore to a “strong-buy” rating in a research report on Thursday, December 11th. Citigroup lowered their target price on Atkore from $66.00 to $64.00 and set a “neutral” rating for the company in a report on Friday, November 21st. Roth Capital boosted their price target on Atkore from $65.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, December 15th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Atkore in a research report on Monday, December 29th.

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 1,000 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $64.75, for a total transaction of $64,750.00. Following the transaction, the insider owned 29,923 shares of the company’s stock, valued at $1,937,514.25. This represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dogwood Wealth Management LLC acquired a new stake in Atkore in the second quarter valued at approximately $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Atkore in the 2nd quarter worth $28,000. Kestra Investment Management LLC grew its position in Atkore by 710.9% in the 2nd quarter. Kestra Investment Management LLC now owns 446 shares of the company’s stock valued at $31,000 after purchasing an additional 391 shares during the period. Caitong International Asset Management Co. Ltd grew its position in Atkore by 1,263.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 518 shares of the company’s stock valued at $32,000 after purchasing an additional 480 shares during the period. Finally, Strs Ohio bought a new stake in Atkore during the 1st quarter valued at $36,000.

Atkore Price Performance

Atkore stock opened at $69.64 on Thursday. The stock’s 50 day moving average is $65.15 and its 200 day moving average is $65.43. Atkore has a one year low of $49.92 and a one year high of $89.46. The firm has a market cap of $2.35 billion, a P/E ratio of -133.92 and a beta of 1.58. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.05 and a quick ratio of 2.13.

Atkore (NYSE:ATKR) last released its earnings results on Wednesday, November 19th. The company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $752.01 million for the quarter, compared to analyst estimates of $733.61 million. During the same period in the prior year, the company posted $2.43 EPS. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, research analysts expect that Atkore will post 5.79 EPS for the current year.

Atkore Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Friday, December 5th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, December 5th. Atkore’s dividend payout ratio (DPR) is presently -253.85%.

Atkore Company Profile

Atkore International Group Inc (NYSE: ATKR) is a diversified global manufacturer of electrical raceway and mechanical products, serving a broad range of end markets including commercial construction, industrial facilities and energy infrastructure. The company’s electrical product portfolio encompasses conduit, tubing, fittings, connectors and cable management systems designed for use in residential, commercial and industrial wiring applications. On the mechanical side, Atkore offers pipe support solutions, seismic bracing, HVAC hangers and other mechanical products that address critical building and process piping needs.

Founded as a family-owned business before its reorganization into a standalone public company in 2016, Atkore has grown through both organic investment and targeted acquisitions.