Atkore Inc. (NYSE:ATKR) Stock Has Average Target Price of $143.33 According to Analysts

Atkore Inc. (NYSE:ATKR) has received a consensus recommendation of “Hold” from the six research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $143.33.

ATKR has been the subject of several recent analyst reports. Royal Bank Of Canada set a $76.00 price target on Atkore in a research report on Thursday, July 16th. Wall Street Zen upgraded shares of Atkore from a “hold” rating to a “buy” rating in a research note on Sunday, July 26th. Roth Capital cut shares of Atkore from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $85.00 to $92.00 in a report on Tuesday, August 4th. Finally, Weiss Ratings upgraded shares of Atkore from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 12th.

Insider Transactions at Atkore

In other Atkore news, insider Mark Lamps sold 300 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $93.75, for a total transaction of $28,125.00. Following the sale, the insider directly owned 35,803 shares in the company, valued at approximately $3,356,531.25. This trade represents a 0.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ATKR. GAMMA Investing LLC boosted its position in shares of Atkore by 37.7% during the third quarter. GAMMA Investing LLC now owns 435 shares of the company’s stock valued at $41,000 after buying an additional 119 shares during the last quarter. Tidal Investments LLC lifted its stake in Atkore by 61.8% during the 2nd quarter. Tidal Investments LLC now owns 51,660 shares of the company’s stock valued at $3,928,000 after acquiring an additional 19,729 shares during the period. Engineers Gate Manager LP lifted its stake in Atkore by 723.5% during the 2nd quarter. Engineers Gate Manager LP now owns 57,071 shares of the company’s stock valued at $4,340,000 after acquiring an additional 50,141 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Atkore during the 2nd quarter valued at about $31,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Atkore during the 2nd quarter valued at about $1,008,000.

Atkore Stock Up 0.0%

Shares of Atkore stock opened at $94.84 on Friday. Atkore has a 1 year low of $53.75 and a 1 year high of $94.90. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of -19.72 and a beta of 1.69. The company has a 50-day moving average of $94.09 and a 200 day moving average of $80.69. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.73 and a quick ratio of 2.04.

Atkore (NYSE:ATKR) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.53 by $0.39. Atkore had a negative net margin of 5.55% and a positive return on equity of 10.27%. The business had revenue of $794.80 million for the quarter, compared to analyst estimates of $756.23 million. During the same quarter in the previous year, the firm posted $2.17 earnings per share. As a group, sell-side analysts anticipate that Atkore will post 5.15 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Tuesday, August 18th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Tuesday, August 18th. Atkore’s payout ratio is presently -27.44%.

Atkore Company Profile

Atkore Inc is a manufacturer of electrical, safety and infrastructure products for the construction, industrial and commercial markets. The company supplies systems and components used to manage, protect and route electrical wiring and cable, as well as products that support structural and safety applications.

Its product portfolio includes electrical raceway systems, conduit, fittings, cable management products, wire and cable, mechanical tubing, framing systems, and related safety and infrastructure solutions.