Atkore Inc. (ATKR) – What Are Brokerages Saying About This Stock?

Shares of Atkore Inc. (NYSE:ATKR) have been assigned an average rating of “Hold” from the six analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $143.33.

Several research analysts have weighed in on the company. Roth Capital downgraded Atkore from a “buy” rating to a “neutral” rating and lifted their target price for the company from $85.00 to $92.00 in a research note on Tuesday, August 4th. Weiss Ratings upgraded Atkore from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 12th. Royal Bank Of Canada set a $76.00 price target on Atkore in a research note on Thursday, July 16th. Finally, Wall Street Zen raised Atkore from a “hold” rating to a “buy” rating in a report on Sunday, July 26th.

Insider Transactions at Atkore

In other Atkore news, insider Mark Lamps sold 300 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $93.75, for a total transaction of $28,125.00. Following the completion of the transaction, the insider owned 35,803 shares in the company, valued at approximately $3,356,531.25. This represents a 0.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Atkore

Several hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Atkore by 37.7% during the third quarter. GAMMA Investing LLC now owns 435 shares of the company’s stock worth $41,000 after acquiring an additional 119 shares during the period. Cetera Investment Advisers raised its holdings in Atkore by 2.8% during the first quarter. Cetera Investment Advisers now owns 5,212 shares of the company’s stock worth $307,000 after purchasing an additional 143 shares in the last quarter. Signaturefd LLC raised its holdings in Atkore by 97.6% during the third quarter. Signaturefd LLC now owns 336 shares of the company’s stock worth $32,000 after purchasing an additional 166 shares in the last quarter. Global Retirement Partners LLC purchased a new position in Atkore during the second quarter worth about $28,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in Atkore in the second quarter valued at about $31,000.

Atkore Stock Performance

Shares of ATKR stock opened at $94.97 on Wednesday. The stock’s 50-day moving average price is $94.53 and its 200 day moving average price is $78.53. The company has a quick ratio of 2.04, a current ratio of 2.73 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $3.21 billion, a PE ratio of -19.74 and a beta of 1.69. Atkore has a 52-week low of $53.75 and a 52-week high of $94.97.

Atkore (NYSE:ATKR) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.39. Atkore had a positive return on equity of 10.27% and a negative net margin of 5.55%. The company had revenue of $794.80 million during the quarter, compared to analysts’ expectations of $756.23 million. During the same period last year, the firm earned $2.17 EPS. As a group, equities research analysts forecast that Atkore will post 5.15 EPS for the current year.

About Atkore

Atkore Inc (NYSE:ATKR) manufactures products used in electrical, safety and infrastructure applications. Its portfolio includes electrical raceway systems, cable management products, conduit, fittings, wire and cable, mechanical pipe, and related engineered solutions. These products help protect and route electrical wiring and support power distribution, communications, commercial construction, industrial facilities and infrastructure projects.

The company serves electrical, industrial, construction and infrastructure customers through a portfolio of brands and manufacturing facilities.