Atkore Inc. (NYSE:ATKR – Get Free Report) has earned an average recommendation of “Hold” from the six brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $143.3333.
A number of analysts have recently issued reports on the stock. Royal Bank Of Canada set a $76.00 target price on shares of Atkore in a research note on Thursday, July 16th. Weiss Ratings upgraded shares of Atkore from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 12th. Roth Capital lowered shares of Atkore from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $85.00 to $92.00 in a report on Tuesday, August 4th. Finally, Wall Street Zen raised shares of Atkore from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th.
Check Out Our Latest Stock Report on ATKR
Insider Transactions at Atkore
Institutional Investors Weigh In On Atkore
Hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers boosted its position in shares of Atkore by 2.8% in the 1st quarter. Cetera Investment Advisers now owns 5,212 shares of the company’s stock worth $307,000 after buying an additional 143 shares in the last quarter. Covestor Ltd increased its holdings in Atkore by 18.8% during the 4th quarter. Covestor Ltd now owns 1,779 shares of the company’s stock valued at $112,000 after acquiring an additional 282 shares in the last quarter. Global Retirement Partners LLC purchased a new position in Atkore during the 2nd quarter valued at about $28,000. ProShare Advisors LLC lifted its holdings in shares of Atkore by 6.7% in the fourth quarter. ProShare Advisors LLC now owns 6,142 shares of the company’s stock valued at $388,000 after purchasing an additional 384 shares in the last quarter. Finally, Baron Wealth Management LLC increased its position in Atkore by 11.7% during the first quarter. Baron Wealth Management LLC now owns 3,707 shares of the company’s stock worth $218,000 after buying an additional 387 shares in the last quarter.
Atkore Price Performance
ATKR stock opened at $94.48 on Tuesday. The stock has a market cap of $3.19 billion, a PE ratio of -19.64 and a beta of 1.68. Atkore has a 12 month low of $53.75 and a 12 month high of $94.63. The company has a 50-day moving average price of $88.23 and a 200 day moving average price of $77.30. The company has a current ratio of 2.73, a quick ratio of 2.04 and a debt-to-equity ratio of 0.59.
Atkore (NYSE:ATKR – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.92 earnings per share (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 during the quarter, compared to the consensus estimate of $756.23 million. During the same quarter last year, the firm earned $2.17 earnings per share. Equities research analysts anticipate that Atkore will post 5.15 earnings per share for the current year.
Atkore Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Tuesday, August 18th were issued a $0.33 dividend. The ex-dividend date was Tuesday, August 18th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.4%. Atkore’s payout ratio is presently -27.44%.
About Atkore
Atkore Inc (NYSE: ATKR) manufactures electrical, safety and infrastructure products for commercial, industrial, data center, utility, transportation and other construction markets. Its portfolio is designed to support the distribution, management and protection of electrical power and communications systems.
The company’s products include electrical conduit and fittings, cable management systems, wire and cable, metal framing, mechanical pipe, fire sprinkler pipe and related infrastructure components.
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