Brokerages Set Atkore Inc. (NYSE:ATKR) Target Price at $75.00

Shares of Atkore Inc. (NYSE:ATKR - Get Free Report) have been assigned an average rating of "Hold" from the seven brokerages that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $77.57.

Several brokerages have issued reports on ATKR. Roth Capital set a $78.00 target price on Atkore and gave the stock a "buy" rating in a research report on Wednesday. Royal Bank of Canada boosted their target price on shares of Atkore from $65.00 to $70.00 and gave the company a "sector perform" rating in a research report on Wednesday. Loop Capital cut Atkore from a "buy" rating to a "hold" rating and reduced their price target for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. KeyCorp increased their price target on Atkore from $70.00 to $80.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Citigroup reduced their target price on shares of Atkore from $78.00 to $66.00 and set a "neutral" rating on the stock in a report on Monday, April 14th.

Insider Transactions at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $65.00, for a total transaction of $32,500.00. Following the completion of the sale, the insider now owns 33,760 shares of the company's stock, valued at $2,194,400. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.99% of the company's stock.

Institutional Trading of Atkore

Several large investors have recently bought and sold shares of the stock. E. Ohman J or Asset Management AB boosted its position in Atkore by 55.2% in the fourth quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company's stock valued at $26,569,000 after buying an additional 113,263 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Atkore by 10.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company's stock worth $111,467,000 after purchasing an additional 134,517 shares during the period. Barclays PLC boosted its stake in shares of Atkore by 50.2% in the third quarter. Barclays PLC now owns 70,736 shares of the company's stock worth $5,994,000 after buying an additional 23,628 shares during the last quarter. Tidal Investments LLC grew its position in shares of Atkore by 38.7% during the 3rd quarter. Tidal Investments LLC now owns 23,744 shares of the company's stock valued at $2,012,000 after acquiring an additional 6,628 shares during the period. Finally, Swedbank AB increased its holdings in Atkore by 18.4% in the 4th quarter. Swedbank AB now owns 296,791 shares of the company's stock worth $24,767,000 after acquiring an additional 46,200 shares in the last quarter.

Atkore Stock Performance

Shares of ATKR stock traded up $1.15 during trading hours on Friday, reaching $68.30. The company had a trading volume of 110,386 shares, compared to its average volume of 690,291. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03. The business has a fifty day moving average price of $61.40 and a 200-day moving average price of $75.63. Atkore has a one year low of $49.92 and a one year high of $163.12. The firm has a market cap of $2.37 billion, a PE ratio of 6.61 and a beta of 2.10.

Atkore (NYSE:ATKR - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $2.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.52 by $0.52. The business had revenue of $701.73 million during the quarter, compared to analyst estimates of $690.83 million. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The company's quarterly revenue was down 11.5% compared to the same quarter last year. During the same period in the previous year, the business earned $4.08 EPS. Sell-side analysts predict that Atkore will post 5.79 earnings per share for the current fiscal year.

Atkore Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Friday, May 16th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.93%. The ex-dividend date is Friday, May 16th. This is a boost from Atkore's previous quarterly dividend of $0.32. Atkore's dividend payout ratio (DPR) is 25.38%.

About Atkore

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.