Atkore Inc. (NYSE:ATKR) Receives $79.57 Consensus Price Target from Analysts

Shares of Atkore Inc. (NYSE:ATKR - Get Free Report) have been assigned a consensus recommendation of "Hold" from the seven ratings firms that are covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $79.57.

ATKR has been the topic of a number of research reports. Roth Capital set a $78.00 target price on shares of Atkore and gave the company a "buy" rating in a research report on Wednesday, May 7th. Royal Bank Of Canada increased their price objective on shares of Atkore from $65.00 to $70.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 7th. Wall Street Zen raised shares of Atkore from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Citigroup restated a "neutral" rating and set a $80.00 target price (up previously from $70.00) on shares of Atkore in a report on Monday, June 9th. Finally, KeyCorp lifted their price target on Atkore from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th.

Atkore Trading Up 0.2%

NYSE:ATKR traded up $0.17 during midday trading on Friday, hitting $70.06. The stock had a trading volume of 291,849 shares, compared to its average volume of 663,021. The stock has a 50-day moving average of $66.05 and a 200 day moving average of $70.07. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 8.01 and a beta of 2.06. Atkore has a one year low of $49.92 and a one year high of $153.32. The company has a quick ratio of 1.98, a current ratio of 3.02 and a debt-to-equity ratio of 0.54.

Atkore (NYSE:ATKR - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.52. The business had revenue of $701.73 million during the quarter, compared to analysts' expectations of $690.83 million. Atkore had a return on equity of 20.81% and a net margin of 6.48%. The business's revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period in the prior year, the business earned $4.08 EPS. As a group, sell-side analysts forecast that Atkore will post 5.79 EPS for the current year.

Atkore Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Friday, May 16th were paid a $0.33 dividend. The ex-dividend date of this dividend was Friday, May 16th. This is a boost from Atkore's previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a yield of 1.88%. Atkore's dividend payout ratio (DPR) is 25.38%.

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 1,000 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $69.16, for a total value of $69,160.00. Following the transaction, the insider now directly owns 32,828 shares of the company's stock, valued at approximately $2,270,384.48. This represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.99% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Atkore

Hedge funds and other institutional investors have recently bought and sold shares of the business. Gates Capital Management Inc. lifted its stake in Atkore by 25.2% during the 1st quarter. Gates Capital Management Inc. now owns 3,265,061 shares of the company's stock valued at $195,871,000 after acquiring an additional 657,707 shares during the period. First Trust Advisors LP lifted its position in Atkore by 195.6% during the fourth quarter. First Trust Advisors LP now owns 1,174,464 shares of the company's stock valued at $98,009,000 after purchasing an additional 777,113 shares during the period. Dimensional Fund Advisors LP lifted its position in Atkore by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,090,817 shares of the company's stock valued at $91,028,000 after purchasing an additional 6,234 shares during the period. LSV Asset Management boosted its holdings in Atkore by 24.2% in the fourth quarter. LSV Asset Management now owns 924,100 shares of the company's stock valued at $77,116,000 after purchasing an additional 180,160 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Atkore by 7.2% in the first quarter. American Century Companies Inc. now owns 840,505 shares of the company's stock valued at $50,422,000 after purchasing an additional 56,692 shares during the last quarter.

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.