Atkore Inc. (NYSE:ATKR) Given Average Recommendation of "Hold" by Brokerages

Atkore Inc. (NYSE:ATKR - Get Free Report) has earned an average recommendation of "Hold" from the seven research firms that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $79.5714.

ATKR has been the subject of a number of analyst reports. KeyCorp reissued a "sector weight" rating on shares of Atkore in a research report on Wednesday, August 6th. Citigroup reaffirmed a "neutral" rating and issued a $80.00 price target (up from $70.00) on shares of Atkore in a report on Monday, June 9th. Royal Bank Of Canada upped their price target on Atkore from $65.00 to $70.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. Roth Capital set a $78.00 price target on Atkore and gave the company a "buy" rating in a report on Wednesday, May 7th. Finally, Wall Street Zen raised Atkore from a "hold" rating to a "buy" rating in a report on Monday, May 12th.

Atkore Stock Down 0.7%

Shares of Atkore stock traded down $0.43 on Monday, reaching $58.77. 99,468 shares of the company were exchanged, compared to its average volume of 606,425. Atkore has a 1-year low of $49.92 and a 1-year high of $105.28. The company has a market cap of $1.98 billion, a P/E ratio of 18.88 and a beta of 2.10. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.09 and a quick ratio of 2.08. The stock's 50 day moving average price is $70.12 and its 200-day moving average price is $66.70.

Atkore Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Tuesday, August 19th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, August 19th. Atkore's dividend payout ratio is presently 42.31%.

Institutional Investors Weigh In On Atkore

Several large investors have recently modified their holdings of ATKR. First Trust Advisors LP boosted its holdings in shares of Atkore by 195.6% in the fourth quarter. First Trust Advisors LP now owns 1,174,464 shares of the company's stock valued at $98,009,000 after acquiring an additional 777,113 shares during the period. Gates Capital Management Inc. boosted its holdings in shares of Atkore by 25.2% in the first 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. Wellington Management Group LLP boosted its holdings in shares of Atkore by 549.9% in the fourth quarter. Wellington Management Group LLP now owns 607,041 shares of the company's stock valued at $50,658,000 after acquiring an additional 513,631 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Atkore by 43,389.8% in the first quarter. Pacer Advisors Inc. now owns 365,749 shares of the company's stock valued at $21,941,000 after acquiring an additional 364,908 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Atkore in the second quarter valued at approximately $21,453,000.

Atkore Company Profile

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.