Analysts Set Atkore Inc. (NYSE:ATKR) Target Price at $103.17

Atkore Inc. (NYSE:ATKR - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $101.50.

ATKR has been the subject of several recent analyst reports. Loop Capital cut shares of Atkore from a "buy" rating to a "hold" rating and reduced their price objective for the company from $115.00 to $65.00 in a research note on Monday, February 10th. Roth Mkm began coverage on shares of Atkore in a report on Tuesday, December 17th. They issued a "buy" rating and a $100.00 price target for the company. KeyCorp decreased their price target on shares of Atkore from $80.00 to $70.00 and set an "overweight" rating on the stock in a report on Tuesday. Finally, Roth Capital raised Atkore to a "strong-buy" rating in a research note on Monday, December 16th.

Insider Activity at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $65.00, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.99% of the stock is owned by insiders.

Institutional Investors Weigh In On Atkore

Hedge funds have recently made changes to their positions in the business. First Trust Advisors LP boosted its holdings in Atkore by 195.6% during the 4th 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. lifted its position in Atkore by 29.6% in the fourth quarter. Gates Capital Management Inc. now owns 2,607,354 shares of the company's stock valued at $217,584,000 after purchasing an additional 595,774 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Atkore by 549.9% during the fourth quarter. Wellington Management Group LLP now owns 607,041 shares of the company's stock valued at $50,658,000 after purchasing an additional 513,631 shares during the period. Norges Bank bought a new position in shares of Atkore in the fourth quarter worth approximately $42,339,000. Finally, Victory Capital Management Inc. increased its stake in shares of Atkore by 3,948.4% in the fourth quarter. Victory Capital Management Inc. now owns 470,830 shares of the company's stock worth $39,291,000 after buying an additional 459,200 shares during the period.

Atkore Stock Performance

Shares of NYSE:ATKR traded up $1.32 during trading on Tuesday, hitting $58.02. 586,020 shares of the company were exchanged, compared to its average volume of 697,691. The company has a market cap of $2.01 billion, a PE ratio of 5.62 and a beta of 2.02. Atkore has a 52-week low of $49.92 and a 52-week high of $185.42. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.03 and a quick ratio of 1.96. The stock has a 50 day moving average of $63.15 and a 200 day moving average of $78.50.

Atkore (NYSE:ATKR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.45. The business had revenue of $661.60 million for the quarter, compared to analysts' expectations of $680.77 million. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The firm's quarterly revenue was down 17.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.12 EPS. As a group, equities research analysts predict that Atkore will post 5.79 EPS for the current year.

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.28 annualized dividend and a yield of 2.21%. Atkore's dividend payout ratio (DPR) is presently 12.39%.

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.