Atkore Inc. (NYSE:ATKR) Receives Consensus Rating of "Hold" from Analysts

Shares of Atkore Inc. (NYSE:ATKR - Get Free Report) have been assigned a consensus rating of "Hold" from the seven analysts that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $79.57.

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

Insider Activity

In related news, insider Mark F. Lamps sold 1,000 shares of the company's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $69.16, for a total transaction of $69,160.00. Following the completion of the sale, the insider owned 32,828 shares of the company's stock, valued at $2,270,384.48. This represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.99% of the company's stock.

Institutional Investors Weigh In On Atkore

Several institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in Atkore by 1,514.7% during the first quarter. GAMMA Investing LLC now owns 549 shares of the company's stock worth $33,000 after acquiring an additional 515 shares in the last quarter. KBC Group NV raised its stake in Atkore by 29.5% during the first quarter. KBC Group NV now owns 1,881 shares of the company's stock worth $113,000 after acquiring an additional 429 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in Atkore by 97.0% during the first quarter. Harbor Capital Advisors Inc. now owns 526 shares of the company's stock worth $32,000 after acquiring an additional 259 shares in the last quarter. SG Americas Securities LLC acquired a new position in Atkore during the first quarter worth about $1,841,000. Finally, Principal Financial Group Inc. raised its stake in Atkore by 3.6% during the first quarter. Principal Financial Group Inc. now owns 58,174 shares of the company's stock worth $3,490,000 after acquiring an additional 2,006 shares in the last quarter.

Atkore Price Performance

Shares of Atkore stock traded down $0.60 during mid-day trading on Thursday, reaching $74.24. 1,253,617 shares of the stock were exchanged, compared to its average volume of 664,261. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 14.28 and a beta of 2.05. The company has a current ratio of 3.02, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. The firm has a 50-day simple moving average of $69.71 and a 200 day simple moving average of $68.80. Atkore has a fifty-two week low of $49.92 and a fifty-two week high of $146.52.

Atkore (NYSE:ATKR - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.52. The firm had revenue of $701.73 million during the quarter, compared to analysts' expectations of $690.83 million. Atkore had a net margin of 6.48% and a return on equity of 20.81%. The company's quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter last year, the company posted $4.08 EPS. On average, sell-side analysts predict that Atkore will post 5.79 EPS for the current fiscal year.

Atkore Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Friday, May 16th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Friday, May 16th. This is a boost from Atkore's previous quarterly dividend of $0.32. Atkore's payout ratio is presently 25.38%.

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.