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

Atkore logo with Industrials background

Atkore Inc. (NYSE:ATKR - Get Free Report) has received an average rating of "Hold" from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $79.57.

Several research analysts have issued reports on ATKR shares. KeyCorp upped their price objective on Atkore from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Roth Capital set a $78.00 price objective on Atkore and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Royal Bank Of Canada raised their price objective on Atkore from $65.00 to $70.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 7th. Citigroup reiterated 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, Wall Street Zen upgraded Atkore from a "hold" rating to a "buy" rating in a report on Monday, May 12th.

Check Out Our Latest Research Report on Atkore

Atkore Price Performance

NYSE ATKR opened at $72.39 on Thursday. Atkore has a twelve month low of $49.92 and a twelve month high of $151.58. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 3.02. The stock has a market capitalization of $2.44 billion, a PE ratio of 13.92 and a beta of 2.05. The stock has a 50-day simple moving average of $69.47 and a 200 day simple moving average of $68.91.

Atkore (NYSE:ATKR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.52. The firm had revenue of $701.73 million for the quarter, compared to analyst estimates of $690.83 million. Atkore had a return on equity of 20.81% and a net margin of 6.48%. 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 company posted $4.08 earnings per share. Research analysts anticipate that Atkore will post 5.79 EPS for the current year.

Atkore Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Friday, May 16th were issued a $0.33 dividend. This is a positive change from Atkore's previous quarterly dividend of $0.32. The ex-dividend date was Friday, May 16th. This represents a $1.32 annualized dividend and a yield of 1.82%. Atkore's payout ratio is presently 25.38%.

Insider Buying and Selling at Atkore

In other 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 transaction, the insider owned 32,828 shares in the company, 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 this link. Corporate insiders own 1.99% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Van Den Berg Management I Inc. boosted its holdings in Atkore by 0.4% in the 4th quarter. Van Den Berg Management I Inc. now owns 41,041 shares of the company's stock worth $3,425,000 after buying an additional 158 shares during the period. Xponance Inc. raised its position in shares of Atkore by 6.9% during the 4th quarter. Xponance Inc. now owns 2,569 shares of the company's stock valued at $214,000 after buying an additional 166 shares in the last quarter. MetLife Investment Management LLC raised its position in Atkore by 0.8% in the 4th quarter. MetLife Investment Management LLC now owns 21,357 shares of the company's stock worth $1,782,000 after purchasing an additional 171 shares during the period. SummerHaven Investment Management LLC raised its position in Atkore by 3.0% in the 1st quarter. SummerHaven Investment Management LLC now owns 6,039 shares of the company's stock worth $362,000 after purchasing an additional 177 shares during the period. Finally, Jones Financial Companies Lllp raised its position in Atkore by 87.7% in the 4th quarter. Jones Financial Companies Lllp now owns 398 shares of the company's stock worth $33,000 after purchasing an additional 186 shares during the period.

Atkore Company Profile

(Get Free Report

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.

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Analyst Recommendations for Atkore (NYSE:ATKR)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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