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

Key Points

• Atkore Inc. has received a consensus rating of "Hold" from seven ratings firms, with five recommending a hold and two suggesting a buy.
• The average 1-year price target for Atkore's stock is approximately $79.57, indicating analysts' expectations for its performance.
• Atkore recently declared a quarterly dividend of $0.33 per share, resulting in a dividend yield of 2.3% and a payout ratio of 42.31%.

Atkore Inc. (NYSE:ATKR - Get Free Report) has received an average recommendation of "Hold" from the seven research firms that are presently covering the stock, Marketbeat Ratings 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 target among brokerages that have issued a report on the stock in the last year is $79.5714.

Several research firms recently weighed in on ATKR. Citigroup restated a "neutral" rating and set a $80.00 price target (up previously from $70.00) on shares of Atkore in a research report on Monday, June 9th. KeyCorp reiterated a "sector weight" rating on shares of Atkore in a research report on Wednesday, August 6th.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $59.37, for a total transaction of $59,370.00. Following the completion of the transaction, the insider owned 31,873 shares in the company, valued at $1,892,300.01. This trade represents a 3.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.99% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Atkore

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dogwood Wealth Management LLC bought a new position in Atkore during the second quarter worth about $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Atkore in the second quarter worth about $28,000. Kestra Investment Management LLC lifted its holdings in shares of Atkore by 710.9% in the second quarter. Kestra Investment Management LLC now owns 446 shares of the company's stock worth $31,000 after buying an additional 391 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Atkore by 97.0% in the first quarter. Harbor Capital Advisors Inc. now owns 526 shares of the company's stock worth $32,000 after buying an additional 259 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Atkore by 1,514.7% in the first quarter. GAMMA Investing LLC now owns 549 shares of the company's stock worth $33,000 after buying an additional 515 shares in the last quarter.

Atkore Stock Performance

ATKR traded up $0.95 during trading on Friday, hitting $59.19. 104,126 shares of the company traded hands, compared to its average volume of 595,782. The firm has a market cap of $1.99 billion, a P/E ratio of 18.97 and a beta of 2.16. The stock's fifty day moving average is $66.35 and its 200 day moving average is $64.97. The company has a quick ratio of 2.08, a current ratio of 3.09 and a debt-to-equity ratio of 0.52. Atkore has a one year low of $49.92 and a one year high of $105.28.

Atkore Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Tuesday, August 19th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Tuesday, August 19th. Atkore's dividend payout ratio (DPR) is currently 42.31%.

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.