Brokerages Set Atkore Inc. (NYSE:ATKR) Price Target at $77.57

Atkore Inc. (NYSE:ATKR - Get Free Report) has been assigned an average rating of "Hold" from the seven analysts that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $77.57.

A number of equities analysts have recently weighed in on the stock. Citigroup cut their price objective on shares of Atkore from $78.00 to $66.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Loop Capital lowered shares of Atkore from a "buy" rating to a "hold" rating and cut their price objective for the company from $115.00 to $65.00 in a research report on Monday, February 10th. KeyCorp boosted their price objective on shares of Atkore from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Royal Bank of Canada boosted their price objective on shares of Atkore from $65.00 to $70.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen raised shares of Atkore from a "hold" rating to a "buy" rating in a research report on Monday, May 12th.

Atkore Stock Down 0.6%

NYSE:ATKR traded down $0.39 during midday trading on Wednesday, hitting $66.26. 244,652 shares of the company were exchanged, compared to its average volume of 678,497. The company has a fifty day simple moving average of $62.68 and a 200 day simple moving average of $73.38. Atkore has a fifty-two week low of $49.92 and a fifty-two week high of $153.32. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $2.23 billion, a PE ratio of 6.41 and a beta of 2.10.

Atkore (NYSE:ATKR - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $1.52 by $0.52. The company had revenue of $701.73 million for the quarter, compared to analyst estimates of $690.83 million. Atkore had a net margin of 12.42% and a return on equity of 25.69%. Atkore's quarterly revenue was down 11.5% on a year-over-year basis. During the same period in the previous year, the business posted $4.08 earnings per share. As a group, equities analysts anticipate that Atkore will post 5.79 earnings per share for the current fiscal year.

Atkore Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Friday, May 16th were paid a dividend of $0.33 per share. This is a positive change from Atkore's previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.32 annualized dividend and a yield of 1.99%. Atkore's dividend payout ratio is 25.38%.

Insider Buying and Selling

In other news, insider Mark F. Lamps sold 1,000 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $69.16, for a total value of $69,160.00. Following the completion of the transaction, the insider now directly owns 32,828 shares in the company, valued at $2,270,384.48. This trade represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.99% of the stock is owned by company insiders.

Institutional Investors Weigh In On Atkore

Several hedge funds have recently made changes to their positions in ATKR. Barclays PLC lifted its position in shares of Atkore by 50.2% in the 3rd quarter. Barclays PLC now owns 70,736 shares of the company's stock valued at $5,994,000 after acquiring an additional 23,628 shares in the last quarter. KBC Group NV lifted its position in shares of Atkore by 47.7% in the 4th quarter. KBC Group NV now owns 1,452 shares of the company's stock valued at $121,000 after acquiring an additional 469 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Atkore by 30.2% in the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company's stock valued at $70,000 after acquiring an additional 195 shares in the last quarter. Twelve Points Wealth Management LLC lifted its position in shares of Atkore by 9.8% in the 4th quarter. Twelve Points Wealth Management LLC now owns 18,723 shares of the company's stock valued at $1,562,000 after acquiring an additional 1,673 shares in the last quarter. Finally, Swedbank AB lifted its position in shares of Atkore by 18.4% in the 4th quarter. Swedbank AB now owns 296,791 shares of the company's stock valued at $24,767,000 after acquiring an additional 46,200 shares in the last quarter.

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.