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

Key Points

• Analysts rate Atkore “Hold” on average: Four analysts have a hold rating, while one rates it a sell and one a strong buy. The average 12-month price target is $143.33.
• Atkore reported quarterly EPS of $1.92, beating the $1.53 consensus estimate, while revenue of $794.8 million also exceeded expectations. Shares opened at $93.60, near the company’s 52-week high of $94.14.
• The company declared a quarterly dividend of $0.33 per share, equating to a $1.32 annualized payout and a 1.4% yield. An insider separately sold 300 shares, while several institutional investors recently established positions.

Atkore Inc. (NYSE:ATKR - Get Free Report) has earned an average rating of "Hold" from the six ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $143.3333.

A number of research firms recently weighed in on ATKR. Royal Bank Of Canada set a $76.00 price target on Atkore in a report on Thursday, July 16th. Citigroup increased their target price on Atkore from $74.00 to $86.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Atkore from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, August 12th. Roth Capital cut shares of Atkore from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $85.00 to $92.00 in a research report on Tuesday, August 4th. Finally, Wall Street Zen raised shares of Atkore from a "hold" rating to a "buy" rating in a report on Sunday, July 26th.

Insiders Place Their Bets

In related news, insider Mark F. Lamps sold 300 shares of Atkore stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $93.75, for a total value of $28,125.00. Following the sale, the insider directly owned 35,803 shares in the company, valued at approximately $3,356,531.25. The trade was a 0.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Atkore

Hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Atkore in the second quarter valued at approximately $236,958,000. Coliseum Capital Management LLC purchased a new position in Atkore during the fourth quarter worth approximately $51,189,000. Earnest Partners LLC acquired a new position in Atkore during the fourth quarter worth $49,571,000. Hill City Capital LP purchased a new stake in Atkore in the 2nd quarter valued at $55,061,020,000. Finally, Bank of America Corp DE acquired a new stake in shares of Atkore in the 2nd quarter worth $33,367,000.

Atkore Price Performance

NYSE:ATKR opened at $93.60 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.73 and a quick ratio of 2.04. The company has a 50 day moving average price of $80.03 and a 200-day moving average price of $73.05. Atkore has a 1-year low of $53.75 and a 1-year high of $94.14. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of -19.46 and a beta of 1.68.

Atkore (NYSE:ATKR - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.53 by $0.39. The company had revenue of $794.80 million for the quarter, compared to analyst estimates of $756.23 million. Atkore had a negative net margin of 5.55% and a positive return on equity of 10.27%. During the same quarter last year, the business earned $2.17 earnings per share. Equities research analysts forecast that Atkore will post 5.15 EPS for the current year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Tuesday, August 18th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, August 18th. Atkore's dividend payout ratio is -27.44%.

Atkore Company Profile

Atkore International Group Inc NYSE: ATKR is a diversified global manufacturer of electrical raceway and mechanical products, serving a broad range of end markets including commercial construction, industrial facilities and energy infrastructure. The company's electrical product portfolio encompasses conduit, tubing, fittings, connectors and cable management systems designed for use in residential, commercial and industrial wiring applications. On the mechanical side, Atkore offers pipe support solutions, seismic bracing, HVAC hangers and other mechanical products that address critical building and process piping needs.

Founded as a family-owned business before its reorganization into a standalone public company in 2016, Atkore has grown through both organic investment and targeted acquisitions.

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