Atkore (NYSE:ATKR) Downgraded by Weiss Ratings to Sell (D+)

Key Points

• Atkore has been downgraded from a "hold (c-)" rating to a "sell (d+)" rating by Weiss Ratings.
• The stock is currently trading at $68.45, showing a 0.8% increase, with an average target price of $79.57.
• Insider Mark F. Lamps recently sold 1,000 shares, decreasing their position by 3.04% and now holding approximately 31,873 shares.

Atkore (NYSE:ATKR - Get Free Report) was downgraded by equities researchers at Weiss Ratings from a "hold (c-)" rating to a "sell (d+)" rating in a research report issued on Friday,Weiss Ratings reports.

Separately, KeyCorp reissued a "sector weight" rating on shares of Atkore in a report on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $79.57.

Atkore Stock Up 0.8%

ATKR stock traded up $0.52 during mid-day trading on Friday, hitting $68.45. 440,399 shares of the company were exchanged, compared to its average volume of 596,345. The company has a market capitalization of $2.30 billion, a PE ratio of 21.94 and a beta of 2.13. The company has a current ratio of 3.09, a quick ratio of 2.08 and a debt-to-equity ratio of 0.52. Atkore has a twelve month low of $49.92 and a twelve month high of $105.28. The firm has a fifty day simple moving average of $61.29 and a 200 day simple moving average of $65.14.

Insider Activity

In other news, insider Mark F. Lamps sold 1,000 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $59.37, for a total value of $59,370.00. Following the transaction, the insider directly owned 31,873 shares in the company, valued at approximately $1,892,300.01. This trade represents a 3.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.99% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. California State Teachers Retirement System lifted its position in shares of Atkore by 0.7% in the 2nd quarter. California State Teachers Retirement System now owns 33,067 shares of the company's stock worth $2,333,000 after buying an additional 214 shares during the last quarter. Osaic Holdings Inc. lifted its position in Atkore by 15.4% in the 2nd quarter. Osaic Holdings Inc. now owns 1,794 shares of the company's stock valued at $127,000 after purchasing an additional 240 shares during the last quarter. SummerHaven Investment Management LLC lifted its position in Atkore by 4.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 6,283 shares of the company's stock valued at $443,000 after purchasing an additional 244 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Atkore by 61.8% in the 1st quarter. Jones Financial Companies Lllp now owns 644 shares of the company's stock valued at $39,000 after purchasing an additional 246 shares during the last quarter. Finally, Matrix Trust Co lifted its position in Atkore by 6.2% in the 3rd quarter. Matrix Trust Co now owns 4,391 shares of the company's stock valued at $275,000 after purchasing an additional 258 shares during the last quarter.

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.

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