Atkore (NYSE:ATKR) Earns "Sector Weight" Rating from KeyCorp

Key Points

• Atkore's stock received a reaffirmed "sector weight" rating from KeyCorp, with multiple analysts providing varying ratings and price targets, including a "buy" rating from Roth Capital at $78.00 and an upgraded "buy" rating from Wall Street Zen.
• The company reported earnings per share (EPS) of $2.04 for the last quarter, surpassing expectations of $1.52, although its revenue decreased by 11.5% year-over-year to $701.73 million.
• Insider trading activity includes the sale of 1,000 shares by Mark F. Lamps at an average price of $69.16, reflecting an overall decrease in their ownership of Atkore's stock.

Atkore (NYSE:ATKR - Get Free Report)'s stock had its "sector weight" rating reaffirmed by stock analysts at KeyCorp in a report issued on Wednesday, Marketbeat reports.

A number of other brokerages have also recently issued reports on ATKR. Roth Capital set a $78.00 price objective on shares of Atkore and gave the stock a "buy" rating in a report on Wednesday, May 7th. Citigroup reiterated a "neutral" rating and set a $80.00 price target (up previously from $70.00) on shares of Atkore in a research note on Monday, June 9th. Wall Street Zen upgraded shares of Atkore from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Finally, Royal Bank Of Canada upped their price target on Atkore from $65.00 to $70.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $79.57.

Atkore Stock Performance

Shares of ATKR stock opened at $56.81 on Wednesday. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 10.93 and a beta of 2.10. Atkore has a 1-year low of $49.92 and a 1-year high of $108.69. The company has a current ratio of 3.02, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54. The stock's fifty day simple moving average is $71.50 and its 200-day simple moving average is $67.99.

Atkore (NYSE:ATKR - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.52 by $0.52. Atkore had a return on equity of 20.81% and a net margin of 6.48%. The firm had revenue of $701.73 million during the quarter, compared to analysts' expectations of $690.83 million. During the same quarter last year, the firm earned $4.08 earnings per share. The business's revenue for the quarter was down 11.5% on a year-over-year basis. On average, sell-side analysts predict that Atkore will post 5.79 earnings per share for the current fiscal year.

Insider Activity at Atkore

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

Institutional Investors Weigh In On Atkore

Several institutional investors and hedge funds have recently made changes to their positions in the company. Gates Capital Management Inc. increased its position in shares of Atkore by 25.2% during the 1st quarter. Gates Capital Management Inc. now owns 3,265,061 shares of the company's stock worth $195,871,000 after purchasing an additional 657,707 shares in the last quarter. First Trust Advisors LP grew its stake in Atkore by 195.6% during the fourth quarter. First Trust Advisors LP now owns 1,174,464 shares of the company's stock worth $98,009,000 after buying an additional 777,113 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Atkore by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,090,817 shares of the company's stock worth $91,028,000 after buying an additional 6,234 shares in the last quarter. LSV Asset Management increased its holdings in shares of Atkore by 24.2% during the fourth quarter. LSV Asset Management now owns 924,100 shares of the company's stock worth $77,116,000 after buying an additional 180,160 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Atkore by 7.2% in the first quarter. American Century Companies Inc. now owns 840,505 shares of the company's stock valued at $50,422,000 after acquiring an additional 56,692 shares during 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.

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