Atkore's (ATKR) "Sector Weight" Rating Reiterated at 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 KeyCorp in a research note issued on Wednesday, MarketBeat Ratings reports.

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

Atkore Trading Down 0.0%

Shares of ATKR stock traded down $0.01 during mid-day trading on Wednesday, reaching $54.98. 1,001,005 shares of the stock traded hands, compared to its average volume of 710,270. The stock's fifty day simple moving average is $70.88 and its two-hundred day simple moving average is $67.34. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 17.62 and a beta of 2.10. Atkore has a 1-year low of $49.92 and a 1-year high of $105.28. The company has a quick ratio of 1.98, a current ratio of 3.09 and a debt-to-equity ratio of 0.52.

Institutional Trading of Atkore

Several hedge funds and other institutional investors have recently modified their holdings of the business. Van Den Berg Management I Inc. raised its holdings in Atkore by 0.4% during the 4th quarter. Van Den Berg Management I Inc. now owns 41,041 shares of the company's stock valued at $3,425,000 after acquiring an additional 158 shares during the period. MetLife Investment Management LLC lifted its holdings in Atkore by 0.8% during the 4th quarter. MetLife Investment Management LLC now owns 21,357 shares of the company's stock worth $1,782,000 after purchasing an additional 171 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in Atkore by 3.0% in the 1st quarter. SummerHaven Investment Management LLC now owns 6,039 shares of the company's stock worth $362,000 after purchasing an additional 177 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Atkore by 61.8% in the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company's stock worth $39,000 after buying an additional 246 shares in the last quarter. Finally, 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.

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.