Atkore's (ATKR) Hold (C-) Rating Reiterated at Weiss Ratings

Key Points

• Atkore's stock has been reiterated with a "hold (C-)" rating by Weiss Ratings, reflecting a cautious outlook amid varied assessments from analysts.
• The average price target for Atkore shares is currently $79.57, with two analysts rating the stock as a Buy and six as a Hold.
• Insider Mark F. Lamps sold 1,000 shares at an average price of $59.37, reducing his ownership by 3.04% amidst a backdrop of increased institutional investments in Atkore.

Atkore (NYSE:ATKR - Get Free Report)'s stock had its "hold (c-)" rating reiterated by equities researchers at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Separately, KeyCorp reaffirmed a "sector weight" rating on shares of Atkore in a research note on Wednesday, August 6th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $79.57.

Atkore Price Performance

Shares of Atkore stock traded up $1.87 during trading on Wednesday, hitting $64.48. 257,129 shares of the company were exchanged, compared to its average volume of 606,714. Atkore has a fifty-two week low of $49.92 and a fifty-two week high of $105.28. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 20.67 and a beta of 2.13. The firm has a 50 day moving average price of $60.83 and a 200 day moving average price of $64.72. The company has a quick ratio of 2.08, a current ratio of 3.09 and a debt-to-equity ratio of 0.52.

Insider Activity at Atkore

In related news, insider Mark F. Lamps sold 1,000 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $59.37, for a total transaction of $59,370.00. Following the sale, the insider owned 31,873 shares of the company's stock, valued at $1,892,300.01. The trade was a 3.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.99% of the company's stock.

Hedge Funds Weigh In On Atkore

Several institutional investors and hedge funds have recently bought and sold shares of the business. Dogwood Wealth Management LLC purchased a new stake in shares of Atkore during the 2nd quarter worth about $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Atkore in the 2nd quarter worth $28,000. Kestra Investment Management LLC increased its stake in Atkore by 710.9% during the second quarter. Kestra Investment Management LLC now owns 446 shares of the company's stock valued at $31,000 after acquiring an additional 391 shares during the period. Harbor Capital Advisors Inc. raised its stake in shares of Atkore by 97.0% in the first quarter. Harbor Capital Advisors Inc. now owns 526 shares of the company's stock valued at $32,000 after purchasing an additional 259 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Atkore by 1,514.7% during the 1st quarter. GAMMA Investing LLC now owns 549 shares of the company's stock valued at $33,000 after acquiring an additional 515 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.

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