Atkore's (ATKR) "Neutral" Rating Reiterated at Citigroup

Citigroup restated their neutral rating on shares of Atkore (NYSE:ATKR - Free Report) in a research note released on Monday, Marketbeat Ratings reports. Citigroup currently has a $80.00 price objective on the stock, up from their prior price objective of $70.00.

Several other equities research analysts have also recently weighed in on the stock. Loop Capital cut shares of Atkore from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $115.00 to $65.00 in a research report on Monday, February 10th. Royal Bank of Canada raised their target price on Atkore from $65.00 to $70.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 7th. KeyCorp increased their price target on Atkore from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Roth Capital set a $78.00 target price on shares of Atkore and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen upgraded shares of Atkore from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Atkore presently has a consensus rating of "Moderate Buy" and a consensus target price of $79.57.

Atkore Price Performance

Atkore stock traded down $3.23 during trading hours on Monday, reaching $67.37. 581,001 shares of the stock were exchanged, compared to its average volume of 669,547. The stock has a 50 day moving average of $63.82 and a two-hundred day moving average of $71.88. The company has a market cap of $2.27 billion, a P/E ratio of 6.52 and a beta of 2.06. The company has a current ratio of 3.03, a quick ratio of 1.96 and a debt-to-equity ratio of 0.51. Atkore has a twelve month low of $49.92 and a twelve month high of $153.32.

Atkore (NYSE:ATKR - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.52 by $0.52. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The firm had revenue of $701.73 million during the quarter, compared to the consensus estimate of $690.83 million. During the same quarter in the previous year, the firm earned $4.08 earnings per share. The business's quarterly revenue was down 11.5% on a year-over-year basis. Equities analysts expect that Atkore will post 5.79 EPS for the current fiscal year.

Atkore Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Friday, May 16th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Friday, May 16th. This is an increase from Atkore's previous quarterly dividend of $0.32. Atkore's dividend payout ratio is currently 25.38%.

Insider Buying and Selling

In related news, insider Mark F. Lamps sold 1,000 shares of Atkore stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $69.16, for a total value of $69,160.00. Following the completion of the sale, the insider now directly owns 32,828 shares in the company, valued at approximately $2,270,384.48. This trade represents a 2.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.99% of the stock is owned by insiders.

Institutional Trading of Atkore

Large investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. lifted its position in Atkore by 97.0% during 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 during the period. Jones Financial Companies Lllp increased its position in Atkore by 87.7% during the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company's stock valued at $33,000 after acquiring an additional 186 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Atkore by 1,514.7% in the first quarter. GAMMA Investing LLC now owns 549 shares of the company's stock valued at $33,000 after acquiring an additional 515 shares during the period. Strs Ohio bought a new position in Atkore in the first quarter valued at about $36,000. Finally, New Age Alpha Advisors LLC purchased a new position in Atkore in the first quarter worth about $37,000.

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.