Atkore Inc. (NYSE:ATKR) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on Atkore, with four holds, one sell and one strong buy; the average 12-month price target is $143.33.
• Atkore reported quarterly EPS of $1.92, beating the $1.53 consensus estimate, while revenue of $794.8 million also exceeded expectations.
• The company paid a quarterly dividend of $0.33 per share, equivalent to an annualized $1.32 dividend and a 1.4% yield.

Shares of Atkore Inc. (NYSE:ATKR - Get Free Report) have been given an average recommendation of "Hold" by the six ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $143.3333.

A number of research analysts recently weighed in on ATKR shares. Wall Street Zen upgraded shares of Atkore from a "hold" rating to a "buy" rating in a research note on Sunday, July 26th. Royal Bank Of Canada set a $76.00 target price on Atkore in a research report on Thursday, July 16th. Weiss Ratings raised Atkore from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, August 12th. Finally, Roth Capital downgraded Atkore from a "buy" rating to a "neutral" rating and upped their price target for the stock from $85.00 to $92.00 in a research note on Tuesday, August 4th.

Insider Buying and Selling at Atkore

In related news, insider Mark Lamps sold 300 shares of the firm's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $93.75, for a total transaction of $28,125.00. Following the completion of the transaction, the insider directly owned 35,803 shares of the company's stock, valued at approximately $3,356,531.25. This trade represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.10% of the company's stock.

Institutional Trading of Atkore

Several hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC bought a new position in shares of Atkore in the 2nd quarter valued at about $28,000. Integrated Wealth Concepts LLC purchased a new stake in Atkore during the 2nd quarter valued at $31,000. State of Wyoming bought a new stake in Atkore in the second quarter worth $56,000. Parkside Financial Bank & Trust boosted its stake in Atkore by 1,456.0% during the second quarter. Parkside Financial Bank & Trust now owns 778 shares of the company's stock worth $59,000 after buying an additional 728 shares during the period. Finally, Nykredit A S bought a new position in Atkore during the second quarter valued at $81,000.

Atkore Trading Down 0.0%

NYSE:ATKR opened at $94.11 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.73 and a quick ratio of 2.04. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of -19.56 and a beta of 1.68. Atkore has a one year low of $53.75 and a one year high of $94.39. The business has a fifty day moving average price of $85.84 and a 200-day moving average price of $76.24.

Atkore (NYSE:ATKR - Get Free Report) last announced its earnings results on Monday, August 3rd. The company reported $1.92 EPS for the quarter, topping analysts' consensus estimates of $1.53 by $0.39. The company had revenue of $794.80 million for the quarter, compared to analysts' expectations of $756.23 million. Atkore had a positive return on equity of 10.27% and a negative net margin of 5.55%.During the same period last year, the firm earned $2.17 EPS. Sell-side analysts forecast that Atkore will post 5.15 EPS for the current year.

Atkore Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Tuesday, August 18th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 18th. Atkore's payout ratio is -27.44%.

About Atkore

Atkore Inc NYSE: ATKR manufactures electrical, safety and infrastructure products for commercial, industrial, data center, utility, transportation and other construction markets. Its portfolio is designed to support the distribution, management and protection of electrical power and communications systems.

The company's products include electrical conduit and fittings, cable management systems, wire and cable, metal framing, mechanical pipe, fire sprinkler pipe and related infrastructure components.

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