Atkore Inc. (NYSE:ATKR) Stock Now Rated "Hold" by Wall Street Analysts

Key Points

• Analysts have a consensus “Hold” rating on Atkore, with four hold, one sell and one strong-buy recommendation. The average 12-month price target is $143.33.
• Atkore beat quarterly expectations, reporting $1.92 in earnings per share versus the $1.53 consensus estimate, while revenue reached $794.8 million compared with estimates of $756.23 million.
• The company pays a quarterly dividend of $0.33, equal to $1.32 annually and a 1.4% yield; shares opened at $94.84, near their 52-week high of $94.90.

Shares of Atkore Inc. (NYSE:ATKR - Get Free Report) have been given a consensus rating of "Hold" by the six research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $143.33.

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

Atkore Stock Performance

NYSE:ATKR opened at $94.84 on Friday. The firm has a market cap of $3.20 billion, a PE ratio of -19.72 and a beta of 1.69. Atkore has a fifty-two week low of $53.75 and a fifty-two week high of $94.90. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.04 and a current ratio of 2.73. The business has a 50 day moving average price of $94.09 and a 200-day moving average price of $80.69.

Atkore (NYSE:ATKR - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.53 by $0.39. Atkore had a negative net margin of 5.55% and a positive return on equity of 10.27%. The company had revenue of $794.80 million for the quarter, compared to the consensus estimate of $756.23 million. During the same period in the previous year, the firm earned $2.17 earnings per share. Equities research analysts predict that Atkore will post 5.15 earnings per share for the current year.

Atkore Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Tuesday, August 18th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $1.32 dividend on an annualized basis and a yield of 1.4%. Atkore's dividend payout ratio (DPR) is presently -27.44%.

Insiders Place Their Bets

In other Atkore news, insider Mark Lamps sold 300 shares of the business'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 transaction, the insider directly owned 35,803 shares of the company's stock, valued at approximately $3,356,531.25. The trade was a 0.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Atkore

A number of large investors have recently modified their holdings of ATKR. BlackRock Inc. purchased a new position in shares of Atkore during the second quarter valued at about $236,958,000. Dimensional Fund Advisors LP boosted its position in Atkore by 8.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,227,991 shares of the company's stock valued at $72,341,000 after acquiring an additional 97,514 shares in the last quarter. Hill City Capital LP bought a new stake in Atkore during the 2nd quarter valued at approximately $55,061,000. Irenic Capital Management LP grew its holdings in shares of Atkore by 3,531.8% during the 2nd quarter. Irenic Capital Management LP now owns 507,613 shares of the company's stock worth $38,599,000 after acquiring an additional 493,636 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of Atkore by 10.1% during the 1st quarter. Bank of America Corp DE now owns 462,278 shares of the company's stock worth $27,233,000 after acquiring an additional 42,593 shares during the period.

Atkore Company Profile

Atkore Inc is a manufacturer of electrical, safety and infrastructure products for the construction, industrial and commercial markets. The company supplies systems and components used to manage, protect and route electrical wiring and cable, as well as products that support structural and safety applications.

Its product portfolio includes electrical raceway systems, conduit, fittings, cable management products, wire and cable, mechanical tubing, framing systems, and related safety and infrastructure solutions.

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