Atkore Inc. (NYSE:ATKR) was the recipient of a large decline in short interest in April. As of April 15th, there was short interest totalling 687,300 shares, a decline of 15.4% from the March 31st total of 812,800 shares. Based on an average daily volume of 567,400 shares, the days-to-cover ratio is presently 1.2 days. Currently, 1.5% of the company's stock are short sold.
A number of equities analysts recently weighed in on ATKR shares. Credit Suisse Group boosted their price objective on shares of Atkore from $54.00 to $61.00 and gave the stock an "outperform" rating in a report on Wednesday, February 3rd. Royal Bank of Canada boosted their target price on shares of Atkore from $52.00 to $67.00 and gave the company an "outperform" rating in a research note on Wednesday, February 3rd. Finally, CJS Securities initiated coverage on shares of Atkore in a research note on Thursday, March 18th. They set an "outperform" rating and a $90.00 target price for the company. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Atkore currently has an average rating of "Buy" and an average price target of $61.00.
In related news, VP Daniel S. Kelly sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, March 9th. The shares were sold at an average price of $72.58, for a total value of $108,870.00. Insiders own 1.72% of the company's stock.
Several large investors have recently bought and sold shares of the company. Wells Fargo & Company MN boosted its holdings in Atkore by 8.9% in the 4th quarter. Wells Fargo & Company MN now owns 2,930,092 shares of the company's stock worth $120,456,000 after buying an additional 239,713 shares during the period. Victory Capital Management Inc. boosted its holdings in Atkore by 110.1% in the 4th quarter. Victory Capital Management Inc. now owns 1,003,208 shares of the company's stock worth $41,242,000 after buying an additional 525,654 shares during the period. Nuveen Asset Management LLC boosted its holdings in Atkore by 2.7% in the 4th quarter. Nuveen Asset Management LLC now owns 756,685 shares of the company's stock worth $31,107,000 after buying an additional 19,667 shares during the period. SummerHaven Investment Management LLC bought a new position in Atkore in the 4th quarter worth $660,000. Finally, Ziegler Capital Management LLC boosted its holdings in shares of Atkore by 33.9% during the 4th quarter. Ziegler Capital Management LLC now owns 384,294 shares of the company's stock valued at $15,798,000 after purchasing an additional 97,250 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company's stock.
Shares of ATKR opened at $83.58 on Tuesday. The company has a current ratio of 3.00, a quick ratio of 2.28 and a debt-to-equity ratio of 2.12. The firm has a market cap of $3.90 billion, a PE ratio of 26.87 and a beta of 2.47. Atkore has a 1-year low of $20.25 and a 1-year high of $85.36. The firm has a fifty day simple moving average of $73.15 and a two-hundred day simple moving average of $51.76.
Atkore (NYSE:ATKR) last posted its quarterly earnings data on Wednesday, April 28th. The company reported $2.79 EPS for the quarter, topping the consensus estimate of $1.83 by $0.96. The firm had revenue of $639.50 million during the quarter, compared to analyst estimates of $556.80 million. Atkore had a return on equity of 47.96% and a net margin of 8.63%. Atkore's revenue was up 40.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 EPS.
Atkore Company Profile
Atkore Inc manufactures and distributes electrical raceway products, and mechanical products and solutions (MP&S) in the United States and internationally. The company offers electrical raceway products, including electrical conduits and fittings, armored cables and fittings, and cable trays and mounting systems and fittings.
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