Atkore (NYSE:ATKR - Get Free Report) had its price objective upped by equities researchers at Royal Bank of Canada from $64.00 to $65.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "sector perform" rating on the stock. Royal Bank of Canada's target price points to a potential upside of 1.44% from the stock's current price.
Several other analysts have also weighed in on the company. Citigroup lowered their target price on Atkore from $78.00 to $66.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. KeyCorp lowered their price objective on shares of Atkore from $80.00 to $70.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Loop Capital downgraded shares of Atkore from a "buy" rating to a "hold" rating and dropped their target price for the company from $115.00 to $65.00 in a report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Atkore presently has a consensus rating of "Moderate Buy" and an average target price of $75.00.
Read Our Latest Research Report on Atkore
Atkore Price Performance
Shares of NYSE ATKR traded down $0.42 during midday trading on Tuesday, hitting $64.08. The company had a trading volume of 275,125 shares, compared to its average volume of 700,844. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 6.20 and a beta of 2.02. Atkore has a twelve month low of $49.92 and a twelve month high of $185.42. The business has a 50-day simple moving average of $61.31 and a two-hundred day simple moving average of $76.79. The company has a quick ratio of 1.96, a current ratio of 3.03 and a debt-to-equity ratio of 0.51.
Atkore (NYSE:ATKR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.45. The company had revenue of $661.60 million during the quarter, compared to the consensus estimate of $680.77 million. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The company's revenue for the quarter was down 17.1% on a year-over-year basis. During the same period last year, the firm earned $4.12 EPS. Equities research analysts anticipate that Atkore will post 5.79 earnings per share for the current year.
Insider Buying and Selling
In other news, insider Mark F. Lamps sold 500 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $65.00, for a total transaction of $32,500.00. Following the completion of the sale, the insider now directly owns 33,760 shares of the company's stock, valued at $2,194,400. The trade was a 1.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.99% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. lifted its stake in shares of Atkore by 97.0% in the 1st 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. Jones Financial Companies Lllp raised its holdings in Atkore by 87.7% in the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company's stock valued at $33,000 after buying an additional 186 shares during the period. GAMMA Investing LLC lifted its position in Atkore by 1,514.7% during the first quarter. GAMMA Investing LLC now owns 549 shares of the company's stock valued at $33,000 after buying an additional 515 shares in the last quarter. Versant Capital Management Inc grew its stake in Atkore by 358.9% during the first quarter. Versant Capital Management Inc now owns 693 shares of the company's stock worth $42,000 after buying an additional 542 shares during the period. Finally, Pacer Advisors Inc. increased its position in shares of Atkore by 30.2% in the fourth quarter. Pacer Advisors Inc. now owns 841 shares of the company's stock worth $70,000 after acquiring an additional 195 shares in the last quarter.
About Atkore
(
Get Free Report)
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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