Atkore Inc. (NYSE:ATKR) Receives $79.57 Consensus Target Price from Analysts

by · The Cerbat Gem

Atkore Inc. (NYSE:ATKR – Get Free Report) has been given an average recommendation of “Hold” by the eight analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $79.5714.

Several research firms recently issued reports on ATKR. KeyCorp restated a “sector weight” rating on shares of Atkore in a research report on Wednesday, August 6th. Weiss Ratings cut Atkore from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday.

View Our Latest Report on Atkore

Atkore Price Performance

ATKR opened at $68.51 on Friday. The stock’s 50 day simple moving average is $61.71 and its 200 day simple moving average is $65.45. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.09 and a quick ratio of 2.08. Atkore has a 1 year low of $49.92 and a 1 year high of $105.28. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 21.96 and a beta of 2.13.

Atkore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Tuesday, August 19th were issued a $0.33 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $1.32 annualized dividend and a yield of 1.9%. Atkore’s dividend payout ratio (DPR) is 42.31%.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $59.37, for a total value of $59,370.00. Following the completion of the sale, the insider owned 31,873 shares in the company, valued at approximately $1,892,300.01. This trade represents a 3.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.99% of the company’s stock.

Institutional Investors Weigh In On Atkore

A number of large investors have recently modified their holdings of ATKR. Gates Capital Management Inc. boosted its stake in shares of Atkore by 25.2% during the 1st quarter. Gates Capital Management Inc. now owns 3,265,061 shares of the company’s stock valued at $195,871,000 after purchasing an additional 657,707 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Atkore by 43,389.8% in the 1st quarter. Pacer Advisors Inc. now owns 365,749 shares of the company’s stock worth $21,941,000 after acquiring an additional 364,908 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Atkore in the 2nd quarter valued at approximately $21,453,000. JPMorgan Chase & Co. lifted its stake in shares of Atkore by 109.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 535,162 shares of the company’s stock valued at $37,756,000 after purchasing an additional 279,385 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Atkore by 13.9% in the 2nd quarter. First Trust Advisors LP now owns 1,757,797 shares of the company’s stock valued at $124,013,000 after purchasing an additional 213,858 shares during the period.

Atkore Company Profile

(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.

Featured Stories