Atkore (ATKR) – Investment Analysts’ Recent Ratings Updates

Atkore (NYSE: ATKR) has recently received a number of price target changes and ratings updates:

• 12/4/2024 – Atkore had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $102.00 price target on the stock, up previously from $93.00.
• 11/22/2024 – Atkore had its price target lowered by analysts at Royal Bank of Canada from $99.00 to $93.00. They now have a “sector perform” rating on the stock.
• 11/22/2024 – Atkore was downgraded by analysts at B. Riley from a “buy” rating to a “neutral” rating. They now have a $84.00 price target on the stock, down previously from $135.00.
• 11/22/2024 – Atkore had its price target lowered by analysts at Loop Capital from $130.00 to $115.00. They now have a “buy” rating on the stock.

Atkore Stock Performance

ATKR traded up $0.17 during trading on Wednesday, hitting $89.19. 81,668 shares of the stock were exchanged, compared to its average volume of 631,121. The company has a quick ratio of 1.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.50. Atkore Inc. has a 1-year low of $76.01 and a 1-year high of $194.98. The stock has a fifty day moving average price of $89.42 and a two-hundred day moving average price of $107.40. The firm has a market capitalization of $3.11 billion, a P/E ratio of 7.06 and a beta of 2.10.

Atkore (NYSE:ATKR) last issued its quarterly earnings data on Thursday, November 21st. The company reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.06). Atkore had a net margin of 14.77% and a return on equity of 32.14%. The firm had revenue of $788.30 million during the quarter, compared to analysts’ expectations of $749.49 million. During the same quarter in the prior year, the firm posted $3.63 EPS. Atkore’s quarterly revenue was down 9.4% compared to the same quarter last year. As a group, sell-side analysts predict that Atkore Inc. will post 6.69 earnings per share for the current year.

Atkore Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Friday, December 6th. Atkore’s dividend payout ratio (DPR) is presently 10.13%.

Insider Transactions at Atkore

In other Atkore news, VP Daniel S. Kelly sold 13,071 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total value of $1,251,417.54. Following the sale, the vice president now owns 27,528 shares of the company’s stock, valued at approximately $2,635,530.72. This represents a 32.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $96.55, for a total value of $48,275.00. Following the completion of the sale, the insider now directly owns 27,626 shares in the company, valued at $2,667,290.30. This trade represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,924 shares of company stock worth $1,614,975 over the last 90 days. 2.56% of the stock is currently owned by insiders.

Institutional Trading of Atkore

Several institutional investors and hedge funds have recently made changes to their positions in ATKR. Arizona State Retirement System lifted its position in Atkore by 0.8% during the second quarter. Arizona State Retirement System now owns 10,294 shares of the company’s stock worth $1,389,000 after buying an additional 85 shares during the period. SummerHaven Investment Management LLC lifted its position in Atkore by 2.0% during the second quarter. SummerHaven Investment Management LLC now owns 4,944 shares of the company’s stock worth $667,000 after buying an additional 99 shares during the period. Meixler Investment Management Ltd. lifted its position in Atkore by 6.5% during the second quarter. Meixler Investment Management Ltd. now owns 1,947 shares of the company’s stock worth $263,000 after buying an additional 119 shares during the period. Commonwealth Equity Services LLC lifted its position in Atkore by 3.2% during the second quarter. Commonwealth Equity Services LLC now owns 4,115 shares of the company’s stock worth $555,000 after buying an additional 129 shares during the period. Finally, Riverwater Partners LLC lifted its position in Atkore by 1.1% during the second quarter. Riverwater Partners LLC now owns 14,310 shares of the company’s stock worth $1,931,000 after buying an additional 159 shares during the period.

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.