Atkore (NYSE:ATKR - Get Free Report) was downgraded by research analysts at Loop Capital from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Monday, MarketBeat.com reports. They presently have a $65.00 price target on the stock, down from their previous price target of $115.00. Loop Capital's target price points to a potential downside of 0.46% from the stock's current price.
A number of other research firms also recently weighed in on ATKR. Roth Mkm assumed coverage on shares of Atkore in a research note on Tuesday, December 17th. They issued a "buy" rating and a $100.00 price objective for the company. Roth Capital raised shares of Atkore to a "strong-buy" rating in a research report on Monday, December 16th. B. Riley lowered shares of Atkore from a "buy" rating to a "neutral" rating and lowered their price target for the company from $135.00 to $84.00 in a report on Friday, November 22nd. Royal Bank of Canada restated a "sector perform" rating and set a $102.00 price target (up previously from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Finally, KeyCorp dropped their price objective on shares of Atkore from $105.00 to $80.00 and set an "overweight" rating for the company in a report on Wednesday, February 5th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $103.17.
Get Our Latest Stock Analysis on ATKR
Shares of Atkore stock opened at $65.30 on Monday. Atkore has a 12-month low of $62.62 and a 12-month high of $194.98. The stock's fifty day moving average is $83.46 and its 200-day moving average is $90.21. The firm has a market capitalization of $2.27 billion, a PE ratio of 6.32 and a beta of 2.12. 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 announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.45. Atkore had a return on equity of 25.69% and a net margin of 12.42%. The firm had revenue of $661.60 million during the quarter, compared to analyst estimates of $680.77 million. During the same period last year, the company posted $4.12 EPS. The business's quarterly revenue was down 17.1% compared to the same quarter last year. Equities analysts anticipate that Atkore will post 6.55 earnings per share for the current year.
In other Atkore news, VP Daniel S. Kelly sold 13,071 shares of Atkore stock in a transaction dated 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 $2,635,530.72. This trade represents a 32.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeri L. Isbell sold 3,353 shares of Atkore stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total transaction of $315,282.59. Following the completion of the sale, the director now owns 25,585 shares in the company, valued at $2,405,757.55. This trade represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.99% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its holdings in Atkore by 10.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,368,867 shares of the company's stock worth $111,467,000 after buying an additional 134,517 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Atkore by 10.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 530,170 shares of the company's stock worth $44,243,000 after purchasing an additional 50,194 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Atkore by 3,948.4% in the 4th quarter. Victory Capital Management Inc. now owns 470,830 shares of the company's stock valued at $39,291,000 after purchasing an additional 459,200 shares during the period. Royce & Associates LP boosted its stake in shares of Atkore by 20.2% during the 3rd quarter. Royce & Associates LP now owns 396,054 shares of the company's stock worth $33,562,000 after acquiring an additional 66,533 shares during the period. Finally, E. Ohman J or Asset Management AB increased its holdings in shares of Atkore by 55.2% in the fourth quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company's stock valued at $26,569,000 after purchasing an additional 113,263 shares during the last quarter.
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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