Atkore Inc. (NYSE:ATKR) Stock Has Consensus Price Target of $143.33 According to Brokerages

Shares of Atkore Inc. (NYSE:ATKR) have earned an average recommendation of “Hold” from the six research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $143.33.

Several brokerages recently commented on ATKR. Weiss Ratings upgraded shares of Atkore from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 12th. Wall Street Zen raised shares of Atkore from a “hold” rating to a “buy” rating in a research report on Sunday, July 26th. Royal Bank Of Canada set a $76.00 price objective on shares of Atkore in a research note on Thursday, July 16th. Finally, Roth Capital lowered Atkore from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $85.00 to $92.00 in a report on Tuesday, August 4th.

Atkore Stock Up 0.0%

ATKR stock opened at $94.97 on Wednesday. The stock has a market cap of $3.21 billion, a P/E ratio of -19.74 and a beta of 1.69. The company has a current ratio of 2.73, a quick ratio of 2.04 and a debt-to-equity ratio of 0.59. Atkore has a twelve month low of $53.75 and a twelve month high of $94.97. The company’s 50 day moving average is $94.53 and its two-hundred day moving average is $78.53.

Atkore (NYSE:ATKR) last issued its earnings results on Tuesday, August 4th. The company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.39. Atkore had a negative net margin of 5.55% and a positive return on equity of 10.27%. The business had revenue of $794.80 million during the quarter, compared to analysts’ expectations of $756.23 million. During the same quarter in the prior year, the business posted $2.17 EPS. Research analysts expect that Atkore will post 5.15 earnings per share for the current fiscal year.

Insider Activity at Atkore

In other news, insider Mark Lamps sold 300 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $93.75, for a total value of $28,125.00. Following the completion of the sale, the insider directly owned 35,803 shares of the company’s stock, valued at approximately $3,356,531.25. The trade was a 0.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ATKR. BlackRock Inc. purchased a new stake in Atkore in the 2nd quarter valued at $236,958,000. Dimensional Fund Advisors LP grew its position in Atkore by 8.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,227,991 shares of the company’s stock worth $72,341,000 after purchasing an additional 97,514 shares during the last quarter. Hill City Capital LP purchased a new position in Atkore during the 2nd quarter worth $55,061,020. Irenic Capital Management LP grew its position in Atkore by 3,531.8% during the 2nd quarter. Irenic Capital Management LP now owns 507,613 shares of the company’s stock worth $38,599,000 after purchasing an additional 493,636 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in Atkore in the second quarter valued at $33,367,000.

About Atkore

Atkore Inc (NYSE:ATKR) manufactures products used in electrical, safety and infrastructure applications. Its portfolio includes electrical raceway systems, cable management products, conduit, fittings, wire and cable, mechanical pipe, and related engineered solutions. These products help protect and route electrical wiring and support power distribution, communications, commercial construction, industrial facilities and infrastructure projects.

The company serves electrical, industrial, construction and infrastructure customers through a portfolio of brands and manufacturing facilities.