Atkore (NYSE:ATKR) PT Lowered to $130.00 at Loop Capital

Atkore (NYSE:ATKR) had its price target cut by Loop Capital from $160.00 to $130.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

ATKR has been the subject of several other research reports. B. Riley lowered their price target on shares of Atkore from $183.00 to $135.00 and set a buy rating for the company in a research report on Wednesday, August 7th. KeyCorp lowered their price target on shares of Atkore from $125.00 to $105.00 and set an overweight rating for the company in a research report on Friday, September 13th. Finally, Royal Bank of Canada cut shares of Atkore from an outperform rating to a sector perform rating and lowered their price target for the stock from $175.00 to $100.00 in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Atkore presently has an average rating of Moderate Buy and a consensus target price of $131.60.

Atkore Trading Down 2.4 %

Shares of NYSE ATKR opened at $87.02 on Friday. Atkore has a 1-year low of $80.11 and a 1-year high of $194.98. The company has a market cap of $3.17 billion, a PE ratio of 5.43 and a beta of 2.14. The company has a current ratio of 3.26, a quick ratio of 2.03 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average of $106.42 and a two-hundred day moving average of $141.15.

Atkore (NYSE:ATKR) last announced its earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share for the quarter, topping analysts’ consensus estimates of $3.52 by $0.28. Atkore had a net margin of 16.47% and a return on equity of 36.96%. The company had revenue of $822.40 million during the quarter, compared to the consensus estimate of $830.16 million. During the same period in the previous year, the firm posted $5.13 earnings per share. The company’s revenue was down 10.5% on a year-over-year basis. As a group, equities analysts expect that Atkore will post 12.69 earnings per share for the current fiscal year.

Atkore Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Tuesday, August 20th. Atkore’s dividend payout ratio is currently 7.98%.

Insider Activity at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $95.47, for a total transaction of $47,735.00. Following the completion of the transaction, the insider now owns 28,086 shares in the company, valued at $2,681,370.42. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.56% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hodges Capital Management Inc. acquired a new position in shares of Atkore in the second quarter valued at approximately $4,158,000. Capital World Investors acquired a new position in shares of Atkore in the first quarter valued at approximately $14,986,000. Sei Investments Co. boosted its holdings in shares of Atkore by 44.3% in the first quarter. Sei Investments Co. now owns 65,913 shares of the company’s stock valued at $12,547,000 after buying an additional 20,244 shares during the period. Boston Trust Walden Corp acquired a new position in shares of Atkore in the second quarter valued at approximately $23,306,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Atkore by 1.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 449,323 shares of the company’s stock valued at $85,535,000 after buying an additional 4,852 shares during the period.

About Atkore

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.