Atkore (NYSE:ATKR) Price Target Raised to $143.00

Atkore (NYSE:ATKRGet Rating) had its price objective boosted by Credit Suisse Group from $130.00 to $143.00 in a research note released on Wednesday morning, Benzinga reports. Credit Suisse Group currently has an outperform rating on the stock.

ATKR has been the topic of several other reports. Citigroup raised their price objective on shares of Atkore from $109.00 to $125.00 in a research report on Wednesday, May 4th. Royal Bank of Canada cut their target price on shares of Atkore from $151.00 to $125.00 and set an outperform rating for the company in a research note on Wednesday. Finally, StockNews.com cut shares of Atkore from a strong-buy rating to a buy rating in a research note on Wednesday, July 27th.

Atkore Stock Down 1.3 %

Shares of ATKR stock opened at $88.89 on Wednesday. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 4.58 and a beta of 2.27. Atkore has a one year low of $80.04 and a one year high of $123.53. The company’s fifty day moving average price is $93.66 and its 200-day moving average price is $98.97. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.77 and a quick ratio of 2.35.

Atkore (NYSE:ATKRGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $6.07 EPS for the quarter, beating the consensus estimate of $5.22 by $0.85. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.01 billion. Atkore had a net margin of 23.50% and a return on equity of 90.18%. The company’s revenue was up 24.4% on a year-over-year basis. During the same period last year, the firm earned $3.96 EPS.

Insiders Place Their Bets

In other Atkore news, CEO William E. Jr. Waltz sold 20,000 shares of Atkore stock in a transaction on Monday, June 6th. The shares were sold at an average price of $118.65, for a total value of $2,373,000.00. Following the completion of the transaction, the chief executive officer now directly owns 39,017 shares of the company’s stock, valued at approximately $4,629,367.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On Atkore

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ellevest Inc. lifted its holdings in shares of Atkore by 54.7% in the 1st quarter. Ellevest Inc. now owns 376 shares of the company’s stock worth $37,000 after acquiring an additional 133 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Atkore by 2.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 4,659 shares of the company’s stock worth $386,000 after acquiring an additional 133 shares during the last quarter. Catalyst Capital Advisors LLC lifted its holdings in shares of Atkore by 111.1% in the 4th quarter. Catalyst Capital Advisors LLC now owns 266 shares of the company’s stock worth $30,000 after acquiring an additional 140 shares during the last quarter. Xponance Inc. lifted its holdings in shares of Atkore by 5.6% in the 2nd quarter. Xponance Inc. now owns 3,192 shares of the company’s stock worth $265,000 after acquiring an additional 168 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Atkore by 22.7% in the 2nd quarter. US Bancorp DE now owns 913 shares of the company’s stock worth $75,000 after acquiring an additional 169 shares during the last quarter. 94.87% of the stock is owned by hedge funds and other institutional investors.

Atkore Company Profile

(Get Rating)

Atkore Inc manufactures and sells electrical, safety, and infrastructure products in the United States and internationally. The company offers electrical products, including conduits cables, and installation accessories. It also provides safety and infrastructure solutions, such as metal framing, mechanical pipe, perimeter security, and cable management.

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