Atkore (NYSE:ATKR) PT Lowered to $125.00

Atkore (NYSE:ATKRGet Rating) had its price target lowered by Royal Bank of Canada from $151.00 to $125.00 in a report published on Wednesday, Benzinga reports. The firm currently has an outperform rating on the stock.

ATKR has been the subject of a number of other reports. Credit Suisse Group set a $130.00 price target on Atkore in a research note on Tuesday, July 19th. Citigroup raised their target price on Atkore from $109.00 to $125.00 in a research report on Wednesday, May 4th. Finally, lowered Atkore from a strong-buy rating to a buy rating in a research report on Wednesday, July 27th.

Atkore Stock Down 1.3 %

Shares of ATKR opened at $88.89 on Wednesday. Atkore has a 52 week low of $80.04 and a 52 week high of $123.53. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 4.58 and a beta of 2.27. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.35 and a current ratio of 2.77. The stock has a fifty day moving average of $93.66 and a 200-day moving average of $98.97.

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

Insider Buying and Selling

In other Atkore news, CEO William E. Jr. Waltz sold 20,000 shares of the stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $118.65, for a total transaction of $2,373,000.00. Following the completion of the sale, the chief executive officer now directly owns 39,017 shares in the company, valued at approximately $4,629,367.05. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.96% of the stock is owned by corporate insiders.

Institutional Trading of Atkore

Several large investors have recently made changes to their positions in ATKR. Lindbrook Capital LLC grew its stake in shares of Atkore by 3,577.8% in the 2nd quarter. Lindbrook Capital LLC now owns 331 shares of the company’s stock valued at $27,000 after buying an additional 322 shares during the period. Huntington National Bank grew its stake in shares of Atkore by 684.2% in the 1st quarter. Huntington National Bank now owns 298 shares of the company’s stock valued at $29,000 after buying an additional 260 shares during the period. Catalyst Capital Advisors LLC lifted its position in Atkore by 111.1% in the 4th quarter. Catalyst Capital Advisors LLC now owns 266 shares of the company’s stock valued at $30,000 after acquiring an additional 140 shares in the last quarter. Northern Oak Wealth Management Inc. bought a new position in Atkore in the 4th quarter valued at about $33,000. Finally, Ellevest Inc. lifted its position in Atkore by 54.7% in the 1st quarter. Ellevest Inc. now owns 376 shares of the company’s stock valued at $37,000 after acquiring an additional 133 shares in the last quarter. 94.87% of the stock is currently owned by institutional investors and hedge funds.

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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