Atkore (NYSE:ATKR) Given New $117.00 Price Target at Citigroup

Atkore (NYSE:ATKRGet Rating) had its target price lifted by Citigroup from $94.00 to $117.00 in a report released on Monday, The Fly reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price would indicate a potential downside of 3.83% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. StockNews.com began coverage on shares of Atkore in a report on Wednesday, October 12th. They issued a “buy” rating for the company. Loop Capital began coverage on shares of Atkore in a report on Tuesday, October 18th. They issued a “buy” rating and a $110.00 price target for the company. Credit Suisse Group upped their price target on shares of Atkore from $130.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, August 3rd. Finally, Royal Bank of Canada reduced their price target on shares of Atkore from $151.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday, August 3rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Atkore presently has a consensus rating of “Moderate Buy” and an average target price of $126.50.

Atkore Stock Up 3.8 %

Shares of NYSE ATKR opened at $121.66 on Monday. The stock has a market cap of $5.03 billion, a P/E ratio of 5.99 and a beta of 2.22. The firm has a 50 day moving average price of $89.98 and a 200 day moving average price of $92.44. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.91 and a current ratio of 2.77. Atkore has a 52-week low of $70.50 and a 52-week high of $123.53.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp raised its position in Atkore by 9.8% during the third quarter. Van ECK Associates Corp now owns 1,409 shares of the company’s stock worth $110,000 after acquiring an additional 126 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of Atkore by 2.9% in the second quarter. Commonwealth Equity Services LLC now owns 4,659 shares of the company’s stock valued at $386,000 after purchasing an additional 133 shares during the period. Xponance Inc. raised its position in shares of Atkore by 5.6% in the second quarter. Xponance Inc. now owns 3,192 shares of the company’s stock valued at $265,000 after purchasing an additional 168 shares during the period. US Bancorp DE raised its position in shares of Atkore by 22.7% in the second quarter. US Bancorp DE now owns 913 shares of the company’s stock valued at $75,000 after purchasing an additional 169 shares during the period. Finally, State of Tennessee Treasury Department raised its position in shares of Atkore by 4.4% in the first quarter. State of Tennessee Treasury Department now owns 4,094 shares of the company’s stock valued at $403,000 after purchasing an additional 172 shares during the period. Institutional investors and hedge funds own 97.39% of the company’s stock.

About Atkore

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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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