Atkore (NYSE:ATKR) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Atkore (NYSE:ATKR – Get Rating) in a research note issued on Thursday. The brokerage set a “buy” rating on the stock.

Other analysts have also issued reports about the stock. Citigroup upped their price target on shares of Atkore from $135.00 to $156.00 and gave the stock a “neutral” rating in a research note on Thursday, February 2nd. Loop Capital boosted their target price on shares of Atkore from $150.00 to $170.00 in a report on Thursday, February 2nd. B. Riley boosted their target price on shares of Atkore from $146.00 to $161.00 and gave the stock a “buy” rating in a report on Thursday, February 2nd. Finally, Royal Bank of Canada boosted their target price on shares of Atkore from $139.00 to $177.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $161.40.

Atkore Trading Down 6.2 %

Shares of NYSE:ATKR opened at $131.32 on Thursday. The company has a 50 day moving average of $136.16 and a 200-day moving average of $111.87. The firm has a market cap of $5.19 billion, a P/E ratio of 6.50 and a beta of 2.22. Atkore has a twelve month low of $70.50 and a twelve month high of $154.86. The company has a current ratio of 2.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.60.

Atkore (NYSE:ATKR – Get Rating) last issued its quarterly earnings results on Wednesday, February 1st. The company reported $4.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.71. The company had revenue of $833.82 million during the quarter, compared to analyst estimates of $820.90 million. Atkore had a net margin of 22.58% and a return on equity of 76.09%. As a group, analysts anticipate that Atkore will post 15.12 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO William E. Jr. Waltz sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $140.26, for a total transaction of $4,207,800.00. Following the sale, the chief executive officer now owns 70,080 shares in the company, valued at $9,829,420.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Wilbert W. James, Jr. sold 1,491 shares of the business’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $139.08, for a total transaction of $207,368.28. Following the sale, the director now owns 15,338 shares in the company, valued at $2,133,209.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William E. Jr. Waltz sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $140.26, for a total transaction of $4,207,800.00. Following the transaction, the chief executive officer now directly owns 70,080 shares in the company, valued at $9,829,420.80. The disclosure for this sale can be found here. Insiders have sold 48,813 shares of company stock worth $6,997,675 over the last 90 days. 2.11% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATKR. Norges Bank purchased a new position in Atkore during the fourth quarter valued at approximately $59,906,000. Capital Research Global Investors purchased a new position in Atkore during the first quarter valued at approximately $42,940,000. GW&K Investment Management LLC grew its position in Atkore by 156.2% during the fourth quarter. GW&K Investment Management LLC now owns 647,776 shares of the company’s stock valued at $73,471,000 after purchasing an additional 394,908 shares in the last quarter. Credit Suisse AG grew its position in Atkore by 516.5% during the third quarter. Credit Suisse AG now owns 238,365 shares of the company’s stock valued at $18,547,000 after purchasing an additional 199,698 shares in the last quarter. Finally, River Road Asset Management LLC grew its position in Atkore by 19.3% during the third quarter. River Road Asset Management LLC now owns 1,151,419 shares of the company’s stock valued at $89,592,000 after purchasing an additional 186,123 shares in the last quarter.

Atkore Company Profile

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Atkore, Inc engages in the manufacture of electrical raceway products. It operates through the Electrical, and Safety and Infrastructure segments. The Electrical segment produces products used in the construction of electrical power systems such as conduit, cable, and installation accessories. The Safety and Infrastructure segment designs and creates solutions including metal framing, mechanical pipe, perimeter security, and cable management for the protection and reliability of critical infrastructure.