Atkore (NYSE:ATKR) Now Covered by KeyCorp

Research analysts at KeyCorp started coverage on shares of Atkore (NYSE:ATKR) in a research note issued on Wednesday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $175.00 price target on the stock. KeyCorp’s target price would indicate a potential upside of 23.07% from the stock’s previous close.

ATKR has been the topic of a number of other reports. Royal Bank of Canada restated an “outperform” rating and set a $187.00 price objective on shares of Atkore in a research note on Friday, March 22nd. StockNews.com cut shares of Atkore from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, Citigroup cut their price objective on shares of Atkore from $200.00 to $188.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $184.00.

Atkore Stock Performance

Atkore stock opened at $142.20 on Wednesday. The company has a market cap of $5.18 billion, a PE ratio of 8.87 and a beta of 2.15. The company has a fifty day moving average price of $145.09 and a two-hundred day moving average price of $157.95. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.09 and a quick ratio of 1.98. Atkore has a 12 month low of $121.00 and a 12 month high of $194.98.

Atkore (NYSE:ATKR) last announced its quarterly earnings results on Monday, May 6th. The company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.86. Atkore had a net margin of 18.30% and a return on equity of 43.19%. The company had revenue of $792.90 million during the quarter, compared to the consensus estimate of $808.22 million. During the same quarter in the previous year, the company posted $4.31 earnings per share. The company’s revenue for the quarter was down 11.5% compared to the same quarter last year. Research analysts expect that Atkore will post 14.93 earnings per share for the current year.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $157.67, for a total transaction of $78,835.00. Following the sale, the insider now owns 28,586 shares in the company, valued at approximately $4,507,154.62. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Atkore news, Director Wilbert W. James, Jr. sold 599 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $153.23, for a total transaction of $91,784.77. Following the sale, the director now owns 15,695 shares in the company, valued at approximately $2,404,944.85. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $157.67, for a total value of $78,835.00. Following the sale, the insider now owns 28,586 shares in the company, valued at approximately $4,507,154.62. The disclosure for this sale can be found here. 2.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On Atkore

Several institutional investors and hedge funds have recently bought and sold shares of ATKR. ICA Group Wealth Management LLC purchased a new position in Atkore during the 4th quarter valued at about $25,000. GAMMA Investing LLC bought a new stake in shares of Atkore in the 4th quarter valued at approximately $26,000. Anchor Investment Management LLC bought a new stake in shares of Atkore in the 4th quarter valued at approximately $32,000. LifeSteps Financial Inc. bought a new stake in shares of Atkore in the 1st quarter valued at approximately $33,000. Finally, Global Retirement Partners LLC grew its stake in shares of Atkore by 405.1% in the 1st quarter. Global Retirement Partners LLC now owns 197 shares of the company’s stock valued at $38,000 after buying an additional 158 shares in the last quarter.

Atkore Company Profile

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.