Atkore (NYSE:ATKR) Price Target Cut to $93.00 by Analysts at Royal Bank of Canada

Atkore (NYSE:ATKR) had its target price cut by equities research analysts at Royal Bank of Canada from $99.00 to $93.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 1.58% from the company’s previous close.

ATKR has been the topic of several other research reports. B. Riley lowered Atkore from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $135.00 to $84.00 in a research note on Friday. KeyCorp dropped their price objective on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Finally, Loop Capital dropped their price target on shares of Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $117.00.

Atkore Trading Up 7.5 %

Shares of NYSE ATKR traded up $6.41 during mid-day trading on Friday, reaching $91.55. 435,949 shares of the company’s stock were exchanged, compared to its average volume of 628,469. The company’s 50-day moving average is $87.74 and its 200-day moving average is $113.93. Atkore has a 52-week low of $76.01 and a 52-week high of $194.98. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.03 and a current ratio of 3.26. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 6.43 and a beta of 2.13.

Insider Buying and Selling at Atkore

In other Atkore news, insider Mark F. Lamps sold 500 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $96.55, for a total transaction of $48,275.00. Following the completion of the transaction, the insider now owns 27,626 shares in the company, valued at approximately $2,667,290.30. This represents a 1.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.56% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ATKR. Capital World Investors acquired a new stake in shares of Atkore in the 1st quarter valued at approximately $14,986,000. BOKF NA purchased a new position in shares of Atkore in the 1st quarter valued at about $423,000. Price T Rowe Associates Inc. MD boosted its holdings in Atkore by 1.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 449,323 shares of the company’s stock worth $85,535,000 after buying an additional 4,852 shares in the last quarter. Silvercrest Asset Management Group LLC grew its holdings in shares of Atkore by 0.7% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 167,637 shares of the company’s stock worth $31,911,000 after acquiring an additional 1,141 shares during the period. Finally, Bayesian Capital Management LP purchased a new position in shares of Atkore in the first quarter valued at $411,000.

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.