Atkore (NYSE:ATKR) Raised to “Strong-Buy” at Roth Capital

Atkore (NYSE:ATKR) was upgraded by analysts at Roth Capital to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research firms also recently weighed in on ATKR. KeyCorp decreased their price target on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. B. Riley lowered shares of Atkore from a “buy” rating to a “neutral” rating and decreased their target price for the company from $135.00 to $84.00 in a research report on Friday, November 22nd. 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 report on Friday, November 22nd. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 price target (up previously from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Finally, Roth Mkm assumed coverage on Atkore in a research note on Tuesday. They issued a “buy” rating and a $100.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $115.67.

Atkore Stock Up 0.8 %

NYSE ATKR opened at $85.25 on Monday. Atkore has a twelve month low of $76.01 and a twelve month high of $194.98. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.96 and a current ratio of 2.98. The stock has a market cap of $2.98 billion, a PE ratio of 6.75 and a beta of 2.10. The firm has a 50-day simple moving average of $89.63 and a 200 day simple moving average of $105.07.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Thursday, November 21st. The company reported $2.02 EPS for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.06). The firm had revenue of $788.30 million during the quarter, compared to the consensus estimate of $749.49 million. Atkore had a return on equity of 32.14% and a net margin of 14.77%. Atkore’s revenue was down 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.63 EPS. On average, research analysts forecast that Atkore will post 6.69 EPS for the current year.

Insiders Place Their Bets

In other news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $96.55, for a total value of $48,275.00. Following the completion of the sale, the insider now directly owns 27,626 shares in the company, valued at approximately $2,667,290.30. This trade represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeri L. Isbell sold 3,353 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $94.03, for a total transaction of $315,282.59. Following the transaction, the director now owns 25,585 shares in the company, valued at approximately $2,405,757.55. This trade represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,924 shares of company stock valued at $1,614,975. 2.56% of the stock is currently owned by insiders.

Institutional Trading of Atkore

A number of hedge funds and other institutional investors have recently modified their holdings of ATKR. Arizona State Retirement System lifted its holdings in Atkore by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 10,294 shares of the company’s stock worth $1,389,000 after buying an additional 85 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of Atkore by 2.0% during the second quarter. SummerHaven Investment Management LLC now owns 4,944 shares of the company’s stock valued at $667,000 after acquiring an additional 99 shares during the period. Meixler Investment Management Ltd. boosted its holdings in Atkore by 6.5% in the second quarter. Meixler Investment Management Ltd. now owns 1,947 shares of the company’s stock valued at $263,000 after acquiring an additional 119 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Atkore by 3.2% in the second quarter. Commonwealth Equity Services LLC now owns 4,115 shares of the company’s stock worth $555,000 after purchasing an additional 129 shares during the period. Finally, Cornercap Investment Counsel Inc. raised its holdings in Atkore by 3.9% during the 3rd quarter. Cornercap Investment Counsel Inc. now owns 5,090 shares of the company’s stock worth $431,000 after purchasing an additional 189 shares during the last quarter.

About Atkore

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.