Atkore (NYSE:ATKR) Hits New 52-Week Low – Time to Sell?

Atkore Inc. (NYSE:ATKR)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $68.25 and last traded at $68.10, with a volume of 57839 shares traded. The stock had previously closed at $79.72.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Roth Capital raised Atkore to a “strong-buy” rating in a research note on Monday, December 16th. Loop Capital lowered their price objective 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. B. Riley lowered shares of Atkore from a “buy” rating to a “neutral” rating and cut their target price for the company from $135.00 to $84.00 in a research report on Friday, November 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $102.00 target price (up previously from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Finally, Roth Mkm began coverage on Atkore in a research note on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target for the company. 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, Atkore presently has an average rating of “Moderate Buy” and a consensus target price of $111.50.

Atkore Price Performance

The stock has a market cap of $2.28 billion, a P/E ratio of 5.19 and a beta of 2.12. The company’s 50 day moving average price is $85.16 and its 200-day moving average price is $91.50. The company has a quick ratio of 1.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.50.

Atkore (NYSE:ATKR) last announced its earnings results on Tuesday, February 4th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.45. The business had revenue of $661.60 million during the quarter, compared to analyst estimates of $680.77 million. Atkore had a return on equity of 32.14% and a net margin of 14.77%. Atkore’s revenue for the quarter was down 17.1% compared to the same quarter last year. During the same period last year, the company earned $4.12 EPS. As a group, sell-side analysts expect that Atkore Inc. will post 6.62 earnings per share for the current year.

Atkore Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Tuesday, February 18th. Atkore’s payout ratio is presently 10.13%.

Insider Buying and Selling at Atkore

In related news, VP Daniel S. Kelly sold 13,071 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $95.74, for a total transaction of $1,251,417.54. Following the completion of the sale, the vice president now owns 27,528 shares of the company’s stock, valued at $2,635,530.72. This trade represents a 32.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeri L. Isbell sold 3,353 shares of Atkore stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $94.03, for a total value of $315,282.59. Following the completion of the sale, the director now owns 25,585 shares of the company’s stock, valued at approximately $2,405,757.55. The trade was a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,924 shares of company stock valued at $1,614,975. 1.99% of the stock is currently owned by company insiders.

Institutional Trading of Atkore

Several large investors have recently modified their holdings of the stock. Jones Financial Companies Lllp boosted its stake in Atkore by 87.7% during the fourth quarter. Jones Financial Companies Lllp now owns 398 shares of the company’s stock worth $33,000 after acquiring an additional 186 shares in the last quarter. Signaturefd LLC boosted its position in shares of Atkore by 445.6% during the 3rd quarter. Signaturefd LLC now owns 491 shares of the company’s stock worth $42,000 after purchasing an additional 401 shares in the last quarter. Quarry LP boosted its position in shares of Atkore by 48.8% during the 3rd quarter. Quarry LP now owns 634 shares of the company’s stock worth $54,000 after purchasing an additional 208 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Atkore by 30.2% in the 4th quarter. Pacer Advisors Inc. now owns 841 shares of the company’s stock valued at $70,000 after buying an additional 195 shares during the period. Finally, Covestor Ltd increased its position in Atkore by 63.7% in the 3rd quarter. Covestor Ltd now owns 1,002 shares of the company’s stock valued at $85,000 after buying an additional 390 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.