Atkore (NYSE:ATKR) Hits New 12-Month Low – What’s Next?

Atkore Inc. (NYSE:ATKR)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $62.33 and last traded at $62.38, with a volume of 698399 shares traded. The stock had previously closed at $63.31.

Analysts Set New Price Targets

ATKR has been the subject of a number of analyst reports. Roth Capital upgraded Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Roth Mkm began coverage on shares of Atkore in a research report on Tuesday, December 17th. They set a “buy” rating and a $100.00 price objective for the company. B. Riley downgraded Atkore from a “buy” rating to a “neutral” rating and dropped their target price for the company from $135.00 to $84.00 in a research report on Friday, November 22nd. KeyCorp dropped their price target on shares of Atkore from $105.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $102.00 target price (up from $93.00) on shares of Atkore in a research note on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Atkore currently has an average rating of “Moderate Buy” and a consensus price target of $103.17.

Atkore Stock Performance

The company has a market cap of $2.17 billion, a PE ratio of 6.04 and a beta of 2.12. The stock’s 50-day simple moving average is $78.16 and its 200 day simple moving average is $85.43. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.96 and a current ratio of 3.03.

Atkore (NYSE:ATKR) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.45. The firm had revenue of $661.60 million during the quarter, compared to the consensus estimate of $680.77 million. Atkore had a net margin of 12.42% and a return on equity of 25.69%. The firm’s revenue was down 17.1% compared to the same quarter last year. During the same quarter last year, the firm earned $4.12 earnings per share. As a group, equities analysts anticipate that Atkore Inc. will post 5.79 EPS for the current year.

Atkore Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Tuesday, February 18th. Atkore’s dividend payout ratio (DPR) is currently 12.39%.

Insider Activity

In other Atkore news, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $65.00, for a total transaction of $32,500.00. Following the completion of the transaction, the insider now directly owns 33,760 shares in the company, valued at approximately $2,194,400. This trade represents a 1.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeri L. Isbell sold 3,353 shares of Atkore 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 of the company’s stock, valued at approximately $2,405,757.55. The trade was a 11.59 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.99% of the company’s stock.

Institutional Investors Weigh In On Atkore

A number of large investors have recently bought and sold shares of ATKR. Creative Planning lifted its position in shares of Atkore by 37.1% in the third quarter. Creative Planning now owns 7,658 shares of the company’s stock valued at $649,000 after acquiring an additional 2,073 shares in the last quarter. Signaturefd LLC raised its stake in Atkore by 445.6% in the 3rd quarter. Signaturefd LLC now owns 491 shares of the company’s stock valued at $42,000 after purchasing an additional 401 shares during the last quarter. Arkadios Wealth Advisors lifted its holdings in Atkore by 19.5% in the 3rd quarter. Arkadios Wealth Advisors now owns 4,259 shares of the company’s stock valued at $361,000 after purchasing an additional 696 shares in the last quarter. PFG Investments LLC acquired a new stake in shares of Atkore during the 3rd quarter worth about $204,000. Finally, Pinnacle Associates Ltd. purchased a new stake in shares of Atkore during the third quarter worth about $126,000.

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.