Atkore (NYSE:ATKR) Price Target Increased to $200.00 by Analysts at Citigroup

Atkore (NYSE:ATKR) had its price objective increased by Citigroup from $176.00 to $200.00 in a report released on Monday, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also recently commented on ATKR. StockNews.com upgraded shares of Atkore from a hold rating to a buy rating in a research note on Friday, April 5th. Royal Bank of Canada reiterated an outperform rating and set a $187.00 target price on shares of Atkore in a research note on Friday, March 22nd.

Atkore Price Performance

Shares of Atkore stock opened at $175.01 on Monday. The stock has a market capitalization of $6.43 billion, a price-to-earnings ratio of 10.49 and a beta of 2.19. Atkore has a 1-year low of $116.14 and a 1-year high of $194.98. The firm has a fifty day simple moving average of $166.57 and a 200-day simple moving average of $150.97. The company has a current ratio of 2.96, a quick ratio of 1.99 and a debt-to-equity ratio of 0.51.

Atkore (NYSE:ATKR) last released its earnings results on Thursday, February 1st. The company reported $4.12 EPS for the quarter, beating the consensus estimate of $3.08 by $1.04. The firm had revenue of $798.50 million during the quarter, compared to analysts’ expectations of $777.05 million. Atkore had a net margin of 18.80% and a return on equity of 46.79%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $4.51 EPS. On average, sell-side analysts expect that Atkore will post 15.06 earnings per share for the current year.

Atkore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date was Monday, February 26th. Atkore’s payout ratio is 7.67%.

Insider Transactions at Atkore

In other news, VP Daniel S. Kelly sold 8,685 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.07, for a total transaction of $1,503,112.95. Following the completion of the transaction, the vice president now directly owns 34,907 shares of the company’s stock, valued at approximately $6,041,354.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Daniel S. Kelly sold 8,685 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.07, for a total transaction of $1,503,112.95. Following the completion of the sale, the vice president now owns 34,907 shares in the company, valued at approximately $6,041,354.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Leangela W. Lowe sold 6,500 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $176.07, for a total transaction of $1,144,455.00. Following the sale, the vice president now owns 25,590 shares of the company’s stock, valued at approximately $4,505,631.30. The disclosure for this sale can be found here. In the last three months, insiders sold 148,464 shares of company stock valued at $25,124,751. Company insiders own 2.56% of the company’s stock.

Institutional Investors Weigh In On Atkore

A number of hedge funds have recently made changes to their positions in ATKR. Boston Partners increased its position in shares of Atkore by 98.9% during the 4th quarter. Boston Partners now owns 1,197,025 shares of the company’s stock worth $191,329,000 after purchasing an additional 595,115 shares in the last quarter. Norges Bank acquired a new stake in Atkore in the 4th quarter valued at about $59,906,000. Capital Research Global Investors acquired a new stake in Atkore in the 1st quarter valued at about $42,940,000. Balyasny Asset Management LLC increased its position in Atkore by 987.0% in the 3rd quarter. Balyasny Asset Management LLC now owns 172,986 shares of the company’s stock valued at $13,460,000 after acquiring an additional 157,072 shares in the last quarter. Finally, River Road Asset Management LLC increased its position in Atkore by 14.1% in the 4th quarter. River Road Asset Management LLC now owns 1,260,290 shares of the company’s stock valued at $201,646,000 after acquiring an additional 155,508 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.