KeyCorp Trims Atkore (NYSE:ATKR) Target Price to $125.00

Atkore (NYSE:ATKR) had its target price trimmed by KeyCorp from $175.00 to $125.00 in a report released on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research analysts have also issued reports on the company. Citigroup dropped their target price on Atkore from $200.00 to $188.00 and set a neutral rating on the stock in a report on Wednesday, May 8th. B. Riley reduced their target price on Atkore from $183.00 to $135.00 and set a buy rating on the stock in a research report on Wednesday. Royal Bank of Canada downgraded Atkore from an outperform rating to a sector perform rating and cut their price objective for the stock from $175.00 to $100.00 in a report on Wednesday. Finally, StockNews.com downgraded Atkore from a buy rating to a hold rating in a report on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $137.00.

Atkore Stock Performance

Atkore stock traded down $0.36 during mid-day trading on Wednesday, hitting $94.88. The company had a trading volume of 1,050,784 shares, compared to its average volume of 591,124. Atkore has a 12-month low of $93.41 and a 12-month high of $194.98. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 5.92 and a beta of 2.15. The company has a current ratio of 3.09, a quick ratio of 1.98 and a debt-to-equity ratio of 0.49. The company’s fifty day moving average is $133.86 and its 200-day moving average is $154.22.

Atkore (NYSE:ATKR) last issued its earnings results on Tuesday, August 6th. The company reported $3.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.52 by $0.28. The business had revenue of $822.40 million during the quarter, compared to the consensus estimate of $830.16 million. Atkore had a return on equity of 43.19% and a net margin of 18.30%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period last year, the company earned $5.13 EPS. Equities research analysts predict that Atkore will post 14.93 EPS for the current year.

Atkore Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $1.28 dividend on an annualized basis and a yield of 1.35%. Atkore’s dividend payout ratio (DPR) is presently 7.98%.

Insider Transactions at Atkore

In other news, Director Wilbert W. James, Jr. sold 599 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $153.23, for a total transaction of $91,784.77. Following the sale, the director now directly owns 15,695 shares of the company’s stock, valued at $2,404,944.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Atkore news, Director Wilbert W. James, Jr. sold 599 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $153.23, for a total value of $91,784.77. Following the transaction, the director now owns 15,695 shares in the company, valued at $2,404,944.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $157.67, for a total value of $78,835.00. Following the completion of the sale, the insider now directly owns 28,586 shares of the company’s stock, valued at approximately $4,507,154.62. The disclosure for this sale can be found here. Company insiders own 2.56% of the company’s stock.

Institutional Trading of Atkore

Hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its holdings in Atkore by 1.5% in the 4th quarter. Principal Financial Group Inc. now owns 200,175 shares of the company’s stock valued at $32,028,000 after purchasing an additional 3,036 shares during the period. Capital World Investors acquired a new stake in Atkore during the 1st quarter worth $14,986,000. Sei Investments Co. grew its holdings in Atkore by 44.3% during the 1st quarter. Sei Investments Co. now owns 65,913 shares of the company’s stock worth $12,547,000 after acquiring an additional 20,244 shares during the period. Balyasny Asset Management L.P. grew its holdings in Atkore by 121.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 243,695 shares of the company’s stock worth $38,991,000 after acquiring an additional 133,622 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Atkore by 1.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 449,323 shares of the company’s stock valued at $85,535,000 after buying an additional 4,852 shares during the period.

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.