Atkore (NYSE:ATKR) Price Target Lowered to $80.00 at KeyCorp

Atkore (NYSE:ATKR) had its price objective decreased by investment analysts at KeyCorp from $105.00 to $80.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price objective points to a potential upside of 25.14% from the company’s current price.

A number of other research analysts have also recently weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 price target (up previously from $93.00) on shares of Atkore in a research report on Wednesday, December 4th. B. Riley downgraded shares of 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 report on Friday, November 22nd. Roth Capital upgraded shares of Atkore to a “strong-buy” rating in a research report on Monday, December 16th. Roth Mkm initiated coverage on shares of Atkore in a research report on Tuesday, December 17th. They issued a “buy” rating and a $100.00 price target on the stock. Finally, Loop Capital cut their price objective on Atkore from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Atkore has a consensus rating of “Moderate Buy” and a consensus target price of $111.50.

Atkore Price Performance

NYSE:ATKR traded down $0.20 during trading hours on Wednesday, hitting $63.93. The company’s stock had a trading volume of 247,346 shares, compared to its average volume of 638,383. The company has a market capitalization of $2.22 billion, a PE ratio of 5.06 and a beta of 2.12. Atkore has a 52-week low of $62.62 and a 52-week high of $194.98. The business’s 50-day moving average is $85.16 and its two-hundred day moving average is $91.50. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.96 and a current ratio of 2.98.

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

Insider Buying and Selling

In other news, Director Jeri L. Isbell sold 3,353 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total transaction of $315,282.59. Following the transaction, the director now directly owns 25,585 shares in the company, valued at $2,405,757.55. This represents a 11.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark F. Lamps sold 500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $96.55, for a total transaction of $48,275.00. Following the completion of the sale, the insider now directly owns 27,626 shares in the company, valued at $2,667,290.30. This represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,924 shares of company stock worth $1,614,975. 1.99% of the stock is owned by insiders.

Hedge Funds Weigh In On Atkore

A number of large investors have recently bought and sold shares of ATKR. Allspring Global Investments Holdings LLC grew its stake in shares of Atkore by 26.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company’s stock valued at $104,599,000 after buying an additional 261,234 shares during the period. E. Ohman J or Asset Management AB grew its position in Atkore by 55.2% during the fourth quarter. E. Ohman J or Asset Management AB now owns 318,388 shares of the company’s stock valued at $26,569,000 after acquiring an additional 113,263 shares during the period. Bank of New York Mellon Corp grew its position in Atkore by 80.7% during the fourth quarter. Bank of New York Mellon Corp now owns 246,611 shares of the company’s stock valued at $20,580,000 after acquiring an additional 110,107 shares during the period. M&G PLC acquired a new stake in Atkore during the third quarter worth about $9,123,000. Finally, Algert Global LLC raised its holdings in shares of Atkore by 331.6% in the 3rd quarter. Algert Global LLC now owns 125,894 shares of the company’s stock worth $10,668,000 after purchasing an additional 96,724 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.