Atkore (NYSE:ATKR) Stock Rating Lowered by B. Riley

Atkore (NYSE:ATKR) was downgraded by research analysts at B. Riley from a “buy” rating to a “neutral” rating in a report issued on Friday,Briefing.com Automated Import reports. They presently have a $84.00 price objective on the stock, down from their prior price objective of $135.00. B. Riley’s price objective indicates a potential downside of 0.66% from the stock’s current price.

Several other research firms have also recently commented on ATKR. KeyCorp cut their price target on Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Royal Bank of Canada cut Atkore from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $175.00 to $100.00 in a research note on Wednesday, August 7th. Finally, Loop Capital cut their price target on Atkore from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $121.40.

Atkore Trading Up 0.5 %

Shares of ATKR opened at $84.56 on Friday. The stock’s 50-day moving average is $87.75 and its two-hundred day moving average is $114.14. The stock has a market cap of $3.03 billion, a PE ratio of 5.94 and a beta of 2.13. Atkore has a 12 month low of $76.01 and a 12 month high of $194.98. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03.

Insider Activity

In other news, insider Mark F. Lamps sold 500 shares of the company’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 transaction, the insider now directly owns 27,626 shares of the company’s stock, valued at approximately $2,667,290.30. This represents a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.56% of the company’s stock.

Hedge Funds Weigh In On Atkore

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Boston Partners grew its holdings in Atkore by 12.0% in the 1st quarter. Boston Partners now owns 1,340,146 shares of the company’s stock worth $254,733,000 after buying an additional 143,121 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Atkore by 26.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,234,350 shares of the company’s stock worth $104,599,000 after purchasing an additional 261,234 shares during the period. American Century Companies Inc. lifted its position in Atkore by 22.9% in the second quarter. American Century Companies Inc. now owns 773,697 shares of the company’s stock worth $104,395,000 after purchasing an additional 144,283 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Atkore by 1.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 449,323 shares of the company’s stock worth $85,535,000 after purchasing an additional 4,852 shares during the period. Finally, Royce & Associates LP lifted its position in Atkore by 20.2% in the third quarter. Royce & Associates LP now owns 396,054 shares of the company’s stock worth $33,562,000 after purchasing an additional 66,533 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.