Royal Bank of Canada Reiterates “Sector Perform” Rating for Atkore (NYSE:ATKR)

Atkore (NYSE:ATKR)‘s stock had its “sector perform” rating reiterated by research analysts at Royal Bank of Canada in a report issued on Wednesday,Benzinga reports. They presently have a $102.00 price target on the stock, up from their prior price target of $93.00. Royal Bank of Canada’s price objective would indicate a potential upside of 13.11% from the stock’s current price.

Several other equities analysts have also weighed in on ATKR. Loop Capital decreased their target price on shares of Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. B. Riley lowered Atkore from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $135.00 to $84.00 in a research report on Friday, November 22nd. Finally, KeyCorp reduced their target price on Atkore from $125.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Atkore currently has an average rating of “Hold” and an average target price of $118.80.

Atkore Price Performance

NYSE:ATKR opened at $90.18 on Wednesday. The stock has a 50 day moving average price of $89.14 and a 200 day moving average price of $109.43. The stock has a market cap of $3.15 billion, a PE ratio of 7.14 and a beta of 2.10. 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 has a one year low of $76.01 and a one year high of $194.98.

Atkore (NYSE:ATKR) last posted its quarterly earnings results on Thursday, November 21st. The company reported $2.02 EPS for the quarter, missing the consensus estimate of $2.08 by ($0.06). The company had revenue of $788.30 million for the quarter, compared to analysts’ expectations of $749.49 million. Atkore had a return on equity of 32.14% and a net margin of 14.77%. The firm’s revenue was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.63 EPS. Equities research analysts expect that Atkore will post 6.69 EPS for the current fiscal year.

Insider Buying and Selling at Atkore

In related news, insider Mark F. Lamps sold 500 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $96.55, for a total value of $48,275.00. Following the sale, the insider now owns 27,626 shares in the company, valued at approximately $2,667,290.30. The trade was a 1.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeri L. Isbell sold 3,353 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total value of $315,282.59. Following the transaction, the director now owns 25,585 shares of the company’s stock, valued at $2,405,757.55. This trade represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,924 shares of company stock valued at $1,614,975 over the last quarter. 2.56% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ATKR. Cetera Investment Advisers boosted its position in Atkore by 315.6% in the 1st quarter. Cetera Investment Advisers now owns 13,402 shares of the company’s stock valued at $2,551,000 after buying an additional 10,177 shares during the period. Cetera Advisors LLC purchased a new position in Atkore in the first quarter valued at $473,000. Mather Group LLC. grew its stake in Atkore by 895.7% during the 2nd quarter. Mather Group LLC. now owns 468 shares of the company’s stock worth $63,000 after purchasing an additional 421 shares in the last quarter. Park Avenue Securities LLC increased its holdings in Atkore by 9.3% during the 2nd quarter. Park Avenue Securities LLC now owns 7,207 shares of the company’s stock worth $972,000 after purchasing an additional 614 shares during the period. Finally, Linden Thomas Advisory Services LLC raised its position in Atkore by 10.1% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 2,755 shares of the company’s stock valued at $372,000 after purchasing an additional 252 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.