Atkore (NYSE:ATKR) Upgraded to Strong-Buy at Roth Capital

Atkore (NYSE:ATKR) was upgraded by equities research analysts at Roth Capital to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts also recently commented on the stock. KeyCorp lowered their target price on shares of Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Loop Capital dropped their price objective on Atkore from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. B. Riley cut Atkore from a “buy” rating to a “neutral” rating and decreased their target price for the company from $135.00 to $84.00 in a research note on Friday, November 22nd. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 price target (up from $93.00) on shares of Atkore in a report on Wednesday, December 4th. Finally, Roth Mkm initiated coverage on Atkore in a report on Tuesday. They set a “buy” rating and a $100.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $115.67.

Atkore Stock Up 0.8 %

Shares of Atkore stock opened at $85.25 on Monday. The business has a fifty day simple moving average of $89.63 and a 200 day simple moving average of $105.07. The stock has a market cap of $2.98 billion, a PE ratio of 6.75 and a beta of 2.10. The company has a quick ratio of 1.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.50. Atkore has a 12 month low of $76.01 and a 12 month high of $194.98.

Atkore (NYSE:ATKR) last posted its earnings results on Thursday, November 21st. The company reported $2.02 earnings per share (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 analyst estimates of $749.49 million. Atkore had a return on equity of 32.14% and a net margin of 14.77%. Atkore’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.63 earnings per share. Research analysts predict that Atkore will post 6.69 EPS for the current year.

Insider Activity

In related news, VP Daniel S. Kelly sold 13,071 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $95.74, for a total value of $1,251,417.54. Following the completion of the transaction, the vice president now owns 27,528 shares of the company’s stock, valued at approximately $2,635,530.72. This trade represents a 32.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeri L. Isbell sold 3,353 shares of Atkore stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $94.03, for a total transaction of $315,282.59. Following the completion of the sale, the director now owns 25,585 shares in the company, valued at $2,405,757.55. The trade was 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 worth $1,614,975 over the last three months. Corporate insiders own 2.56% of the company’s stock.

Institutional Trading of Atkore

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Signaturefd LLC increased its position in shares of Atkore by 445.6% during the 3rd quarter. Signaturefd LLC now owns 491 shares of the company’s stock worth $42,000 after purchasing an additional 401 shares during the last quarter. Quarry LP grew its stake in shares of Atkore by 48.8% in the third quarter. Quarry LP now owns 634 shares of the company’s stock valued at $54,000 after buying an additional 208 shares in the last quarter. Covestor Ltd increased its holdings in Atkore by 63.7% during the third quarter. Covestor Ltd now owns 1,002 shares of the company’s stock worth $85,000 after buying an additional 390 shares during the last quarter. Headlands Technologies LLC raised its position in Atkore by 829.9% during the second quarter. Headlands Technologies LLC now owns 902 shares of the company’s stock worth $122,000 after acquiring an additional 805 shares in the last quarter. Finally, Pinnacle Associates Ltd. acquired a new stake in Atkore in the third quarter valued at $126,000.

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.